Gartner (IT) Posts Quarterly Earnings Results

Gartner (NYSE:IT) released its quarterly earnings data on Tuesday. The information technology services provider reported $0.58 EPS for the quarter, beating the consensus estimate of $0.53 by $0.05, MarketWatch Earnings reports. Gartner had a net margin of 3.08% and a return on equity of 37.74%. The business had revenue of $970.00 million during the quarter, compared to the consensus estimate of $960.72 million. During the same quarter in the prior year, the firm earned $0.72 EPS. The business’s revenue was up .6% on a year-over-year basis. Gartner updated its FY 2019 guidance to $3.82-4.19 EPS and its FY19 guidance to $3.82 to $4.19 EPS.

Shares of NYSE:IT opened at $155.19 on Wednesday. The company has a market cap of $13.91 billion, a PE ratio of 40.95, a P/E/G ratio of 2.84 and a beta of 1.31. Gartner has a one year low of $120.89 and a one year high of $161.85. The company has a debt-to-equity ratio of 2.49, a quick ratio of 0.69 and a current ratio of 0.69.

In other news, EVP Mr Thomas Christopher sold 8,259 shares of the firm’s stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $144.14, for a total transaction of $1,190,452.26. Following the transaction, the executive vice president now directly owns 19,698 shares of the company’s stock, valued at $2,839,269.72. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Craig Safian sold 3,635 shares of the firm’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $140.64, for a total transaction of $511,226.40. Following the transaction, the chief financial officer now directly owns 33,008 shares in the company, valued at $4,642,245.12. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 113,234 shares of company stock worth $16,211,414. Corporate insiders own 4.00% of the company’s stock.

Several large investors have recently modified their holdings of the company. Lunia Capital LP increased its holdings in Gartner by 19,665.1% during the fourth quarter. Lunia Capital LP now owns 16,641,445 shares of the information technology services provider’s stock valued at $16,641,000 after buying an additional 16,557,249 shares during the period. Vanguard Group Inc increased its holdings in Gartner by 0.5% during the third quarter. Vanguard Group Inc now owns 9,199,545 shares of the information technology services provider’s stock valued at $1,458,127,000 after buying an additional 43,975 shares during the period. BlackRock Inc. increased its holdings in Gartner by 5.6% during the fourth quarter. BlackRock Inc. now owns 6,264,009 shares of the information technology services provider’s stock valued at $800,789,000 after buying an additional 331,238 shares during the period. Janus Henderson Group PLC increased its holdings in Gartner by 0.3% during the first quarter. Janus Henderson Group PLC now owns 5,408,961 shares of the information technology services provider’s stock valued at $820,431,000 after buying an additional 15,604 shares during the period. Finally, Geode Capital Management LLC increased its holdings in Gartner by 11.8% during the fourth quarter. Geode Capital Management LLC now owns 1,165,951 shares of the information technology services provider’s stock valued at $148,786,000 after buying an additional 122,793 shares during the period. 99.66% of the stock is currently owned by institutional investors and hedge funds.

Several research analysts have commented on the stock. Cantor Fitzgerald increased their price objective on shares of Gartner from $141.00 to $152.00 and gave the company a “neutral” rating in a report on Wednesday. BMO Capital Markets increased their price target on shares of Gartner from $150.00 to $155.00 and gave the company a “market perform” rating in a report on Wednesday. Morgan Stanley increased their price target on shares of Gartner from $147.00 to $148.00 and gave the company an “equal weight” rating in a report on Wednesday. Zacks Investment Research downgraded shares of Gartner from a “hold” rating to a “sell” rating in a report on Thursday, April 25th. Finally, TheStreet raised shares of Gartner from a “c+” rating to a “b” rating in a report on Tuesday, February 5th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $148.38.

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Gartner Company Profile

Gartner, Inc operates as a research and advisory company. It operates through three segments: Research, Conferences, and Consulting. 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 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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Earnings History for Gartner (NYSE:IT)

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