Gartner (NYSE:IT) Announces Quarterly Earnings Results, Beats Expectations By $2.23 EPS

Gartner (NYSE:IT) issued its quarterly earnings data on Tuesday. The information technology services provider reported $5.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.22 by $2.23, Zacks reports. Gartner had a net margin of 17.33% and a return on equity of 118.27%.

Gartner Stock Performance

Gartner stock opened at $548.26 on Tuesday. The company has a debt-to-equity ratio of 2.31, a current ratio of 1.02 and a quick ratio of 1.02. Gartner has a 12 month low of $411.15 and a 12 month high of $559.00. The company has a market cap of $42.29 billion, a price-to-earnings ratio of 40.43, a price-to-earnings-growth ratio of 3.37 and a beta of 1.34. The stock’s 50-day moving average is $508.50 and its 200-day moving average is $504.99.

Insider Activity

In related news, EVP William James Wartinbee III sold 189 shares of the business’s stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $523.54, for a total transaction of $98,949.06. Following the completion of the transaction, the executive vice president now owns 7,311 shares in the company, valued at $3,827,600.94. The trade was a 2.52 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director James C. Smith sold 17,533 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $547.09, for a total value of $9,592,128.97. Following the transaction, the director now owns 532,294 shares of the company’s stock, valued at $291,212,724.46. This represents a 3.19 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 35,583 shares of company stock worth $19,241,974. 3.60% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on IT shares. Barclays raised Gartner from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $525.00 to $600.00 in a research report on Friday, January 10th. StockNews.com downgraded Gartner from a “buy” rating to a “hold” rating in a research report on Tuesday. Robert W. Baird boosted their target price on Gartner from $565.00 to $590.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 6th. Morgan Stanley decreased their target price on Gartner from $564.00 to $555.00 and set an “equal weight” rating for the company in a research note on Thursday, January 16th. Finally, Wells Fargo & Company decreased their target price on Gartner from $470.00 to $460.00 and set an “underweight” rating for the company in a research note on Friday, January 10th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $550.75.

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.