Gartner, Inc. (IT) Expected to Announce Quarterly Sales of $1.03 Billion

Analysts expect that Gartner, Inc. (NYSE:IT) will post $1.03 billion in sales for the current quarter, Zacks Investment Research reports. Three analysts have issued estimates for Gartner’s earnings, with the lowest sales estimate coming in at $998.90 million and the highest estimate coming in at $1.05 billion. Gartner reported sales of $703.22 million in the same quarter last year, which would suggest a positive year over year growth rate of 46.5%. The company is scheduled to issue its next quarterly earnings results on Thursday, February 1st.

According to Zacks, analysts expect that Gartner will report full-year sales of $1.03 billion for the current year, with estimates ranging from $3.29 billion to $3.50 billion. For the next year, analysts anticipate that the firm will report sales of $4.04 billion per share, with estimates ranging from $3.97 billion to $4.07 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that cover Gartner.

Gartner (NYSE:IT) last posted its earnings results on Thursday, November 2nd. The information technology services provider reported $0.65 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.52 by $0.13. The business had revenue of $828.09 million for the quarter, compared to analyst estimates of $826.09 million. Gartner had a negative net margin of 1.25% and a positive return on equity of 57.60%. Gartner’s revenue was up 44.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.58 EPS.

A number of research firms recently weighed in on IT. Royal Bank of Canada upped their target price on shares of Gartner to $98.00 and gave the stock a “top pick” rating in a report on Friday. They noted that the move was a valuation call. Cantor Fitzgerald reaffirmed a “buy” rating and set a $139.00 target price on shares of Gartner in a report on Thursday, November 2nd. Morgan Stanley upped their target price on shares of Gartner from $118.00 to $120.00 and gave the stock an “equal weight” rating in a report on Monday, October 23rd. Zacks Investment Research raised shares of Gartner from a “hold” rating to a “buy” rating and set a $139.00 target price on the stock in a report on Monday, October 16th. Finally, BMO Capital Markets reissued a “buy” rating and issued a $137.00 price target on shares of Gartner in a report on Friday, October 13th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $128.10.

Shares of Gartner (NYSE:IT) opened at $137.35 on Friday. The company has a debt-to-equity ratio of 3.38, a quick ratio of 0.73 and a current ratio of 0.73. The firm has a market cap of $12,450.92, a P/E ratio of 44.31, a P/E/G ratio of 2.13 and a beta of 1.05. Gartner has a twelve month low of $95.40 and a twelve month high of $138.26.

Several large investors have recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in shares of Gartner by 32.4% in the 2nd quarter. Vanguard Group Inc. now owns 8,680,305 shares of the information technology services provider’s stock worth $1,072,104,000 after buying an additional 2,125,783 shares during the last quarter. Bamco Inc. NY increased its holdings in shares of Gartner by 0.9% in the 2nd quarter. Bamco Inc. NY now owns 7,055,955 shares of the information technology services provider’s stock worth $871,481,000 after buying an additional 60,789 shares during the last quarter. Janus Henderson Group PLC increased its holdings in shares of Gartner by 5.5% in the 3rd quarter. Janus Henderson Group PLC now owns 4,514,836 shares of the information technology services provider’s stock worth $561,691,000 after buying an additional 236,241 shares during the last quarter. Polen Capital Management LLC increased its holdings in shares of Gartner by 2.5% in the 3rd quarter. Polen Capital Management LLC now owns 4,072,192 shares of the information technology services provider’s stock worth $506,621,000 after buying an additional 99,243 shares during the last quarter. Finally, State Street Corp increased its holdings in shares of Gartner by 31.9% in the 2nd quarter. State Street Corp now owns 3,585,747 shares of the information technology services provider’s stock worth $442,867,000 after buying an additional 867,040 shares during the last quarter. 95.43% of the stock is currently owned by hedge funds and other institutional investors.

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About Gartner

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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