Gartner, Inc. (NYSE:IT) Issues FY17 Earnings Guidance
Gartner, Inc. (NYSE:IT) issued an update on its FY17 earnings guidance on Tuesday morning. The company provided EPS guidance of $3.32-3.49 for the period, compared to the Thomson Reuters consensus EPS estimate of $3.48.
Shares of Gartner, Inc. (NYSE:IT) traded down 3.62% during midday trading on Tuesday, reaching $121.68. 144,449 shares of the company were exchanged. Gartner, Inc. has a 52-week low of $84.54 and a 52-week high of $130.02. The stock has a market capitalization of $11.00 billion, a price-to-earnings ratio of 55.31 and a beta of 1.05. The company’s 50-day moving average price is $125.47 and its 200 day moving average price is $113.06.
Gartner (NYSE:IT) last announced its quarterly earnings results on Tuesday, August 8th. The information technology services provider reported $0.88 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.84 by $0.04. Gartner had a net margin of 7.22% and a return on equity of 954.04%. The firm had revenue of $843.73 million for the quarter, compared to analyst estimates of $892.64 million. During the same quarter in the previous year, the firm posted $0.75 earnings per share. The business’s revenue was up 38.3% on a year-over-year basis. On average, equities analysts predict that Gartner, Inc. will post $3.48 earnings per share for the current year.
A number of analysts have recently issued reports on the stock. Cantor Fitzgerald reiterated a buy rating and issued a $128.00 price objective on shares of Gartner in a report on Monday, May 8th. Credit Suisse Group reiterated a buy rating and issued a $124.00 price objective on shares of Gartner in a report on Tuesday, April 11th. Royal Bank Of Canada lifted their price objective on shares of Gartner from $124.00 to $130.00 and gave the company a top pick rating in a report on Friday, May 5th. Zacks Investment Research upgraded shares of Gartner from a hold rating to a buy rating and set a $142.00 price objective on the stock in a report on Wednesday, July 19th. Finally, Morgan Stanley lifted their price objective on shares of Gartner from $106.00 to $112.00 and gave the company an equal weight rating in a report on Monday, May 8th. Four equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. Gartner has a consensus rating of Buy and an average target price of $122.00.
In other Gartner news, SVP Peter Sondergaard sold 4,172 shares of the company’s stock in a transaction on Thursday, May 18th. The shares were sold at an average price of $111.90, for a total value of $466,846.80. Following the transaction, the senior vice president now directly owns 93,765 shares in the company, valued at $10,492,303.50. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Alwyn Dawkins sold 1,400 shares of the company’s stock in a transaction on Wednesday, May 24th. The shares were sold at an average price of $116.05, for a total transaction of $162,470.00. Following the completion of the transaction, the senior vice president now owns 29,085 shares in the company, valued at $3,375,314.25. The disclosure for this sale can be found here. Over the last quarter, insiders sold 49,297 shares of company stock worth $5,793,254. Corporate insiders own 4.40% of the company’s stock.
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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