Gartner (NYSE:IT) Releases Earnings Results

Gartner (NYSE:IT) issued its quarterly earnings data on Tuesday. The information technology services provider reported $2.93 EPS for the quarter, beating the consensus estimate of $2.53 by $0.40, RTT News reports. The firm had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $1.47 billion. Gartner had a net margin of 14.94% and a return on equity of 156.35%. The company’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.88 earnings per share. Gartner updated its FY 2024 guidance to 10.900- EPS.

Gartner Trading Down 0.0 %

NYSE IT opened at $448.65 on Tuesday. The firm has a market capitalization of $34.98 billion, a PE ratio of 40.57, a P/E/G ratio of 4.12 and a beta of 1.29. The stock’s 50 day moving average is $464.87 and its 200 day moving average is $439.64. Gartner has a twelve month low of $295.43 and a twelve month high of $486.54. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 3.60.

Insiders Place Their Bets

In other news, EVP Valentin Sribar sold 682 shares of the business’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $453.00, for a total transaction of $308,946.00. Following the sale, the executive vice president now owns 12,269 shares in the company, valued at approximately $5,557,857. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, EVP Claire Herkes sold 1,460 shares of the company’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $475.76, for a total value of $694,609.60. Following the transaction, the executive vice president now owns 2,842 shares in the company, valued at approximately $1,352,109.92. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Valentin Sribar sold 682 shares of the stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $453.00, for a total transaction of $308,946.00. Following the sale, the executive vice president now directly owns 12,269 shares in the company, valued at $5,557,857. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 22,952 shares of company stock worth $10,598,070. 3.60% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Deutsche Bank Aktiengesellschaft started coverage on Gartner in a research report on Tuesday, April 16th. They set a “hold” rating and a $507.00 price target for the company. Morgan Stanley upped their target price on Gartner from $421.00 to $446.00 and gave the company an “equal weight” rating in a report on Tuesday, February 6th. StockNews.com lowered Gartner from a “buy” rating to a “hold” rating in a research note on Saturday, February 10th. UBS Group raised shares of Gartner from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $484.00 to $550.00 in a research report on Thursday, April 11th. Finally, BMO Capital Markets raised their target price on shares of Gartner from $444.00 to $450.00 and gave the stock a “market perform” rating in a research report on Thursday, February 8th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $477.60.

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.