$919.79 Million in Sales Expected for Gartner Inc (IT) This Quarter
Wall Street brokerages expect Gartner Inc (NYSE:IT) to announce $919.79 million in sales for the current quarter, according to Zacks. Four analysts have issued estimates for Gartner’s earnings, with the lowest sales estimate coming in at $901.20 million and the highest estimate coming in at $931.20 million. Gartner posted sales of $828.09 million during the same quarter last year, which suggests a positive year over year growth rate of 11.1%. The firm is scheduled to announce its next earnings results on Thursday, November 1st.
On average, analysts expect that Gartner will report full year sales of $4.00 billion for the current financial year, with estimates ranging from $3.97 billion to $4.02 billion. For the next year, analysts expect that the firm will report sales of $4.40 billion per share, with estimates ranging from $4.36 billion to $4.45 billion. Zacks’ sales averages are an average based on a survey of sell-side research analysts that cover Gartner.
Gartner (NYSE:IT) last announced its quarterly earnings results on Wednesday, August 1st. The information technology services provider reported $1.03 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.96 by $0.07. Gartner had a net margin of 2.25% and a return on equity of 35.04%. The business had revenue of $1 billion for the quarter, compared to analysts’ expectations of $985.98 million. During the same quarter last year, the firm earned $0.88 EPS. The firm’s revenue for the quarter was up 18.7% compared to the same quarter last year.
In related news, EVP Robin B. Kranich sold 4,000 shares of Gartner stock in a transaction that occurred on Monday, August 6th. The shares were sold at an average price of $140.09, for a total value of $560,360.00. Following the sale, the executive vice president now owns 16,916 shares of the company’s stock, valued at approximately $2,369,762.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Mr Thomas Christopher sold 1,400 shares of Gartner stock in a transaction that occurred on Friday, August 31st. The stock was sold at an average price of $149.81, for a total transaction of $209,734.00. Following the completion of the sale, the executive vice president now directly owns 18,738 shares in the company, valued at approximately $2,807,139.78. The disclosure for this sale can be found here. Insiders sold a total of 55,306 shares of company stock worth $7,795,227 in the last ninety days. 4.30% of the stock is currently owned by insiders.
Several large investors have recently bought and sold shares of the stock. Polen Capital Management LLC grew its stake in Gartner by 1.7% in the 2nd quarter. Polen Capital Management LLC now owns 5,487,422 shares of the information technology services provider’s stock valued at $729,278,000 after buying an additional 93,895 shares in the last quarter. Janus Henderson Group PLC grew its stake in Gartner by 11.6% in the 2nd quarter. Janus Henderson Group PLC now owns 5,238,694 shares of the information technology services provider’s stock valued at $696,223,000 after buying an additional 543,074 shares in the last quarter. Select Equity Group L.P. grew its stake in Gartner by 4.8% in the 1st quarter. Select Equity Group L.P. now owns 4,977,101 shares of the information technology services provider’s stock valued at $585,407,000 after buying an additional 227,874 shares in the last quarter. Principal Financial Group Inc. grew its stake in Gartner by 22.6% in the 1st quarter. Principal Financial Group Inc. now owns 3,589,077 shares of the information technology services provider’s stock valued at $422,148,000 after buying an additional 662,107 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its stake in Gartner by 114.6% in the 1st quarter. JPMorgan Chase & Co. now owns 1,713,982 shares of the information technology services provider’s stock valued at $201,598,000 after buying an additional 915,229 shares in the last quarter. 96.80% of the stock is currently owned by institutional investors.
NYSE IT traded up $1.47 during trading hours on Tuesday, hitting $158.38. The company’s stock had a trading volume of 7,570 shares, compared to its average volume of 469,981. Gartner has a 52 week low of $111.57 and a 52 week high of $159.17. The stock has a market cap of $13.99 billion, a price-to-earnings ratio of 47.73, a PEG ratio of 2.74 and a beta of 1.19. The company has a debt-to-equity ratio of 2.33, a quick ratio of 0.64 and a current ratio of 0.64.
Gartner Company Profile
Gartner, Inc operates as a research and advisory company. It operates through four segments: Research, Consulting, Events, and Talent Assessment & Other. The Research segment offers objective insights and advice on the priorities of various leaders in a range of functional areas of the enterprise through research and other reports, briefings, proprietary tools, access to our analysts, peer networking services, and membership programs that enable clients to make better decisions; and practice and talent management research insights in various business functions, such as human resources, sales, legal, and finance.
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