$1.08 Billion in Sales Expected for Gartner Inc (NYSE:IT) This Quarter

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Equities research analysts forecast that Gartner Inc (NYSE:IT) will post sales of $1.08 billion for the current fiscal quarter, according to Zacks Investment Research. Four analysts have issued estimates for Gartner’s earnings. The lowest sales estimate is $1.06 billion and the highest is $1.09 billion. Gartner reported sales of $1.00 billion during the same quarter last year, which indicates a positive year-over-year growth rate of 8%. The company is expected to report its next quarterly earnings results on Wednesday, August 7th.

According to Zacks, analysts expect that Gartner will report full-year sales of $4.27 billion for the current year, with estimates ranging from $4.25 billion to $4.28 billion. For the next fiscal year, analysts forecast that the company will report sales of $4.75 billion, with estimates ranging from $4.71 billion to $4.81 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that follow Gartner.

Gartner (NYSE:IT) last released its quarterly earnings results on Tuesday, May 7th. The information technology services provider reported $0.58 earnings per share for the quarter, topping analysts’ consensus estimates of $0.53 by $0.05. Gartner had a return on equity of 37.59% and a net margin of 4.09%. The firm had revenue of $970.00 million during the quarter, compared to the consensus estimate of $960.72 million. During the same quarter in the prior year, the firm posted $0.72 EPS. The business’s revenue was up .6% on a year-over-year basis.

IT has been the subject of a number of recent research reports. Cantor Fitzgerald reaffirmed a “hold” rating and set a $141.00 price target on shares of Gartner in a research report on Thursday, February 14th. Zacks Investment Research downgraded Gartner from a “hold” rating to a “sell” rating in a research report on Monday, April 15th. Morgan Stanley upped their price target on Gartner from $147.00 to $148.00 and gave the stock an “equal weight” rating in a research report on Wednesday, May 8th. Finally, BMO Capital Markets upped their price target on Gartner from $150.00 to $155.00 and gave the stock a “market perform” rating in a research report on Wednesday, May 8th. One research analyst has rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $148.38.

In other news, EVP Michael Patrick Diliberto sold 700 shares of the stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $154.00, for a total value of $107,800.00. Following the completion of the sale, the executive vice president now owns 8,652 shares of the company’s stock, valued at approximately $1,332,408. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Robin B. Kranich sold 6,366 shares of the stock in a transaction that occurred on Friday, May 17th. The shares were sold at an average price of $154.27, for a total value of $982,082.82. Following the completion of the sale, the executive vice president now directly owns 10,265 shares of the company’s stock, valued at approximately $1,583,581.55. The disclosure for this sale can be found here. In the last three months, insiders sold 13,610 shares of company stock valued at $2,103,725. 4.00% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Avestar Capital LLC increased its holdings in Gartner by 1,036.8% in the first quarter. Avestar Capital LLC now owns 216 shares of the information technology services provider’s stock worth $31,000 after purchasing an additional 197 shares in the last quarter. Rockefeller Capital Management L.P. bought a new stake in Gartner during the first quarter worth approximately $42,000. Sontag Advisory LLC bought a new stake in Gartner during the fourth quarter worth approximately $47,000. Claybrook Capital LLC bought a new stake in Gartner during the fourth quarter worth approximately $51,000. Finally, Smithfield Trust Co. increased its stake in Gartner by 80.9% during the first quarter. Smithfield Trust Co. now owns 425 shares of the information technology services provider’s stock worth $64,000 after acquiring an additional 190 shares during the last quarter. 99.03% of the stock is owned by institutional investors.

NYSE:IT traded down $0.48 during trading hours on Tuesday, reaching $158.12. 4,736 shares of the stock were exchanged, compared to its average volume of 287,044. Gartner has a twelve month low of $120.89 and a twelve month high of $161.85. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 3.34. The company has a market cap of $14.29 billion, a P/E ratio of 41.72, a price-to-earnings-growth ratio of 2.81 and a beta of 1.28.

About Gartner

Gartner, Inc operates as a research and advisory company. It operates through three segments: Research, Conferences, and Consulting. 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 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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