Gartner, Inc. (IT) Releases Quarterly Earnings Results, Beats Expectations By $0.05 EPS
Gartner, Inc. (NYSE:IT) issued its quarterly earnings data on Tuesday. The information technology services provider reported $0.88 EPS for the quarter, topping the consensus estimate of $0.83 by $0.05, Bloomberg Earnings reports. The firm had revenue of $843.73 million during the quarter, compared to the consensus estimate of $892.64 million. Gartner had a return on equity of 954.04% and a net margin of 7.22%. The company’s quarterly revenue was up 38.3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.75 earnings per share. Gartner updated its FY17 guidance to $3.32-3.49 EPS.
Shares of Gartner (IT) opened at 122.30 on Wednesday. The company’s 50 day moving average price is $125.94 and its 200-day moving average price is $113.36. Gartner has a 12 month low of $84.54 and a 12 month high of $130.02. The stock has a market capitalization of $11.06 billion, a P/E ratio of 55.59 and a beta of 1.05.
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Several analysts have recently commented on IT shares. BidaskClub downgraded Gartner from a “strong-buy” rating to a “buy” rating in a research note on Wednesday. Credit Suisse Group reissued a “buy” rating and issued a $124.00 price objective on shares of Gartner in a research note on Tuesday, April 11th. Morgan Stanley increased their price objective on Gartner from $106.00 to $112.00 and gave the stock an “equal weight” rating in a research note on Monday, May 8th. BMO Capital Markets increased their price objective on Gartner from $110.00 to $128.00 and gave the stock an “outperform” rating in a research note on Monday, May 1st. Finally, Zacks Investment Research downgraded Gartner from a “buy” rating to a “hold” rating in a research note on Tuesday, July 11th. Three research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $126.44.
In other news, SVP Peter Sondergaard sold 4,172 shares of the company’s stock in a transaction on Thursday, May 18th. The stock was sold at an average price of $111.90, for a total value of $466,846.80. Following the completion of the sale, the senior vice president now directly owns 93,765 shares in the company, valued at approximately $10,492,303.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Alwyn Dawkins sold 1,400 shares of the company’s stock in a transaction on 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 owns 29,085 shares of the company’s stock, valued at $3,375,314.25. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 49,297 shares of company stock valued at $5,793,254. Company insiders own 4.40% of the company’s stock.
Several large investors have recently bought and sold shares of IT. Benjamin F. Edwards & Company Inc. bought a new stake in Gartner during the second quarter valued at approximately $124,000. Bronfman E.L. Rothschild L.P. increased 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 in the last quarter. Global X Management Co. LLC increased 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 in the last quarter. 1st Global Advisors Inc. purchased a new position in shares of Gartner during the first quarter valued at $204,000. Finally, Creative Planning increased its position in shares of Gartner by 35.8% in the first quarter. Creative Planning now owns 1,927 shares of the information technology services provider’s stock valued at $208,000 after buying an additional 508 shares in the last quarter. Hedge funds and other institutional investors own 87.01% 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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