Gartner (NYSE:IT) Releases FY 2024 Earnings Guidance

Gartner (NYSE:IT) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of 11.750- for the period, compared to the consensus estimate of 11.680. The company issued revenue guidance of $6.2 billion-, compared to the consensus revenue estimate of $6.2 billion.

Gartner Stock Up 0.7 %

Shares of NYSE IT traded up $3.85 during midday trading on Thursday, hitting $540.75. 264,918 shares of the stock traded hands, compared to its average volume of 368,313. The company has a market cap of $41.67 billion, a PE ratio of 51.50, a P/E/G ratio of 3.14 and a beta of 1.32. Gartner has a one year low of $396.60 and a one year high of $542.13. The business has a 50 day moving average price of $511.54 and a two-hundred day moving average price of $473.53. The company has a debt-to-equity ratio of 3.80, a quick ratio of 0.90 and a current ratio of 0.90.

Gartner (NYSE:IT) last released its quarterly earnings data on Tuesday, November 5th. The information technology services provider reported $2.50 EPS for the quarter, beating the consensus estimate of $2.45 by $0.05. The firm had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.48 billion. Gartner had a return on equity of 142.05% and a net margin of 13.67%. The company’s quarterly revenue was up 5.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.56 earnings per share. On average, equities analysts predict that Gartner will post 11.65 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on IT. StockNews.com upgraded Gartner from a “hold” rating to a “buy” rating in a report on Wednesday. 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. Robert W. Baird upped their price target on Gartner from $565.00 to $590.00 and gave the stock an “outperform” rating in a report on Wednesday. UBS Group upped their price target on Gartner from $510.00 to $580.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Finally, Wells Fargo & Company upped their price target on Gartner from $460.00 to $470.00 and gave the stock an “underweight” rating in a report on Wednesday. One investment analyst has rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the company. According to data from MarketBeat, Gartner has a consensus rating of “Hold” and an average target price of $539.25.

Insiders Place Their Bets

In other Gartner news, EVP Akhil Jain sold 400 shares of the business’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 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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 transaction of $194,000.00. Following the transaction, the executive vice president now owns 4,839 shares of the company’s stock, valued at $2,346,915. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Eugene A. Hall sold 34,060 shares of the company’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $505.40, for a total value of $17,213,924.00. Following the transaction, the chief executive officer now directly 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. Over the last quarter, insiders have sold 49,899 shares of company stock valued at $24,959,886. Insiders own 3.60% of the company’s stock.

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.