Gartner (NYSE:IT) Announces Earnings Results

by · The Cerbat Gem

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

Gartner Price Performance

IT stock traded up $23.42 during midday trading on Wednesday, reaching $536.90. 481,803 shares of the stock were exchanged, compared to its average volume of 367,724. Gartner has a 52 week low of $392.49 and a 52 week high of $542.13. The company has a fifty day moving average price of $509.34 and a 200 day moving average price of $472.61. 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 stock has a market capitalization of $41.37 billion, a PE ratio of 50.55, a P/E/G ratio of 3.13 and a beta of 1.32.

Analyst Ratings Changes

IT has been the subject of a number of recent analyst reports. UBS Group upped their target price on Gartner from $510.00 to $580.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Gartner from $529.00 to $531.00 and gave the stock a “hold” rating in a research note on Wednesday. Robert W. Baird boosted their target price on shares of Gartner from $565.00 to $590.00 and gave the company an “outperform” rating in a research report on Wednesday. Barclays increased their price target on shares of Gartner from $470.00 to $525.00 and gave the stock an “equal weight” rating in a research report on Wednesday. Finally, Bank of America boosted 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, July 31st. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $539.25.

Get Our Latest Analysis on IT

Insider Buying and Selling at Gartner

In other Gartner news, EVP Claire Herkes sold 478 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $506.01, for a total transaction of $241,872.78. Following the sale, the executive vice president now directly owns 1,905 shares of the company’s stock, valued at $963,949.05. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, CFO Craig Safian sold 6,310 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $483.57, for a total transaction of $3,051,326.70. Following the completion of the sale, the chief financial officer now owns 71,544 shares of the company’s stock, valued at $34,596,532.08. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Claire Herkes sold 478 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $506.01, for a total value of $241,872.78. Following the completion of the transaction, the executive vice president now directly owns 1,905 shares in the company, valued at approximately $963,949.05. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 49,899 shares of company stock worth $24,959,886. 3.60% of the stock is currently owned by insiders.

Gartner Company Profile

(Get Free Report)

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.

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