Gartner, Inc. (IT) Announces Quarterly Earnings Results, Beats Estimates By $0.13 EPS
Gartner, Inc. (NYSE:IT) issued its quarterly earnings data on Thursday. The information technology services provider reported $0.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.13, Bloomberg Earnings reports. The firm had revenue of $828.09 million during the quarter, compared to analysts’ expectations of $826.09 million. Gartner had a return on equity of 103.10% and a net margin of 1.50%. Gartner’s revenue was up 44.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.58 earnings per share. Gartner updated its FY17 guidance to $3.39-3.50 EPS.
In other news, SVP Alwyn Dawkins sold 1,000 shares of Gartner stock in a transaction that occurred on Thursday, August 10th. The shares were sold at an average price of $118.62, for a total value of $118,620.00. Following the completion of the transaction, the senior vice president now owns 27,137 shares in the company, valued at $3,218,990.94. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Robin B. Kranich sold 7,487 shares of Gartner stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $120.08, for a total transaction of $899,038.96. Following the completion of the transaction, the senior vice president now 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 90 days, insiders have sold 23,363 shares of company stock valued at $2,775,387. Corporate insiders own 4.30% of the company’s stock.
A number of equities analysts have recently weighed in on IT shares. Piper Jaffray Companies reissued a “hold” rating and issued a $105.00 price target on shares of Gartner in a report on Thursday, August 31st. Cantor Fitzgerald reissued a “buy” rating and issued a $139.00 price target on shares of Gartner in a report on Thursday. Zacks Investment Research raised Gartner from a “hold” rating to a “buy” rating and set a $142.00 price target for the company in a report on Wednesday, July 19th. BidaskClub cut Gartner from a “buy” rating to a “hold” rating in a report on Wednesday, August 16th. Finally, TheStreet cut Gartner from a “b” rating to a “c+” rating in a report on Tuesday, August 8th. Five investment 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’s stock. The stock has an average rating of “Buy” and a consensus target price of $128.89.
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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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