Gartner (NYSE:IT) Posts Earnings Results, Beats Estimates By $0.40 EPS

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

Gartner Stock Down 0.0 %

IT stock opened at $448.65 on Tuesday. The company’s 50-day moving average price is $464.87 and its 200 day moving average price is $439.64. Gartner has a 52 week low of $295.43 and a 52 week high of $486.54. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 3.60. The company has a market cap of $34.98 billion, a P/E ratio of 40.57, a P/E/G ratio of 4.12 and a beta of 1.29.

Wall Street Analysts Forecast Growth

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

Insider Transactions at Gartner

In other news, EVP Akhil Jain sold 250 shares of Gartner stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $464.55, for a total transaction of $116,137.50. Following the completion of the transaction, the executive vice president now owns 5,239 shares of the company’s stock, valued at approximately $2,433,777.45. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Gartner news, EVP Valentin Sribar sold 682 shares of the firm’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $453.00, for a total transaction of $308,946.00. Following the completion of the transaction, the executive vice president now owns 12,269 shares of the company’s stock, valued at $5,557,857. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Akhil Jain sold 250 shares of the company’s stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $464.55, for a total value of $116,137.50. Following the completion of the sale, the executive vice president now owns 5,239 shares in the company, valued at $2,433,777.45. The disclosure for this sale can be found here. Insiders have sold 22,952 shares of company stock valued at $10,598,070 in the last quarter. 3.60% of the stock is currently owned by corporate insiders.

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.