Gartner (NYSE:IT) Announces Quarterly Earnings Results

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

Gartner Stock Performance

NYSE IT traded up $23.42 during trading hours on Wednesday, reaching $536.90. 481,803 shares of the company were exchanged, compared to its average volume of 367,724. The stock has a market capitalization of $41.37 billion, a P/E ratio of 50.55, a P/E/G ratio of 3.13 and a beta of 1.32. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 3.80. Gartner has a 1 year low of $392.49 and a 1 year high of $542.13. The business’s 50 day simple moving average is $509.34 and its 200-day simple moving average is $472.61.

Insider Buying and Selling at Gartner

In other news, EVP Claire Herkes sold 478 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $506.01, for a total transaction of $241,872.78. Following the completion of the sale, the executive vice president now owns 1,905 shares in the company, valued at $963,949.05. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, EVP Claire Herkes sold 478 shares of the 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 owns 1,905 shares in the company, valued at approximately $963,949.05. 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. Also, EVP Akhil Jain sold 400 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $485.00, for a total transaction of $194,000.00. Following the completion of the sale, the executive vice president now directly owns 4,839 shares in the company, valued at approximately $2,346,915. This trade represents a 0.00 % decrease in their position. 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 over the last three months. 3.60% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities analysts recently weighed in on IT shares. Robert W. Baird raised their price target on shares of Gartner from $565.00 to $590.00 and gave the company an “outperform” rating in a research report on Wednesday. Morgan Stanley lifted their target price on Gartner from $490.00 to $528.00 and gave the company an “equal weight” rating in a research report on Thursday, October 10th. StockNews.com lowered Gartner from a “buy” rating to a “hold” rating in a research report on Wednesday, July 17th. UBS Group lifted their price objective on shares of Gartner from $510.00 to $580.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Finally, Wells Fargo & Company increased their target price on shares of Gartner from $460.00 to $470.00 and gave the company an “underweight” rating in a report on Wednesday. One analyst has rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $539.25.

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.