Equities analysts expect Gartner Inc (NYSE:IT) to report sales of $919.79 million for the current quarter, Zacks Investment Research reports. Four analysts have made estimates for Gartner’s earnings. The lowest sales estimate is $901.20 million and the highest is $931.20 million. Gartner posted sales of $828.09 million during the same quarter last year, which suggests a positive year-over-year growth rate of 11.1%. The firm is expected to report its next quarterly 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 year, with estimates ranging from $3.97 billion to $4.02 billion. For the next financial year, analysts forecast that the company will post sales of $4.40 billion, with estimates ranging from $4.36 billion to $4.45 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover Gartner.
Gartner (NYSE:IT) last issued its earnings results on Wednesday, August 1st. The information technology services provider reported $1.03 EPS for the quarter, topping the consensus estimate of $0.96 by $0.07. Gartner had a return on equity of 35.04% and a net margin of 2.25%. The business had revenue of $1 billion during the quarter, compared to the consensus estimate of $985.98 million. During the same quarter last year, the company earned $0.88 EPS. The firm’s revenue was up 18.7% compared to the same quarter last year.
IT has been the subject of several analyst reports. Barclays restated a “buy” rating and issued a $155.00 target price on shares of Gartner in a research note on Sunday, August 12th. BMO Capital Markets reiterated a “buy” rating and set a $161.00 price target (up previously from $147.00) on shares of Gartner in a research report on Friday, August 31st. ValuEngine downgraded Gartner from a “buy” rating to a “hold” rating in a research report on Thursday, August 2nd. Piper Jaffray Companies reiterated a “hold” rating and set a $116.00 price target on shares of Gartner in a research report on Thursday, August 2nd. Finally, Morgan Stanley lifted their price target on Gartner from $140.00 to $142.00 and gave the company an “equal weight” rating in a research report on Thursday, August 2nd. Five research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Gartner has a consensus rating of “Buy” and a consensus price target of $148.73.
NYSE IT traded down $0.67 during trading hours on Friday, hitting $152.54. The company had a trading volume of 597,200 shares, compared to its average volume of 639,576. Gartner has a 52 week low of $111.57 and a 52 week high of $161.21. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 2.33. The company has a market cap of $14.39 billion, a P/E ratio of 46.17, a P/E/G ratio of 2.82 and a beta of 1.19.
In related news, EVP Robin B. Kranich sold 4,000 shares of the business’s stock in a transaction that occurred on Monday, August 6th. The stock was sold at an average price of $140.09, for a total value of $560,360.00. Following the completion of the sale, the executive vice president now owns 16,916 shares in the company, valued at approximately $2,369,762.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Alwyn Dawkins sold 566 shares of the business’s stock in a transaction that occurred on Monday, August 13th. The stock was 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 approximately $4,226,181.26. The disclosure for this sale can be found here. In the last quarter, insiders have sold 55,306 shares of company stock valued at $7,795,227. Corporate insiders own 4.00% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the stock. Spence Asset Management lifted its position in Gartner by 1.5% in the 3rd quarter. Spence Asset Management now owns 55,852 shares of the information technology services provider’s stock worth $8,853,000 after buying an additional 831 shares during the last quarter. Rehmann Capital Advisory Group lifted its position in Gartner by 122.7% in the 2nd quarter. Rehmann Capital Advisory Group now owns 1,040 shares of the information technology services provider’s stock worth $138,000 after buying an additional 573 shares during the last quarter. Royal London Asset Management Ltd. bought a new stake in Gartner in the 2nd quarter worth approximately $4,846,000. Verition Fund Management LLC bought a new stake in Gartner in the 2nd quarter worth approximately $328,000. Finally, Advisors Asset Management Inc. lifted its position in Gartner by 1,662.7% in the 2nd quarter. Advisors Asset Management Inc. now owns 23,920 shares of the information technology services provider’s stock worth $167,000 after buying an additional 22,563 shares during the last quarter. Institutional investors own 96.80% of the company’s stock.
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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