Gartner (NYSE:IT) Announces Quarterly Earnings Results

Gartner (NYSE:IT) issued its earnings results on Tuesday. The information technology services provider reported $2.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.45 by $0.05, Briefing.com reports. The firm had revenue of $1.48 billion for 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%. The business’s revenue was up 5.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.56 earnings per share. Gartner updated its FY 2024 guidance to 11.750- EPS.

Gartner Stock Performance

Shares of NYSE:IT traded up $3.85 during trading on Thursday, hitting $540.75. The company’s stock had a trading volume of 264,918 shares, compared to its average volume of 368,313. The company has a debt-to-equity ratio of 3.80, a current ratio of 0.90 and a quick ratio of 0.90. The firm has a market cap of $41.67 billion, a price-to-earnings ratio of 51.50, a P/E/G ratio of 3.14 and a beta of 1.32. The company has a 50-day moving average of $511.54 and a 200-day moving average of $473.53. Gartner has a 12 month low of $396.60 and a 12 month high of $542.13.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on IT. Barclays upped their price objective on Gartner from $470.00 to $525.00 and gave the company an “equal weight” 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. 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 report on Wednesday. Morgan Stanley raised their price target on shares of Gartner from $490.00 to $528.00 and gave the company an “equal weight” rating in a report on Thursday, October 10th. Finally, Wells Fargo & Company lifted their price target on shares of Gartner from $460.00 to $470.00 and gave the stock an “underweight” rating in a research note on Wednesday. One 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 stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $539.25.

Insider Activity at Gartner

In other news, EVP Akhil Jain sold 400 shares of the company’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $485.00, for a total value of $194,000.00. Following the completion of the sale, the executive vice president now directly owns 4,839 shares in the company, valued at $2,346,915. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other Gartner news, CFO Craig Safian sold 6,310 shares of Gartner stock in a transaction that occurred 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 $34,596,532.08. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Akhil Jain sold 400 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $485.00, for a total transaction of $194,000.00. Following the completion of the transaction, the executive vice president now owns 4,839 shares of the company’s stock, valued at approximately $2,346,915. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 49,899 shares of company stock worth $24,959,886. 3.60% of the stock is owned by company insiders.

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.