Gartner (NYSE:IT) Issues FY 2024 Earnings Guidance

Gartner (NYSE:IT) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of 11.050- for the period, compared to the consensus estimate of 11.630. The company issued revenue guidance of $6.2 billion-, compared to the consensus revenue estimate of $6.2 billion.

Gartner Stock Up 1.2 %

Gartner stock traded up $5.96 during trading hours on Wednesday, hitting $504.73. 320,693 shares of the stock traded hands, compared to its average volume of 406,040. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 3.42. The firm’s 50-day moving average price is $447.16 and its two-hundred day moving average price is $454.38. Gartner has a one year low of $323.61 and a one year high of $508.36. The company has a market cap of $39.18 billion, a PE ratio of 50.23, a PEG ratio of 4.08 and a beta of 1.33.

Gartner (NYSE:IT) last announced its earnings results on Tuesday, July 30th. The information technology services provider reported $3.22 earnings per share for the quarter, beating analysts’ consensus estimates of $3.02 by $0.20. The business had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.58 billion. Gartner had a net margin of 13.35% and a return on equity of 141.55%. The company’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same period in the previous year, the business earned $2.85 EPS. On average, research analysts forecast that Gartner will post 11.63 EPS for the current year.

Wall Street Analysts Forecast Growth

IT has been the subject of several recent research reports. Bank of America lifted their price target on Gartner from $525.00 to $580.00 and gave the stock a buy rating in a research report on Wednesday. Robert W. Baird boosted their price target on Gartner from $517.00 to $565.00 and gave the company an outperform rating in a report on Wednesday. UBS Group boosted their price objective on shares of Gartner from $510.00 to $580.00 and gave the stock a buy rating in a research note on Wednesday. BMO Capital Markets upped their price target on Gartner from $450.00 to $510.00 and gave the stock a market perform rating in a research report on Wednesday. Finally, StockNews.com lowered shares of Gartner from a buy rating to a hold rating in a report on Wednesday, July 17th. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, Gartner has a consensus rating of Moderate Buy and a consensus price target of $521.00.

Insider Buying and Selling

In other Gartner news, EVP Alwyn Dawkins sold 600 shares of Gartner stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $447.63, for a total value of $268,578.00. Following the transaction, the executive vice president now directly owns 51,583 shares in the company, valued at $23,090,098.29. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, EVP Alwyn Dawkins sold 600 shares of the business’s stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $447.63, for a total transaction of $268,578.00. Following the sale, the executive vice president now owns 51,583 shares of the company’s stock, valued at $23,090,098.29. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Anne Sutherland Fuchs sold 705 shares of the company’s stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $428.99, for a total transaction of $302,437.95. Following the completion of the sale, the director now directly owns 8,524 shares in the company, valued at approximately $3,656,710.76. The disclosure for this sale can be found here. Insiders have sold 22,544 shares of company stock worth $10,079,813 in the last ninety days. 3.60% of the stock is owned by corporate insiders.

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.