Gartner, Inc. Forecasted to Post Q3 2017 Earnings of $0.52 Per Share (IT)
Gartner, Inc. (NYSE:IT) – William Blair lifted their Q3 2017 earnings per share (EPS) estimates for shares of Gartner in a report released on Tuesday. William Blair analyst T. Mchugh now anticipates that the information technology services provider will post earnings of $0.52 per share for the quarter, up from their prior forecast of $0.51.
Gartner (NYSE:IT) last issued its quarterly earnings data on Tuesday, August 8th. The information technology services provider reported $0.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.83 by $0.05. The business had revenue of $843.73 million during the quarter, compared to analyst estimates of $892.64 million. Gartner had a net margin of 1.50% and a return on equity of 103.10%. The firm’s quarterly revenue was up 38.3% on a year-over-year basis. During the same quarter last year, the business earned $0.75 EPS.
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Other analysts have also issued research reports about the company. BidaskClub lowered Gartner from a “buy” rating to a “hold” rating in a research note on Wednesday, August 16th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $132.00 target price (down previously from $137.00) on shares of Gartner in a research note on Monday, August 14th. Zacks Investment Research lowered Gartner from a “buy” rating to a “hold” rating in a research note on Friday, August 11th. Credit Suisse Group reaffirmed an “outperform” rating and issued a $138.00 target price (up previously from $130.00) on shares of Gartner in a research note on Wednesday, August 9th. Finally, Piper Jaffray Companies reaffirmed a “hold” rating and issued a $105.00 target price on shares of Gartner in a research note on Thursday, August 31st. Six analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $126.56.
Gartner (IT) opened at 122.92 on Thursday. Gartner has a one year low of $84.54 and a one year high of $130.02. The company has a market cap of $11.14 billion, a price-to-earnings ratio of 252.40 and a beta of 1.07. The company has a 50-day moving average of $122.00 and a 200-day moving average of $119.16.
Large investors have recently added to or reduced their stakes in the company. Advisory Services Network LLC boosted its stake in shares of Gartner by 466.7% during the second 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. Benjamin F. Edwards & Company Inc. purchased a new stake in shares of Gartner during the second quarter valued at approximately $124,000. Bronfman E.L. Rothschild L.P. boosted its stake in shares of Gartner by 9.5% during 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 purchasing an additional 103 shares during the period. Commonwealth Bank of Australia boosted its stake in shares of Gartner by 20.0% during 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 purchasing an additional 200 shares during the period. Finally, Global X Management Co. LLC boosted its stake in shares of Gartner by 31.6% during 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 purchasing an additional 414 shares during the period. 91.95% of the stock is owned by hedge funds and other institutional investors.
In other news, Director Anne Sutherland Fuchs sold 5,000 shares of the stock in a transaction that occurred on Tuesday, August 15th. The stock was sold at an average price of $117.02, for a total transaction of $585,100.00. Following the completion of the sale, the director now owns 29,895 shares of the company’s stock, valued at $3,498,312.90. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Robin B. Kranich sold 7,487 shares of the stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $120.08, for a total value of $899,038.96. Following the sale, the senior vice president now directly owns 21,298 shares of the company’s stock, valued at approximately $2,557,463.84. The disclosure for this sale can be found here. In the last three months, insiders have sold 23,363 shares of company stock valued at $2,775,387. Insiders own 4.40% 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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