Gartner, Inc. (IT) Expected to Post Quarterly Sales of $920.33 Million
Equities research analysts expect Gartner, Inc. (NYSE:IT) to report $920.33 million in sales for the current quarter, Zacks reports. Three analysts have issued estimates for Gartner’s earnings, with the lowest sales estimate coming in at $914.40 million and the highest estimate coming in at $926.68 million. Gartner reported sales of $610.00 million in the same quarter last year, which indicates a positive year-over-year growth rate of 50.9%. The company is scheduled to report its next quarterly earnings results before the market opens on Tuesday, August 8th.
On average, analysts expect that Gartner will report full-year sales of $920.33 million for the current fiscal year, with estimates ranging from $3.27 billion to $3.48 billion. For the next fiscal year, analysts expect that the company will post sales of $4.03 billion per share, with estimates ranging from $4.00 billion to $4.06 billion. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that cover Gartner.
Gartner (NYSE:IT) last issued its quarterly earnings data on Thursday, May 4th. The information technology services provider reported $0.60 earnings per share for the quarter, missing analysts’ consensus estimates of $0.61 by $0.01. Gartner had a net margin of 7.22% and a return on equity of 954.04%. The company had revenue of $625.17 million for the quarter, compared to the consensus estimate of $612.84 million. During the same period in the previous year, the business earned $0.67 EPS. Gartner’s revenue for the quarter was up 12.2% compared to the same quarter last year.
Several equities research analysts have weighed in on the company. Cantor Fitzgerald restated a “buy” rating and set a $128.00 price target on shares of Gartner in a report on Monday, May 8th. Royal Bank Of Canada restated a “top pick” rating and set a $142.00 price target (up previously from $130.00) on shares of Gartner in a report on Friday. Credit Suisse Group restated a “buy” rating and set a $124.00 price target on shares of Gartner in a report on Tuesday, April 11th. Morgan Stanley upped their price target on Gartner from $106.00 to $112.00 and gave the stock an “equal weight” rating in a report on Monday, May 8th. Finally, Zacks Investment Research raised Gartner from a “hold” rating to a “buy” rating and set a $142.00 price objective for the company in a research report on Wednesday. Four investment analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $120.82.
In related news, SVP Alwyn Dawkins sold 1,400 shares of the company’s stock in a transaction dated Wednesday, May 24th. The stock was sold at an average price of $116.05, for a total value of $162,470.00. Following the completion of the sale, the senior vice president now directly owns 29,085 shares of the company’s stock, valued at approximately $3,375,314.25. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP David Godfrey sold 1,425 shares of the company’s stock in a transaction dated Friday, June 2nd. The shares were sold at an average price of $120.41, for a total value of $171,584.25. Following the completion of the sale, the senior vice president now directly owns 10,759 shares of the company’s stock, valued at $1,295,491.19. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 49,297 shares of company stock valued at $5,793,254. Insiders own 4.40% of the company’s stock.
Several hedge funds have recently made changes to their positions in IT. Quadrature Capital Ltd boosted its stake in shares of Gartner by 344.1% in the fourth quarter. Quadrature Capital Ltd now owns 16,863 shares of the information technology services provider’s stock worth $1,705,000 after buying an additional 13,066 shares during the period. Teachers Advisors LLC boosted its stake in shares of Gartner by 21.1% in the fourth quarter. Teachers Advisors LLC now owns 84,611 shares of the information technology services provider’s stock worth $8,552,000 after buying an additional 14,729 shares during the period. Pensionfund Sabic purchased a new stake in shares of Gartner during the first quarter worth about $1,533,000. Pensionfund DSM Netherlands purchased a new stake in shares of Gartner during the first quarter worth about $3,045,000. Finally, Raymond James Trust N.A. purchased a new stake in shares of Gartner during the first quarter worth about $208,000. 87.07% of the stock is owned by hedge funds and other institutional investors.
Shares of Gartner (NYSE:IT) traded up 0.64% during midday trading on Friday, reaching $128.26. The company had a trading volume of 655,078 shares. The company has a market capitalization of $11.60 billion, a P/E ratio of 58.30 and a beta of 1.05. The company’s 50 day moving average price is $123.56 and its 200-day moving average price is $111.19. Gartner has a 52 week low of $84.54 and a 52 week high of $129.24.
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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