Analysts expect that Gartner, Inc. (NYSE:IT) will announce $880.11 million in sales for the current fiscal quarter, Zacks Investment Research reports. Three analysts have made estimates for Gartner’s earnings, with estimates ranging from $873.70 million to $888.90 million. Gartner posted sales of $574.06 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 53.3%. The business is expected to announce its next quarterly earnings results on Thursday, November 2nd.
On average, analysts expect that Gartner will report full-year sales of $880.11 million for the current financial year, with estimates ranging from $3.46 billion to $3.48 billion. For the next financial year, analysts anticipate that the company will post sales of $4.03 billion per share, with estimates ranging from $4.00 billion to $4.06 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that cover Gartner.
Gartner (NYSE:IT) last released its quarterly earnings data on Tuesday, August 8th. The information technology services provider reported $0.88 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.83 by $0.05. The company had revenue of $843.73 million for the quarter, compared to analysts’ expectations of $892.64 million. Gartner had a net margin of 1.50% and a return on equity of 508.22%. The business’s revenue was up 38.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.75 EPS.
A number of brokerages have recently weighed in on IT. Zacks Investment Research raised shares of Gartner from a “hold” rating to a “buy” rating and set a $142.00 target price on the stock in a research note on Wednesday, July 19th. Credit Suisse Group reaffirmed an “outperform” rating and set a $130.00 target price (up previously from $124.00) on shares of Gartner in a research note on Friday, May 5th. Royal Bank Of Canada lifted their target price on shares of Gartner from $124.00 to $130.00 and gave the company a “top pick” rating in a research note on Friday, May 5th. TheStreet lowered shares of Gartner from a “b” rating to a “c+” rating in a research note on Tuesday. Finally, Cantor Fitzgerald reaffirmed a “buy” rating and set a $128.00 target price on shares of Gartner in a research note on Monday, May 8th. Three research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $126.44.
In other Gartner news, SVP Peter Sondergaard sold 4,172 shares of Gartner stock in a transaction dated Thursday, May 18th. The shares were sold at an average price of $111.90, for a total value of $466,846.80. Following the completion of the transaction, the senior vice president now directly owns 93,765 shares of the company’s stock, valued at $10,492,303.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Eugene A. Hall sold 38,800 shares of Gartner stock in a transaction dated Tuesday, May 30th. The stock was sold at an average price of $117.86, for a total transaction of $4,572,968.00. Following the completion of the transaction, the chief executive officer now directly owns 1,304,375 shares of the company’s stock, valued at $153,733,637.50. The disclosure for this sale can be found here. Insiders have sold 49,297 shares of company stock worth $5,793,254 in the last three months. 4.40% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of IT. Benjamin F. Edwards & Company Inc. purchased a new position in shares of Gartner during the second quarter valued at about $124,000. Bronfman E.L. Rothschild L.P. boosted its position in shares of Gartner by 9.5% in the second quarter. Bronfman E.L. Rothschild L.P. now owns 1,182 shares of the information technology services provider’s stock valued at $146,000 after buying an additional 103 shares during the period. Commonwealth Bank of Australia boosted its position in shares of Gartner by 20.0% in the second quarter. Commonwealth Bank of Australia now owns 1,200 shares of the information technology services provider’s stock valued at $148,000 after buying an additional 200 shares during the period. Sequoia Financial Advisors LLC purchased a new position in shares of Gartner during the second quarter valued at about $210,000. Finally, Global X Management Co. LLC boosted its position in shares of Gartner by 31.6% in the first quarter. Global X Management Co. LLC now owns 1,725 shares of the information technology services provider’s stock valued at $186,000 after buying an additional 414 shares during the period. 87.01% of the stock is owned by institutional investors and hedge funds.
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Gartner (IT) traded down 1.33% during trading on Thursday, hitting $118.50. 119,456 shares of the stock were exchanged. The stock has a market cap of $10.74 billion, a P/E ratio of 243.33 and a beta of 1.05. The stock has a 50 day moving average of $125.93 and a 200-day moving average of $113.97. Gartner has a 52 week low of $84.54 and a 52 week high of $130.02.
Gartner Company Profile
Gartner, Inc is an information technology research and advisory company. The Company works with clients to research, analyze and interpret the business of information technology (IT), supply chain and marketing within the context of their individual roles. It operates in three segments: Research, Consulting and Events.
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