Gartner (NYSE:IT) Issues Earnings Results

Gartner (NYSE:IT) released its quarterly earnings data on Tuesday. The information technology services provider reported $2.50 EPS for the quarter, topping analysts’ consensus estimates of $2.45 by $0.05, Briefing.com reports. Gartner had a net margin of 13.67% and a return on equity of 142.05%. The firm had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.48 billion. During the same period in the previous year, the business posted $2.56 earnings per share. The company’s revenue for the quarter was up 5.4% compared to the same quarter last year. Gartner updated its FY 2024 guidance to 11.750- EPS.

Gartner Stock Performance

NYSE:IT traded up $19.93 during trading on Wednesday, reaching $533.41. The company’s stock had a trading volume of 277,208 shares, compared to its average volume of 367,655. The firm has a market cap of $41.10 billion, a price-to-earnings ratio of 50.55, a price-to-earnings-growth ratio of 3.13 and a beta of 1.32. The company has a debt-to-equity ratio of 3.80, a quick ratio of 0.90 and a current ratio of 0.90. The firm has a 50 day moving average of $509.34 and a 200-day moving average of $472.61. Gartner has a 12 month low of $392.49 and a 12 month high of $542.13.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on IT. Bank of America lifted their target price on Gartner from $525.00 to $580.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Morgan Stanley lifted their target price on Gartner from $490.00 to $528.00 and gave the stock an “equal weight” rating in a report on Thursday, October 10th. Barclays lifted their target price on Gartner from $470.00 to $525.00 and gave the stock an “equal weight” rating in a report on Wednesday. BMO Capital Markets lifted their target price on Gartner from $450.00 to $510.00 and gave the stock a “market perform” rating in a report on Wednesday, July 31st. Finally, Robert W. Baird boosted their price target on Gartner from $565.00 to $590.00 and gave the company an “outperform” rating in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $539.25.

Insider Buying and Selling at Gartner

In other news, CEO Eugene A. Hall sold 34,060 shares of the stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $505.40, for a total transaction of $17,213,924.00. Following the completion of the transaction, the chief executive officer now owns 1,143,401 shares in the company, valued at approximately $577,874,865.40. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Gartner news, CEO Eugene A. Hall sold 34,060 shares of the stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $505.40, for a total value of $17,213,924.00. Following the sale, the chief executive officer now directly owns 1,143,401 shares in the company, valued at $577,874,865.40. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Claire Herkes sold 478 shares of the company’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $506.01, for a total transaction of $241,872.78. Following the completion of the transaction, the executive vice president now directly owns 1,905 shares in the company, valued at approximately $963,949.05. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 49,899 shares of company stock worth $24,959,886 in the last quarter. 3.60% of the stock is currently owned by company insiders.

Gartner Company Profile

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.