Gartner, Inc. (IT) Expected to Announce Quarterly Sales of $853.03 Million
Wall Street analysts expect Gartner, Inc. (NYSE:IT) to report $853.03 million in sales for the current quarter, Zacks reports. Three analysts have provided estimates for Gartner’s earnings. The lowest sales estimate is $812.30 million and the highest is $875.39 million. Gartner reported sales of $574.06 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 48.6%. The firm is scheduled to issue its next quarterly earnings results before the market opens on Thursday, November 2nd.
According to Zacks, analysts expect that Gartner will report full year sales of $853.03 million for the current financial year, with estimates ranging from $3.27 billion to $3.49 billion. For the next year, analysts anticipate that the business will post sales of $4.03 billion per share, with estimates ranging from $3.96 billion to $4.07 billion. Zacks’ sales calculations are an average based on a survey of analysts that follow Gartner.
Gartner (NYSE:IT) last released its earnings results on Tuesday, August 8th. The information technology services provider reported $0.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.83 by $0.05. The company had revenue of $843.73 million during the quarter, compared to analyst estimates of $892.64 million. Gartner had a return on equity of 103.10% and a net margin of 1.50%. Gartner’s quarterly revenue was up 38.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.75 earnings per share.
A number of brokerages have weighed in on IT. BidaskClub lowered shares of Gartner from a “buy” rating to a “hold” rating in a research note on Wednesday, August 16th. BMO Capital Markets reissued an “outperform” rating and set a $132.00 price objective (down previously from $137.00) on shares of Gartner in a research report on Monday, August 14th. Zacks Investment Research downgraded shares of Gartner from a “buy” rating to a “hold” rating in a research report on Friday, August 11th. Credit Suisse Group reissued an “outperform” rating and set a $138.00 price objective (up previously from $130.00) on shares of Gartner in a research report on Wednesday, August 9th. Finally, Piper Jaffray Companies reissued a “hold” rating and set a $105.00 price objective on shares of Gartner in a research report on Thursday, August 31st. Five equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. Gartner has an average rating of “Buy” and an average target price of $126.78.
In other Gartner news, SVP Alwyn Dawkins sold 1,000 shares of the company’s stock in a transaction dated Thursday, August 10th. The shares were sold at an average price of $118.62, for a total value of $118,620.00. Following the transaction, the senior vice president now directly owns 27,137 shares in the company, valued at approximately $3,218,990.94. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Anne Sutherland Fuchs sold 5,000 shares of the company’s stock in a transaction dated Friday, August 25th. The stock was sold at an average price of $118.92, for a total transaction of $594,600.00. Following the completion of the transaction, the director now owns 27,395 shares in the company, valued at $3,257,813.40. The disclosure for this sale can be found here. Insiders have sold a total of 23,363 shares of company stock worth $2,775,387 over the last 90 days. Corporate insiders own 4.30% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in shares of Gartner by 32.4% during the second quarter. Vanguard Group Inc. now owns 8,680,305 shares of the information technology services provider’s stock valued at $1,072,104,000 after purchasing an additional 2,125,783 shares in the last quarter. Bamco Inc. NY boosted its stake in shares of Gartner by 0.9% during the second quarter. Bamco Inc. NY now owns 7,055,955 shares of the information technology services provider’s stock valued at $871,481,000 after purchasing an additional 60,789 shares in the last quarter. Janus Henderson Group PLC boosted its stake in shares of Gartner by 1,426.9% during the second quarter. Janus Henderson Group PLC now owns 4,278,595 shares of the information technology services provider’s stock valued at $528,449,000 after purchasing an additional 3,998,373 shares in the last quarter. Polen Capital Management LLC boosted its stake in shares of Gartner by 6.9% during the second quarter. Polen Capital Management LLC now owns 3,972,949 shares of the information technology services provider’s stock valued at $490,699,000 after purchasing an additional 257,899 shares in the last quarter. Finally, State Street Corp boosted its stake in shares of Gartner by 31.9% during the second quarter. State Street Corp now owns 3,585,747 shares of the information technology services provider’s stock valued at $442,867,000 after purchasing an additional 867,040 shares in the last quarter. Hedge funds and other institutional investors own 91.87% of the company’s stock.
Gartner (NYSE IT) opened at 125.28 on Monday. The firm’s 50-day moving average price is $123.43 and its 200 day moving average price is $120.30. The company has a market capitalization of $11.35 billion, a price-to-earnings ratio of 257.25 and a beta of 1.07. Gartner has a one year low of $84.54 and a one year high of $130.02.
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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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