Gartner (NYSE:IT) Issues FY 2024 Earnings Guidance

Gartner (NYSE:IT) updated its FY 2024 earnings guidance on Tuesday. The company provided earnings per share guidance of 10.900- for the period, compared to the consensus earnings per share estimate of 11.380. The company issued revenue guidance of $6.2 billion-, compared to the consensus revenue estimate of $6.3 billion.

Gartner Stock Performance

Shares of IT traded up $9.60 during trading hours on Friday, hitting $428.64. The stock had a trading volume of 478,615 shares, compared to its average volume of 411,033. The firm has a market capitalization of $33.42 billion, a PE ratio of 42.65, a PEG ratio of 3.72 and a beta of 1.32. The company has a debt-to-equity ratio of 3.42, a current ratio of 0.91 and a quick ratio of 0.91. Gartner has a 12 month low of $295.43 and a 12 month high of $486.54. The stock has a fifty day moving average price of $462.52 and a 200 day moving average price of $440.27.

Gartner (NYSE:IT) last posted its quarterly earnings data on Tuesday, April 30th. The information technology services provider reported $2.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.53 by $0.40. Gartner had a net margin of 13.35% and a return on equity of 141.55%. The company had revenue of $1.47 billion for the quarter, compared to the consensus estimate of $1.47 billion. During the same quarter last year, the firm posted $2.88 earnings per share. The firm’s revenue was up 4.5% compared to the same quarter last year. Analysts anticipate that Gartner will post 11.56 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. StockNews.com upgraded Gartner from a hold rating to a buy rating in a research note on Thursday. Morgan Stanley lifted their target price on Gartner from $421.00 to $446.00 and gave the company an equal weight rating in a research note on Tuesday, February 6th. BMO Capital Markets dropped their price target on Gartner from $450.00 to $432.00 and set a market perform rating for the company in a research note on Thursday. Deutsche Bank Aktiengesellschaft began coverage on shares of Gartner in a research report on Tuesday, April 16th. They set a hold rating and a $507.00 price objective on the stock. Finally, UBS Group dropped their target price on shares of Gartner from $550.00 to $510.00 and set a buy rating for the company in a research report on Wednesday. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, Gartner has a consensus rating of Moderate Buy and a consensus price target of $474.50.

Insider Buying and Selling at Gartner

In related news, EVP Valentin Sribar sold 682 shares of the business’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $453.00, for a total transaction of $308,946.00. Following the completion of the transaction, the executive vice president now owns 12,269 shares in the company, valued at approximately $5,557,857. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Gartner news, EVP Valentin Sribar sold 682 shares of the business’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $453.00, for a total value of $308,946.00. Following the completion of the sale, the executive vice president now directly owns 12,269 shares of the company’s stock, valued at approximately $5,557,857. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Akhil Jain sold 250 shares of the company’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $464.55, for a total transaction of $116,137.50. Following the completion of the transaction, the executive vice president now owns 5,239 shares in the company, valued at $2,433,777.45. The disclosure for this sale can be found here. Insiders sold 22,952 shares of company stock worth $10,598,070 over the last 90 days. Company insiders own 3.60% of the company’s stock.

About Gartner

Gartner, Inc operates as a research and advisory company in the United States, Canada, Europe, the Middle East, Africa, and internationally. It operates through three segments: Research, Conferences, and Consulting. The Research segment delivers its research primarily through a subscription service that include on-demand access to published research content, data and benchmarks, and direct access to a network of research experts.