Wall Street analysts expect Gartner Inc (NYSE:IT) to post $929.10 million in sales for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for Gartner’s earnings. The highest sales estimate is $933.50 million and the lowest is $926.90 million. Gartner reported sales of $625.17 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 48.6%. The company is expected to issue its next quarterly earnings results on Thursday, May 3rd.
According to Zacks, analysts expect that Gartner will report full year sales of $929.10 million for the current financial year, with estimates ranging from $4.13 billion to $4.17 billion. For the next financial year, analysts anticipate that the firm will post sales of $4.58 billion per share, with estimates ranging from $4.50 billion to $4.64 billion. Zacks’ sales averages are a mean average based on a survey of research analysts that cover Gartner.
Gartner (NYSE:IT) last posted its quarterly earnings results on Tuesday, February 6th. The information technology services provider reported $1.17 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.32 by ($0.15). The company had revenue of $1.01 billion for the quarter, compared to analyst estimates of $1 billion. Gartner had a return on equity of 42.47% and a net margin of 0.10%. The firm’s revenue for the quarter was up 44.3% compared to the same quarter last year. During the same period last year, the firm earned $0.97 EPS.
IT has been the topic of a number of recent analyst reports. Morgan Stanley boosted their target price on Gartner from $120.00 to $131.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 31st. Cantor Fitzgerald reissued a “buy” rating and set a $139.00 target price on shares of Gartner in a report on Tuesday, February 6th. Piper Jaffray Companies reissued a “hold” rating and set a $136.00 target price on shares of Gartner in a report on Tuesday, January 30th. TheStreet raised Gartner from a “c+” rating to a “b” rating in a report on Tuesday, February 6th. Finally, Goldman Sachs Group initiated coverage on Gartner in a report on Wednesday, November 8th. They set a “buy” rating and a $146.00 target price on the stock. Four equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $138.90.
Gartner (NYSE IT) traded down $2.03 during trading hours on Friday, hitting $115.93. The company’s stock had a trading volume of 509,059 shares, compared to its average volume of 790,721. The company has a debt-to-equity ratio of 2.95, a current ratio of 0.92 and a quick ratio of 0.92. The firm has a market cap of $10,510.00, a price-to-earnings ratio of 3,864.33, a price-to-earnings-growth ratio of 1.93 and a beta of 1.06. Gartner has a 52-week low of $101.86 and a 52-week high of $142.16.
In related news, CEO Eugene A. Hall sold 49,687 shares of the business’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $116.39, for a total value of $5,783,069.93. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Eugene A. Hall sold 15,891 shares of the business’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $117.28, for a total value of $1,863,696.48. Following the completion of the sale, the chief executive officer now owns 1,173,780 shares of the company’s stock, valued at $137,660,918.40. The disclosure for this sale can be found here. Insiders have sold a total of 71,291 shares of company stock worth $8,310,331 over the last three months. 4.30% of the stock is owned by insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Advisory Services Network LLC boosted its stake in Gartner by 466.7% in the 2nd quarter. Advisory Services Network LLC now owns 969 shares of the information technology services provider’s stock valued at $120,000 after purchasing an additional 798 shares during the period. Pin Oak Investment Advisors Inc. bought a new stake in Gartner in the 4th quarter valued at $145,000. Tower Research Capital LLC TRC boosted its stake in Gartner by 552.7% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,475 shares of the information technology services provider’s stock valued at $182,000 after purchasing an additional 1,249 shares during the period. Advisors Asset Management Inc. boosted its stake in Gartner by 52.4% in the 3rd quarter. Advisors Asset Management Inc. now owns 1,468 shares of the information technology services provider’s stock valued at $183,000 after purchasing an additional 505 shares during the period. Finally, Fieldpoint Private Securities LLC bought a new stake in Gartner in the 3rd quarter valued at $185,000. Institutional investors and hedge funds own 96.97% of the company’s stock.
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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