Gartner (NYSE:IT) Announces Quarterly Earnings Results, Beats Estimates By $0.05 EPS

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

Gartner Stock Performance

NYSE IT traded up $8.97 on Friday, hitting $549.72. 152,184 shares of the stock traded hands, compared to its average volume of 367,305. The firm has a market capitalization of $42.36 billion, a price-to-earnings ratio of 40.33, a PEG ratio of 3.14 and a beta of 1.32. The business’s fifty day moving average is $511.54 and its two-hundred day moving average is $473.53. The company has a debt-to-equity ratio of 3.80, a quick ratio of 0.90 and a current ratio of 0.90. Gartner has a 12 month low of $397.43 and a 12 month high of $550.41.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Morgan Stanley increased their target price on shares of Gartner from $490.00 to $528.00 and gave the stock an “equal weight” rating in a report on Thursday, October 10th. Deutsche Bank Aktiengesellschaft boosted their price target on Gartner from $529.00 to $531.00 and gave the stock a “hold” rating in a research report on Wednesday. StockNews.com raised Gartner from a “hold” rating to a “buy” rating in a research report on Wednesday. Barclays increased their price target on Gartner from $470.00 to $525.00 and gave the company an “equal weight” rating in a research note on Wednesday. Finally, Robert W. Baird increased their price target on shares of Gartner from $565.00 to $590.00 and gave the company an “outperform” rating in a report on Wednesday. One research analyst has rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, Gartner currently has a consensus rating of “Hold” and a consensus target price of $539.25.

Insiders Place Their Bets

In other news, CFO Craig Safian sold 6,310 shares of the stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $483.57, for a total value of $3,051,326.70. Following the transaction, the chief financial officer now owns 71,544 shares of the company’s stock, valued at $34,596,532.08. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, CFO Craig Safian sold 6,310 shares of the stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $483.57, for a total transaction of $3,051,326.70. Following the transaction, the chief financial officer now owns 71,544 shares of the company’s stock, valued at approximately $34,596,532.08. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Yvonne Genovese sold 443 shares of the firm’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $483.62, for a total value of $214,243.66. Following the transaction, the executive vice president now directly owns 1,959 shares in the company, valued at $947,411.58. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 49,899 shares of company stock worth $24,959,886 over the last quarter. 3.60% of the stock is currently owned by company insiders.

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.