Gartner (NYSE:IT) Posts Quarterly Earnings Results, Beats Expectations By $0.05 EPS

Gartner (NYSE:IT) posted its 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. Gartner had a net margin of 13.67% and a return on equity of 142.05%. The company 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 firm’s revenue was up 5.4% compared to the same quarter last year. Gartner updated its FY 2024 guidance to 11.750- EPS.

Gartner Trading Up 1.1 %

Shares of Gartner stock traded up $6.11 on Friday, hitting $546.86. The stock had a trading volume of 133,267 shares, compared to its average volume of 367,229. The stock’s 50-day simple moving average is $511.54 and its two-hundred day simple moving average is $473.53. Gartner has a one year low of $397.43 and a one year high of $550.41. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 3.80. The stock has a market cap of $42.14 billion, a price-to-earnings ratio of 51.81, a PEG ratio of 3.14 and a beta of 1.32.

Insider Buying and Selling at Gartner

In other news, EVP Akhil Jain sold 400 shares of Gartner stock in a transaction that occurred 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 sale, the executive vice president now directly owns 4,839 shares in the company, valued at approximately $2,346,915. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP Akhil Jain sold 400 shares of Gartner stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $485.00, for a total transaction of $194,000.00. Following the sale, 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 position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Eugene A. Hall sold 34,060 shares of the business’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $505.40, for a total transaction of $17,213,924.00. Following the transaction, the chief executive officer now owns 1,143,401 shares in the company, valued at $577,874,865.40. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 49,899 shares of company stock valued at $24,959,886 in the last quarter. Company insiders own 3.60% of the company’s stock.

Wall Street Analysts Forecast Growth

IT has been the subject of several recent research reports. Deutsche Bank Aktiengesellschaft upped their price target on Gartner from $529.00 to $531.00 and gave the stock a “hold” rating in a report on Wednesday. BMO Capital Markets lifted their price target on Gartner from $450.00 to $510.00 and gave the stock a “market perform” rating in a report on Wednesday, July 31st. Wells Fargo & Company increased their target price on shares of Gartner from $460.00 to $470.00 and gave the company an “underweight” rating in a research report on Wednesday. Bank of America boosted their price target on shares of Gartner from $525.00 to $580.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Finally, Robert W. Baird upped their target price on shares of Gartner from $565.00 to $590.00 and gave the stock an “outperform” rating in a research report on Wednesday. One 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’s stock. According to MarketBeat.com, Gartner has an average rating of “Hold” and an average price target of $539.25.

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.