Gartner (NYSE:IT) Releases Quarterly Earnings Results

Gartner (NYSE:IT) announced its earnings results on Tuesday. The information technology services provider reported $3.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.02 by $0.20, Briefing.com reports. Gartner had a return on equity of 141.59% and a net margin of 13.67%. The business had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.58 billion. During the same quarter in the previous year, the business earned $2.85 earnings per share. The company’s revenue for the quarter was up 6.1% compared to the same quarter last year. Gartner updated its FY 2024 guidance to 11.050- EPS.

Gartner Stock Performance

NYSE:IT traded down $17.42 during mid-day trading on Friday, hitting $475.85. The company’s stock had a trading volume of 168,127 shares, compared to its average volume of 407,304. Gartner has a 1 year low of $323.61 and a 1 year high of $509.15. The company has a debt-to-equity ratio of 3.42, a current ratio of 0.91 and a quick ratio of 0.91. The stock has a market cap of $36.94 billion, a price-to-earnings ratio of 49.08, a PEG ratio of 4.32 and a beta of 1.33. The business’s fifty day moving average is $449.11 and its two-hundred day moving average is $454.97.

Insider Buying and Selling at Gartner

In other Gartner news, EVP Yvonne Genovese sold 439 shares of the company’s stock in a transaction on Monday, May 20th. The shares were sold at an average price of $456.13, for a total value of $200,241.07. Following the sale, the executive vice president now directly owns 1,959 shares of the company’s stock, valued at $893,558.67. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, Director Anne Sutherland Fuchs sold 705 shares of the 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 sale, the director now directly owns 8,524 shares of the company’s stock, valued at approximately $3,656,710.76. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Yvonne Genovese sold 439 shares of the stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $456.13, for a total transaction of $200,241.07. Following the sale, the executive vice president now directly owns 1,959 shares in the company, valued at $893,558.67. The disclosure for this sale can be found here. Over the last three months, insiders have sold 22,544 shares of company stock valued at $10,079,813. 3.60% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. StockNews.com lowered Gartner from a “buy” rating to a “hold” rating in a report on Wednesday, July 17th. Deutsche Bank Aktiengesellschaft began coverage on shares of Gartner in a research note on Tuesday, April 16th. They issued a “hold” rating and a $507.00 price objective for the company. BMO Capital Markets boosted their price objective on shares of Gartner from $450.00 to $510.00 and gave the stock a “market perform” rating in a research note 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. Finally, Robert W. Baird upped their price target on Gartner from $517.00 to $565.00 and gave the stock an “outperform” rating in a research report on Wednesday. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, Gartner has an average rating of “Moderate Buy” and an average target price of $521.00.

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.