Gartner (NYSE:IT) Issues FY 2024 Earnings Guidance

Gartner (NYSE:IT) updated its FY 2024 earnings guidance on Tuesday. The company provided EPS guidance of 10.900- for the period, compared to the consensus EPS estimate of 11.380. The company issued revenue guidance of $6.2 billion-, compared to the consensus revenue estimate of $6.3 billion.

Gartner Stock Performance

NYSE IT opened at $448.65 on Tuesday. The company’s 50 day simple moving average is $464.87 and its two-hundred day simple moving average is $439.64. The stock 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 company has a debt-to-equity ratio of 3.60, a current ratio of 0.91 and a quick ratio of 0.91. Gartner has a 1 year low of $295.43 and a 1 year high of $486.54.

Gartner (NYSE:IT) last issued its quarterly earnings results on Tuesday, February 6th. The information technology services provider reported $3.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.83 by $0.21. Gartner had a return on equity of 156.35% and a net margin of 14.94%. The firm had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.59 billion. During the same quarter last year, the company posted $3.70 EPS. The company’s revenue for the quarter was up 6.3% on a year-over-year basis. Analysts predict that Gartner will post 11.29 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

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

Insider Transactions at Gartner

In other Gartner news, EVP Claire Herkes sold 1,460 shares of the stock in a transaction that occurred on 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 directly owns 2,842 shares in the company, valued at $1,352,109.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, EVP Claire Herkes sold 1,460 shares of the stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $475.76, for a total value of $694,609.60. Following the completion of the sale, the executive vice president now directly owns 2,842 shares of the company’s stock, valued at approximately $1,352,109.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Yvonne Genovese sold 560 shares of Gartner stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $457.37, for a total transaction of $256,127.20. Following the transaction, the executive vice president now directly owns 2,398 shares in the company, valued at approximately $1,096,773.26. The disclosure for this sale can be found here. Insiders have sold a total of 22,952 shares of company stock worth $10,598,070 in the last ninety days. Insiders own 3.60% of the company’s stock.

About Gartner

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.