Gartner (NYSE:IT) Issues Quarterly Earnings Results

Gartner (NYSE:IT) posted its earnings results 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. The business had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.48 billion. Gartner had a return on equity of 142.05% and a net margin of 13.67%. The company’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same quarter last year, the company earned $2.56 EPS. Gartner updated its FY 2024 guidance to 11.750- EPS.

Gartner Price Performance

Shares of IT stock traded up $8.97 on Friday, reaching $549.72. The company’s stock had a trading volume of 152,184 shares, compared to its average volume of 367,305. The company has a market capitalization of $42.36 billion, a price-to-earnings ratio of 40.33, a price-to-earnings-growth ratio of 3.14 and a beta of 1.32. The stock’s fifty day simple moving average is $511.54 and its 200-day simple moving average is $473.53. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 3.80. Gartner has a 1 year low of $397.43 and a 1 year high of $550.41.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. StockNews.com upgraded Gartner from a “hold” rating to a “buy” rating in a report on Wednesday. Barclays raised their target price on shares of Gartner from $470.00 to $525.00 and gave the stock an “equal weight” rating in a report on Wednesday. Bank of America boosted their target price on shares of Gartner from $525.00 to $580.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Robert W. Baird upped their price objective on Gartner from $565.00 to $590.00 and gave the company an “outperform” rating in a research report on Wednesday. Finally, Deutsche Bank Aktiengesellschaft raised their target price on Gartner from $529.00 to $531.00 and gave the stock a “hold” rating in a research report on Wednesday. One analyst has rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $539.25.

Insider Transactions at Gartner

In other Gartner news, CEO Eugene A. Hall sold 34,060 shares of the business’s stock in a transaction that occurred 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 $577,874,865.40. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, CEO Eugene A. Hall sold 34,060 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $505.40, for a total transaction of $17,213,924.00. Following the transaction, the chief executive officer now directly owns 1,143,401 shares of the company’s stock, valued at approximately $577,874,865.40. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Craig Safian sold 6,310 shares of the firm’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $483.57, for a total value of $3,051,326.70. Following the transaction, the chief financial officer now owns 71,544 shares in the company, valued at $34,596,532.08. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 49,899 shares of company stock worth $24,959,886 in the last three months. Insiders own 3.60% of the company’s stock.

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.