Equities research analysts forecast that Gartner Inc (NYSE:IT) will report sales of $919.79 million for the current fiscal quarter, Zacks Investment Research reports. Four analysts have made estimates for Gartner’s earnings, with the lowest sales estimate coming in at $901.20 million and the highest estimate coming in at $931.20 million. Gartner reported sales of $828.09 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 11.1%. The firm is scheduled to announce its next earnings results on Thursday, November 1st.
According to Zacks, analysts expect that Gartner will report full-year sales of $4.00 billion for the current fiscal year, with estimates ranging from $3.97 billion to $4.02 billion. For the next financial year, analysts anticipate that the company will report sales of $4.40 billion, with estimates ranging from $4.36 billion to $4.45 billion. Zacks’ sales averages are an average based on a survey of sell-side analysts that that provide coverage for Gartner.
Gartner (NYSE:IT) last posted its earnings results on Wednesday, August 1st. The information technology services provider reported $1.03 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.96 by $0.07. The firm had revenue of $1 billion during the quarter, compared to the consensus estimate of $985.98 million. Gartner had a net margin of 2.25% and a return on equity of 35.04%. The company’s revenue was up 18.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.88 EPS.
IT has been the subject of a number of research analyst reports. ValuEngine downgraded shares of Gartner from a “buy” rating to a “hold” rating in a research report on Wednesday, June 27th. Morgan Stanley increased their target price on shares of Gartner from $133.00 to $140.00 and gave the stock a “$140.13” rating in a research report on Wednesday, July 18th. Piper Jaffray Companies reissued a “hold” rating and set a $116.00 target price on shares of Gartner in a research report on Thursday, August 2nd. TheStreet raised shares of Gartner from a “c” rating to a “b” rating in a research report on Wednesday, August 1st. Finally, Barclays reissued a “buy” rating and set a $155.00 target price on shares of Gartner in a research report on Sunday, August 12th. Five research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $143.73.
In other Gartner news, EVP Alwyn Dawkins sold 566 shares of the stock in a transaction that occurred on Monday, August 13th. The shares were sold at an average price of $139.69, for a total value of $79,064.54. Following the completion of the sale, the executive vice president now owns 30,254 shares of the company’s stock, valued at $4,226,181.26. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Robin B. Kranich sold 4,000 shares of the stock in a transaction that occurred on Monday, August 6th. The shares were sold at an average price of $140.09, for a total transaction of $560,360.00. Following the completion of the sale, the executive vice president now directly owns 16,916 shares of the company’s stock, valued at approximately $2,369,762.44. The disclosure for this sale can be found here. Insiders sold 55,306 shares of company stock valued at $7,795,227 in the last ninety days. 4.00% of the stock is owned by corporate insiders.
Several institutional investors have recently added to or reduced their stakes in IT. Rehmann Capital Advisory Group lifted its stake in Gartner by 122.7% during the second quarter. Rehmann Capital Advisory Group now owns 1,040 shares of the information technology services provider’s stock worth $138,000 after purchasing an additional 573 shares during the last quarter. Royal London Asset Management Ltd. bought a new position in Gartner during the second quarter worth $4,846,000. Verition Fund Management LLC bought a new position in Gartner during the second quarter worth $328,000. Advisors Asset Management Inc. lifted its stake in Gartner by 1,662.7% during the second quarter. Advisors Asset Management Inc. now owns 23,920 shares of the information technology services provider’s stock worth $167,000 after purchasing an additional 22,563 shares during the last quarter. Finally, Glenmede Trust Co. NA lifted its stake in Gartner by 4.8% during the second quarter. Glenmede Trust Co. NA now owns 137,559 shares of the information technology services provider’s stock worth $18,282,000 after purchasing an additional 6,265 shares during the last quarter. Institutional investors own 96.80% of the company’s stock.
IT traded up $2.99 on Tuesday, reaching $160.00. 740,300 shares of the company’s stock were exchanged, compared to its average volume of 642,425. The company has a market cap of $14.39 billion, a PE ratio of 47.92, a price-to-earnings-growth ratio of 2.82 and a beta of 1.19. Gartner has a twelve month low of $111.57 and a twelve month high of $161.21. The company has a debt-to-equity ratio of 2.33, a quick ratio of 0.64 and a current ratio of 0.64.
Gartner Company Profile
Gartner, Inc operates as a research and advisory company. It operates through four segments: Research, Consulting, Events, and Talent Assessment & Other. The Research segment offers objective insights and advice on the priorities of various leaders in a range of functional areas of the enterprise through research and other reports, briefings, proprietary tools, access to our analysts, peer networking services, and membership programs that enable clients to make better decisions; and practice and talent management research insights in various business functions, such as human resources, sales, legal, and finance.
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