Gartner (NYSE:IT) Posts Earnings Results, Beats Estimates By $0.40 EPS

Gartner (NYSE:IT) released its earnings results on Tuesday. The information technology services provider reported $2.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.53 by $0.40, RTT News reports. Gartner had a return on equity of 147.74% and a net margin of 13.35%. The firm had revenue of $1.47 billion during the quarter, compared to analysts’ expectations of $1.47 billion. During the same quarter last year, the business posted $2.88 earnings per share. The firm’s revenue was up 4.5% on a year-over-year basis. Gartner updated its FY 2024 guidance to 10.900- EPS.

Gartner Trading Down 0.7 %

NYSE IT traded down $2.79 during trading hours on Thursday, hitting $419.60. 23,774 shares of the company’s stock were exchanged, compared to its average volume of 403,071. The company has a debt-to-equity ratio of 3.60, a quick ratio of 0.91 and a current ratio of 0.91. The firm has a market capitalization of $32.72 billion, a P/E ratio of 42.03, a price-to-earnings-growth ratio of 3.59 and a beta of 1.32. Gartner has a 12-month low of $295.43 and a 12-month high of $486.54. The business’s 50 day moving average is $463.85 and its 200-day moving average is $439.90.

Insider Activity at Gartner

In other news, EVP Valentin Sribar sold 682 shares of the stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $453.00, for a total value of $308,946.00. Following the completion of the sale, the executive vice president now owns 12,269 shares in the company, valued at $5,557,857. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other Gartner news, EVP Valentin Sribar sold 682 shares of the company’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $453.00, for a total value of $308,946.00. Following the transaction, the executive vice president now directly owns 12,269 shares of the company’s stock, valued at approximately $5,557,857. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Yvonne Genovese sold 560 shares of the firm’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $457.37, for a total transaction of $256,127.20. Following the transaction, the executive vice president now directly owns 2,398 shares of the company’s stock, valued at $1,096,773.26. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 22,952 shares of company stock worth $10,598,070. 3.60% of the stock is owned by insiders.

Analysts Set New Price Targets

IT has been the subject of a number of analyst reports. Robert W. Baird lowered their price target on Gartner from $536.00 to $517.00 and set an “outperform” rating for the company in a research report on Wednesday. UBS Group dropped their target price on Gartner from $550.00 to $510.00 and set a “buy” rating on the stock in a research report on Wednesday. BMO Capital Markets raised their target price on shares of Gartner from $444.00 to $450.00 and gave the company a “market perform” rating in a research note on Thursday, February 8th. Deutsche Bank Aktiengesellschaft began coverage on Gartner in a research note on Tuesday, April 16th. They set a “hold” rating and a $507.00 price target on the stock. Finally, Morgan Stanley upped their target price on Gartner from $421.00 to $446.00 and gave the company an “equal weight” rating in a research report on Tuesday, February 6th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $477.50.

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.