Gartner (NYSE:IT) Releases Quarterly Earnings Results, Beats Estimates By $0.75 EPS

Gartner (NYSE:IT) released its quarterly earnings results on Tuesday. The information technology services provider reported $3.59 earnings per share for the quarter, beating the consensus estimate of $2.84 by $0.75, Zacks reports. The firm had revenue of $1.50 billion for the quarter, compared to analysts’ expectations of $1.49 billion. Gartner had a return on equity of 525.46% and a net margin of 11.99%.

Gartner Stock Up 2.8%

IT opened at $235.18 on Tuesday. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 46.98. Gartner has a 1-year low of $124.25 and a 1-year high of $256.89. The company has a market capitalization of $14.85 billion, a PE ratio of 21.09, a PEG ratio of 0.82 and a beta of 0.92. The firm’s 50 day simple moving average is $197.04 and its two-hundred day simple moving average is $170.19.

Insider Buying and Selling at Gartner

In other news, EVP Akhil Jain sold 700 shares of the business’s stock in a transaction on Monday, August 24th. The shares were sold at an average price of $201.73, for a total transaction of $141,211.00. Following the completion of the sale, the executive vice president owned 8,130 shares of the company’s stock, valued at $1,640,064.90. The trade was a 7.93% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Anne Fuchs sold 860 shares of the company’s stock in a transaction on Friday, August 7th. The stock was sold at an average price of $184.30, for a total value of $158,498.00. Following the completion of the sale, the director owned 8,097 shares of the company’s stock, valued at $1,492,277.10. This trade represents a 9.60% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 6,043 shares of company stock worth $1,172,858. 2.60% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages recently commented on IT. Wells Fargo & Company lifted their price objective on Gartner from $150.00 to $175.00 and gave the stock an “underweight” rating in a report on Tuesday, October 20th. The Goldman Sachs Group increased their target price on Gartner from $162.00 to $181.00 and gave the company a “neutral” rating in a report on Wednesday, August 5th. BMO Capital Markets raised their target price on Gartner from $206.00 to $212.00 and gave the stock a “market perform” rating in a research report on Tuesday, October 13th. Weiss Ratings downgraded Gartner from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, October 26th. Finally, Zacks Research lowered shares of Gartner from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 5th. One equities research analyst has rated the stock with a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Gartner currently has an average rating of “Reduce” and a consensus price target of $198.50.

Gartner Company Profile

Gartner, Inc is a global research and advisory company that provides information, analysis and guidance to business leaders, technology professionals and public-sector organizations. Its work focuses on helping clients evaluate technology markets, develop business strategies, manage risk and make decisions about digital transformation and other organizational priorities.

The company delivers its services through research and advisory programs, consulting engagements, executive guidance and conferences.