Gartner (NYSE:IT) Announces Quarterly Earnings Results

Gartner (NYSE:IT) announced its quarterly earnings results on Tuesday. The information technology services provider reported $2.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.45 by $0.05, Briefing.com reports. The business had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.48 billion. Gartner had a return on equity of 142.05% and a net margin of 13.67%. The firm’s revenue was up 5.4% on a year-over-year basis. During the same period in the previous year, the company earned $2.56 EPS. Gartner updated its FY 2024 guidance to 11.750- EPS.

Gartner Trading Up 0.7 %

Shares of NYSE IT traded up $3.50 during midday trading on Thursday, hitting $540.40. The stock had a trading volume of 64,338 shares, compared to its average volume of 367,371. The company’s 50-day simple moving average is $510.44 and its 200 day simple moving average is $473.06. Gartner has a fifty-two week low of $396.60 and a fifty-two week high of $542.13. The firm has a market cap of $41.64 billion, a P/E ratio of 51.13, a price-to-earnings-growth ratio of 3.14 and a beta of 1.32. The company has a debt-to-equity ratio of 3.80, a current ratio of 0.90 and a quick ratio of 0.90.

Insiders Place Their Bets

In other news, CEO Eugene A. Hall sold 34,060 shares of Gartner stock in a transaction on 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 directly owns 1,143,401 shares of the company’s stock, valued at $577,874,865.40. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, EVP Claire Herkes sold 478 shares of Gartner stock in a transaction 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 completion of the transaction, the executive vice president now owns 1,905 shares of the company’s stock, valued at $963,949.05. This trade represents a 0.00 % decrease in their ownership of the stock. 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 stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $505.40, for a total value of $17,213,924.00. Following the sale, the chief executive officer now owns 1,143,401 shares of the company’s stock, valued at approximately $577,874,865.40. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 49,899 shares of company stock valued at $24,959,886. Company insiders own 3.60% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on IT shares. Robert W. Baird increased 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. Barclays boosted their target price on shares of Gartner from $470.00 to $525.00 and gave the stock an “equal weight” rating in a research report on Wednesday. Morgan Stanley increased 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. StockNews.com upgraded shares of Gartner from a “hold” rating to a “buy” rating in a report on Wednesday. Finally, Deutsche Bank Aktiengesellschaft increased their target price on shares of Gartner from $529.00 to $531.00 and gave the company a “hold” rating in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus 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.