Gartner, Inc. (NYSE:IT) issued its quarterly earnings results on Tuesday, August 8th. The information technology services provider reported $0.88 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.83 by $0.05, Bloomberg Earnings reports. Gartner had a return on equity of 103.10% and a net margin of 1.50%. The company had revenue of $843.73 million for the quarter, compared to the consensus estimate of $892.64 million. During the same period last year, the business posted $0.75 earnings per share. The firm’s revenue was up 38.3% compared to the same quarter last year. Gartner updated its FY17 guidance to $3.32-3.49 EPS.
Shares of Gartner (IT) opened at 119.51 on Friday. The firm’s 50-day moving average is $124.87 and its 200-day moving average is $114.75. The firm has a market cap of $10.83 billion, a price-to-earnings ratio of 245.40 and a beta of 1.05. Gartner has a 12-month low of $84.54 and a 12-month high of $130.02.
In other news, Director Karen E. Dykstra sold 2,500 shares of the stock in a transaction that occurred on Tuesday, June 6th. The shares were sold at an average price of $120.61, for a total value of $301,525.00. Following the transaction, the director now owns 18,223 shares in the company, valued at approximately $2,197,876.03. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Alwyn Dawkins sold 1,400 shares of the stock in a transaction that occurred on Wednesday, May 24th. The stock was 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 approximately $3,375,314.25. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 55,001 shares of company stock worth $6,488,945. Insiders own 4.40% of the company’s stock.
Institutional investors have recently modified their holdings of the company. Toronto Dominion Bank boosted its position in shares of Gartner by 3,288.5% in the second quarter. Toronto Dominion Bank now owns 30,632 shares of the information technology services provider’s stock valued at $3,782,000 after buying an additional 29,728 shares during the period. Advisory Services Network LLC boosted its position in shares of Gartner by 466.7% in the second quarter. Advisory Services Network LLC now owns 969 shares of the information technology services provider’s stock valued at $120,000 after buying an additional 798 shares during the period. WINTON GROUP Ltd acquired a new position in shares of Gartner during the second quarter valued at $1,775,000. Public Employees Retirement System of Ohio boosted its position in shares of Gartner by 1.6% in the second quarter. Public Employees Retirement System of Ohio now owns 110,236 shares of the information technology services provider’s stock valued at $13,615,000 after buying an additional 1,725 shares during the period. Finally, 1st Global Advisors Inc. boosted its position in shares of Gartner by 16.4% in the second quarter. 1st Global Advisors Inc. now owns 2,195 shares of the information technology services provider’s stock valued at $271,000 after buying an additional 310 shares during the period. Hedge funds and other institutional investors own 87.56% of the company’s stock.
A number of research firms recently weighed in on IT. Royal Bank Of Canada reissued a “top pick” rating and set a $142.00 target price (up from $130.00) on shares of Gartner in a research report on Friday, July 21st. Zacks Investment Research upgraded shares of Gartner from a “hold” rating to a “buy” rating and set a $142.00 price target for the company in a research note on Wednesday, July 19th. Credit Suisse Group restated an “outperform” rating and set a $138.00 price target (up previously from $130.00) on shares of Gartner in a research note on Wednesday, August 9th. BidaskClub cut shares of Gartner from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 9th. Finally, TheStreet cut shares of Gartner from a “b” rating to a “c+” rating in a research note on Tuesday, August 8th. Five research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $126.89.
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Gartner Company Profile
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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