Gartner, Inc. (IT) Forecasted to Earn FY2017 Earnings of $3.42 Per Share
Gartner, Inc. (NYSE:IT) – Cantor Fitzgerald increased their FY2017 earnings per share estimates for shares of Gartner in a note issued to investors on Wednesday. Cantor Fitzgerald analyst J. Foresi now anticipates that the information technology services provider will earn $3.42 per share for the year, up from their prior estimate of $3.41.
Several other brokerages have also recently weighed in on IT. Royal Bank Of Canada reiterated a “top pick” rating and issued a $142.00 target price (up from $130.00) on shares of Gartner in a report on Friday, July 21st. Zacks Investment Research upgraded Gartner from a “hold” rating to a “buy” rating and set a $142.00 target price for the company in a report on Wednesday, July 19th. BMO Capital Markets reiterated a “buy” rating and issued a $132.00 target price on shares of Gartner in a report on Wednesday. BidaskClub cut Gartner from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 9th. Finally, Credit Suisse Group AG reiterated an “outperform” rating and issued a $138.00 target price (up from $130.00) on shares of Gartner in a report on Wednesday, August 9th. Six equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $126.56.
Gartner (NYSE:IT) opened at 122.75 on Friday. The company has a market cap of $11.12 billion, a P/E ratio of 252.05 and a beta of 1.07. The firm has a 50-day moving average price of $122.11 and a 200-day moving average price of $119.19. Gartner has a 12-month low of $84.54 and a 12-month high of $130.02.
Gartner (NYSE:IT) last posted its quarterly earnings data on Tuesday, August 8th. The information technology services provider reported $0.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.83 by $0.05. The business 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 103.10% and a net margin of 1.50%. The firm’s quarterly revenue was up 38.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.75 earnings per share.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Advisory Services Network LLC lifted its stake in shares of Gartner by 466.7% during the 2nd quarter. Advisory Services Network LLC now owns 969 shares of the information technology services provider’s stock worth $120,000 after purchasing an additional 798 shares during the last quarter. Benjamin F. Edwards & Company Inc. acquired a new position in Gartner during the 2nd quarter valued at about $124,000. Bronfman E.L. Rothschild L.P. increased its position in Gartner by 9.5% during the 2nd 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. Commonwealth Bank of Australia increased its position in Gartner by 20.0% during the 2nd quarter. Commonwealth Bank of Australia now owns 1,200 shares of the information technology services provider’s stock valued at $148,000 after buying an additional 200 shares in the last quarter. Finally, Global X Management Co. LLC increased its position in Gartner by 31.6% during the 1st 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. Hedge funds and other institutional investors own 91.95% of the company’s stock.
In related news, SVP Robin B. Kranich sold 7,487 shares of the company’s stock in a transaction on Friday, September 1st. The stock was sold at an average price of $120.08, for a total transaction of $899,038.96. Following the completion of the sale, the senior vice president now directly owns 21,298 shares in the company, valued at approximately $2,557,463.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Alwyn Dawkins sold 1,000 shares of the company’s stock in a transaction on Thursday, August 10th. The stock was sold at an average price of $118.62, for a total value of $118,620.00. Following the sale, the senior vice president now owns 27,137 shares of the company’s stock, valued at $3,218,990.94. The disclosure for this sale can be found here. Insiders have sold a total of 23,363 shares of company stock valued at $2,775,387 over the last 90 days. 4.40% of the stock is currently owned by company insiders.
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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