Q3 2024 EPS Estimates for Gartner, Inc. (NYSE:IT) Lowered by William Blair

Gartner, Inc. (NYSE:IT) – Analysts at William Blair dropped their Q3 2024 earnings per share (EPS) estimates for shares of Gartner in a research note issued to investors on Tuesday, July 30th. William Blair analyst A. Nicholas now expects that the information technology services provider will earn $2.22 per share for the quarter, down from their previous forecast of $2.51. The consensus estimate for Gartner’s current full-year earnings is $11.58 per share. William Blair also issued estimates for Gartner’s FY2024 earnings at $11.31 EPS and Q3 2025 earnings at $2.66 EPS.

IT has been the topic of a number of other reports. BMO Capital Markets boosted their target price on Gartner from $450.00 to $510.00 and gave the stock a “market perform” rating in a research report on Wednesday. Morgan Stanley upped their price objective on Gartner from $440.00 to $470.00 and gave the stock an “equal weight” rating in a report on Thursday, July 11th. Deutsche Bank Aktiengesellschaft assumed coverage on Gartner in a research report on Tuesday, April 16th. They set a “hold” rating and a $507.00 target price for the company. UBS Group boosted their price target on shares of Gartner from $510.00 to $580.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, Bank of America increased their price objective on shares of Gartner from $525.00 to $580.00 and gave the company a “buy” rating in a research report on Wednesday. Four analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $521.00.

Gartner Stock Down 2.8 %

Shares of IT stock opened at $479.29 on Friday. The company’s fifty day simple moving average is $449.91 and its two-hundred day simple moving average is $455.15. Gartner has a 52 week low of $323.61 and a 52 week high of $509.15. The stock has a market cap of $37.21 billion, a P/E ratio of 47.69, a PEG ratio of 3.80 and a beta of 1.33. The company has a quick ratio of 0.91, a current ratio of 0.90 and a debt-to-equity ratio of 3.80.

Gartner (NYSE:IT) last released its earnings results on Tuesday, July 30th. The information technology services provider reported $3.22 EPS for the quarter, topping the consensus estimate of $3.02 by $0.20. The firm had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.58 billion. Gartner had a net margin of 13.67% and a return on equity of 142.05%. The company’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.85 earnings per share.

Insider Buying and Selling

In related news, EVP Alwyn Dawkins sold 600 shares of Gartner stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $447.63, for a total transaction of $268,578.00. Following the completion of the transaction, the executive vice president now directly owns 51,583 shares of the company’s stock, valued at approximately $23,090,098.29. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other Gartner news, Director Anne Sutherland Fuchs sold 500 shares of the company’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $505.28, for a total value of $252,640.00. Following the transaction, the director now owns 8,059 shares of the company’s stock, valued at approximately $4,072,051.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Alwyn Dawkins sold 600 shares of Gartner stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $447.63, for a total value of $268,578.00. Following the sale, the executive vice president now owns 51,583 shares of the company’s stock, valued at $23,090,098.29. The disclosure for this sale can be found here. Insiders sold a total of 36,126 shares of company stock worth $16,937,420 over the last three months. 3.60% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Kornitzer Capital Management Inc. KS increased its holdings in Gartner by 40.7% during the 2nd quarter. Kornitzer Capital Management Inc. KS now owns 34,606 shares of the information technology services provider’s stock worth $15,540,000 after purchasing an additional 10,015 shares during the period. National Bank of Canada FI grew its position in shares of Gartner by 105.0% during the 2nd quarter. National Bank of Canada FI now owns 39,246 shares of the information technology services provider’s stock worth $17,319,000 after buying an additional 20,101 shares in the last quarter. TD Asset Management Inc raised its holdings in shares of Gartner by 4.1% in the second quarter. TD Asset Management Inc now owns 61,929 shares of the information technology services provider’s stock valued at $27,810,000 after acquiring an additional 2,447 shares in the last quarter. Strategy Asset Managers LLC purchased a new stake in Gartner in the second quarter worth about $1,314,000. Finally, Weaver Capital Management LLC purchased a new stake in Gartner in the second quarter worth about $299,000. Hedge funds and other institutional investors own 91.51% of the company’s stock.

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.