Gartner (NYSE:IT) Announces Quarterly Earnings Results, Beats Estimates By $0.05 EPS

Gartner (NYSE:IT) released its quarterly earnings data on Tuesday. The information technology services provider reported $2.50 earnings per share for the quarter, beating analysts’ consensus estimates 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 net margin of 13.67% and a return on equity of 142.05%. Gartner’s revenue was up 5.4% compared to the same quarter last year. During the same period in the previous year, the business earned $2.56 EPS. Gartner updated its FY 2024 guidance to 11.750- EPS.

Gartner Trading Up 0.7 %

Shares of IT stock traded up $3.85 during mid-day trading on Thursday, reaching $540.75. The stock had a trading volume of 264,918 shares, compared to its average volume of 368,313. The firm has a market capitalization of $41.67 billion, a PE ratio of 51.50, a price-to-earnings-growth ratio of 3.14 and a beta of 1.32. The stock’s 50-day moving average price is $511.54 and its two-hundred day moving average price is $473.53. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 3.80. Gartner has a 52-week low of $396.60 and a 52-week high of $542.13.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on IT shares. Morgan Stanley boosted their price objective on shares of Gartner from $490.00 to $528.00 and gave the company an “equal weight” rating in a research note on Thursday, October 10th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Gartner from $529.00 to $531.00 and gave the stock a “hold” rating in a report on Wednesday. Robert W. Baird lifted their price objective on Gartner from $565.00 to $590.00 and gave the company an “outperform” rating in a research note on Wednesday. Bank of America raised their price target on Gartner from $525.00 to $580.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Finally, StockNews.com raised Gartner from a “hold” rating to a “buy” rating in a report on Wednesday. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $539.25.

Insider Buying and Selling

In other news, CEO Eugene A. Hall sold 34,060 shares of the business’s stock in a transaction that occurred on Thursday, September 12th. The stock was 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 approximately $577,874,865.40. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, 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. The trade was 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 through this hyperlink. Also, EVP Akhil Jain sold 400 shares of the stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $485.00, for a total transaction of $194,000.00. Following the completion of the transaction, the executive vice president now directly 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 disclosure for this sale can be found here. Insiders have sold 49,899 shares of company stock valued at $24,959,886 over the last ninety days. 3.60% of the stock is owned by 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.