Gartner (NYSE:IT) Issues Earnings Results

Gartner (NYSE:IT) posted its quarterly earnings results on Tuesday. The information technology services provider reported $2.76 EPS for the quarter, beating the consensus estimate of $2.41 by $0.35, Zacks reports. The business had revenue of $1.52 billion during the quarter, compared to analysts’ expectations of $1.52 billion. Gartner had a return on equity of 82.63% and a net margin of 19.71%. Gartner updated its FY 2025 guidance to 12.650- EPS.

Gartner Trading Down 8.4%

Gartner stock traded down $20.54 during midday trading on Tuesday, reaching $225.38. The stock had a trading volume of 889,147 shares, compared to its average volume of 954,324. Gartner has a twelve month low of $223.23 and a twelve month high of $584.01. The stock has a market capitalization of $17.07 billion, a PE ratio of 13.87 and a beta of 1.20. The company has a debt-to-equity ratio of 1.61, a quick ratio of 1.11 and a current ratio of 1.11. The stock’s 50-day simple moving average is $249.52 and its 200 day simple moving average is $332.73.

Insiders Place Their Bets

In other news, Director Jose M. Gutierrez bought 417 shares of Gartner stock in a transaction that occurred on Monday, August 18th. The shares were purchased at an average price of $239.80 per share, for a total transaction of $99,996.60. Following the completion of the acquisition, the director owned 2,080 shares of the company’s stock, valued at $498,784. The trade was a 25.08% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP John J. Rinello sold 105 shares of the business’s stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $249.71, for a total value of $26,219.55. Following the transaction, the senior vice president owned 3,225 shares in the company, valued at approximately $805,314.75. This represents a 3.15% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 2.30% of the stock is currently owned by company insiders.

Institutional Trading of Gartner

A number of hedge funds and other institutional investors have recently modified their holdings of IT. Osterweis Capital Management Inc. bought a new stake in Gartner in the second quarter valued at about $48,000. MUFG Securities EMEA plc bought a new stake in Gartner in the second quarter valued at about $91,000. State of Wyoming bought a new stake in Gartner in the second quarter valued at about $231,000. Florida Financial Advisors LLC increased its holdings in Gartner by 19.4% in the second quarter. Florida Financial Advisors LLC now owns 573 shares of the information technology services provider’s stock valued at $232,000 after buying an additional 93 shares during the last quarter. Finally, Brighton Jones LLC bought a new stake in Gartner in the fourth quarter valued at about $309,000. 91.51% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have recently commented on IT. UBS Group raised their price target on Gartner from $270.00 to $280.00 and gave the company a “neutral” rating in a report on Monday, October 6th. Truist Financial began coverage on Gartner in a report on Thursday, October 16th. They issued a “buy” rating and a $300.00 price target for the company. Wolfe Research began coverage on Gartner in a report on Wednesday, September 3rd. They issued a “peer perform” rating for the company. Morgan Stanley set a $307.00 price target on Gartner in a report on Monday, October 13th. Finally, BMO Capital Markets reduced their price target on Gartner from $409.00 to $272.00 and set a “market perform” rating for the company in a report on Wednesday, August 6th. Four equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $346.80.

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.