Gartner (NYSE:IT) Releases FY 2022 Earnings Guidance

Gartner (NYSE:ITGet Rating) updated its FY 2022 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of $8.85- for the period, compared to the consensus estimate of $8.06. The company issued revenue guidance of $5.35B-, compared to the consensus revenue estimate of $5.31 billion.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on IT. BMO Capital Markets cut their price objective on shares of Gartner from $315.00 to $265.00 and set a market perform rating on the stock in a research report on Tuesday, June 21st. Barclays raised their price target on shares of Gartner from $265.00 to $315.00 and gave the company an equal weight rating in a research report on Thursday. TheStreet cut shares of Gartner from a b rating to a c+ rating in a research report on Tuesday, May 3rd. Robert W. Baird raised their price target on shares of Gartner from $334.00 to $365.00 in a research report on Wednesday. Finally, Wells Fargo & Company raised their price target on shares of Gartner from $305.00 to $345.00 and gave the company an overweight rating in a research report on Wednesday. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, Gartner currently has a consensus rating of Moderate Buy and a consensus price target of $321.67.

Gartner Stock Up 0.7 %

NYSE:IT traded up $2.17 on Friday, hitting $295.44. The stock had a trading volume of 281,241 shares, compared to its average volume of 530,180. The company has a debt-to-equity ratio of 20.79, a quick ratio of 0.70 and a current ratio of 0.62. The stock has a market cap of $23.79 billion, a P/E ratio of 33.31 and a beta of 1.45. Gartner has a 1 year low of $221.39 and a 1 year high of $368.99. The firm’s fifty day simple moving average is $250.98 and its two-hundred day simple moving average is $271.83.

Gartner (NYSE:ITGet Rating) last posted its quarterly earnings data on Tuesday, August 2nd. The information technology services provider reported $2.85 EPS for the quarter, beating the consensus estimate of $2.15 by $0.70. The firm had revenue of $1.38 billion during the quarter, compared to analyst estimates of $1.32 billion. Gartner had a net margin of 14.42% and a return on equity of 497.67%. The company’s revenue for the quarter was up 18.0% on a year-over-year basis. During the same quarter last year, the business posted $2.24 EPS. Analysts predict that Gartner will post 8.7 earnings per share for the current year.

Gartner announced that its Board of Directors has initiated a stock buyback program on Tuesday, May 3rd that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the information technology services provider to buy up to 2.2% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

Insider Transactions at Gartner

In other news, EVP Alwyn Dawkins sold 500 shares of the firm’s stock in a transaction that occurred on Monday, May 23rd. The shares were sold at an average price of $250.82, for a total transaction of $125,410.00. Following the completion of the sale, the executive vice president now owns 45,596 shares in the company, valued at approximately $11,436,388.72. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, Director Anne Sutherland Fuchs sold 224 shares of Gartner stock in a transaction that occurred on Tuesday, June 7th. The shares were sold at an average price of $266.71, for a total value of $59,743.04. Following the completion of the transaction, the director now directly owns 19,455 shares in the company, valued at approximately $5,188,843.05. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Alwyn Dawkins sold 500 shares of the firm’s stock in a transaction on Monday, May 23rd. The shares were sold at an average price of $250.82, for a total transaction of $125,410.00. Following the completion of the transaction, the executive vice president now directly owns 45,596 shares of the company’s stock, valued at $11,436,388.72. The disclosure for this sale can be found here. Insiders sold a total of 17,951 shares of company stock worth $5,188,596 in the last quarter. Insiders own 3.70% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Neuberger Berman Group LLC boosted its holdings in Gartner by 18.7% in the 1st quarter. Neuberger Berman Group LLC now owns 10,336 shares of the information technology services provider’s stock valued at $3,091,000 after purchasing an additional 1,625 shares during the period. Toroso Investments LLC lifted its holdings in shares of Gartner by 11.9% during the 1st quarter. Toroso Investments LLC now owns 3,470 shares of the information technology services provider’s stock worth $1,032,000 after acquiring an additional 369 shares during the last quarter. BNP Paribas Arbitrage SA lifted its holdings in shares of Gartner by 29.9% during the 1st quarter. BNP Paribas Arbitrage SA now owns 28,690 shares of the information technology services provider’s stock worth $8,534,000 after acquiring an additional 6,603 shares during the last quarter. Wealthfront Advisers LLC lifted its holdings in shares of Gartner by 15.3% during the 1st quarter. Wealthfront Advisers LLC now owns 6,268 shares of the information technology services provider’s stock worth $1,865,000 after acquiring an additional 831 shares during the last quarter. Finally, KB Financial Partners LLC bought a new stake in shares of Gartner during the 1st quarter worth $68,000. 92.05% of the stock is owned by institutional investors.

Gartner Company Profile

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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.

Further Reading

Earnings History and Estimates for Gartner (NYSE:IT)

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