Gartner, Inc. (NYSE:IT) Updates FY17 Earnings Guidance

Gartner, Inc. (NYSE:IT) updated its FY17 earnings guidance on Tuesday. The company provided EPS guidance of $3.32-3.49 for the period, compared to the Thomson Reuters consensus EPS estimate of $3.48.

A number of equities analysts recently commented on the stock. BidaskClub cut shares of Gartner from a strong-buy rating to a buy rating in a research note on Wednesday, August 9th. Zacks Investment Research lowered shares of Gartner from a buy rating to a hold rating in a report on Friday, August 11th. TheStreet lowered shares of Gartner from a b rating to a c+ rating in a report on Tuesday, August 8th. Credit Suisse Group reiterated an outperform rating and set a $138.00 price objective (up previously from $130.00) on shares of Gartner in a report on Wednesday, August 9th. 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. Five investment analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of Buy and a consensus price target of $126.89.

Gartner, Inc. (NYSE:IT) traded down 0.67% during midday trading on Friday, hitting $119.51. 746,181 shares of the stock traded hands. Gartner, Inc. has a 12-month low of $84.54 and a 12-month high of $130.02. The firm has a market cap of $10.83 billion, a P/E ratio of 245.40 and a beta of 1.05. The company’s 50-day moving average is $124.87 and its 200 day moving average is $114.75.

Gartner (NYSE:IT) last issued its earnings results on Tuesday, August 8th. The information technology services provider reported $0.88 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.83 by $0.05. The firm had revenue of $843.73 million for the quarter, compared to analysts’ expectations of $892.64 million. Gartner had a net margin of 1.50% and a return on equity of 103.10%. The firm’s revenue was up 38.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.75 earnings per share. On average, analysts anticipate that Gartner, Inc. will post $3.41 EPS for the current fiscal year.

In other Gartner news, CEO Eugene A. Hall sold 38,800 shares of the firm’s stock in a transaction that occurred on Tuesday, May 30th. The shares were sold at an average price of $117.86, for a total transaction of $4,572,968.00. Following the sale, the chief executive officer now owns 1,304,375 shares of the company’s stock, valued at $153,733,637.50. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Alwyn Dawkins sold 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 25th. The stock was sold at an average price of $117.86, for a total transaction of $117,860.00. Following the sale, the senior vice president now directly owns 28,085 shares in the company, valued at approximately $3,310,098.10. The disclosure for this sale can be found here. In the last three months, insiders have sold 55,001 shares of company stock worth $6,488,945. 4.40% of the stock is owned by corporate insiders.

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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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