Gartner (NYSE:IT) Updates FY 2024 Earnings Guidance

Gartner (NYSE:IT) issued an update on its FY 2024 earnings guidance on Tuesday morning. 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 Up 2.3 %

NYSE IT traded up $9.60 during trading hours on Friday, hitting $428.64. 478,615 shares of the company were exchanged, compared to its average volume of 411,033. The company has a 50 day moving average of $462.52 and a two-hundred day moving average of $440.27. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 3.42. The firm has a market cap of $33.42 billion, a price-to-earnings ratio of 42.65, a PEG ratio of 3.72 and a beta of 1.32. Gartner has a 52-week low of $295.43 and a 52-week high of $486.54.

Gartner (NYSE:IT) last released its earnings results on Tuesday, April 30th. The information technology services provider reported $2.93 earnings per share for the quarter, topping analysts’ consensus estimates of $2.53 by $0.40. Gartner had a net margin of 13.35% and a return on equity of 141.55%. The firm had revenue of $1.47 billion for the quarter, compared to analyst estimates of $1.47 billion. During the same period in the prior year, the firm earned $2.88 earnings per share. The business’s quarterly revenue was up 4.5% compared to the same quarter last year. Equities research analysts anticipate that Gartner will post 11.56 earnings per share for the current year.

Analyst Upgrades and Downgrades

IT has been the subject of a number of analyst reports. BMO Capital Markets lowered their target price on shares of Gartner from $450.00 to $432.00 and set a market perform rating for the company in a research note on Thursday. StockNews.com raised Gartner from a hold rating to a buy rating in a research report on Thursday. Robert W. Baird cut their target price on Gartner from $536.00 to $517.00 and set an outperform rating on the stock in a research report on Wednesday. Deutsche Bank Aktiengesellschaft assumed coverage on Gartner in a report on Tuesday, April 16th. They issued a hold rating and a $507.00 price target for the company. Finally, Morgan Stanley increased their price target on shares of Gartner from $421.00 to $446.00 and gave the company an equal weight rating in a research note on Tuesday, February 6th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of Moderate Buy and a consensus price target of $474.50.

Insiders Place Their Bets

In related news, EVP Claire Herkes sold 1,460 shares of the company’s stock in a transaction 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 owns 2,842 shares in the company, valued at approximately $1,352,109.92. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Gartner news, EVP Valentin Sribar sold 682 shares of Gartner stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $453.00, for a total value of $308,946.00. Following the transaction, the executive vice president now directly owns 12,269 shares in the company, valued at approximately $5,557,857. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Claire Herkes sold 1,460 shares of the business’s 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 transaction, the executive vice president now directly owns 2,842 shares in the company, valued at approximately $1,352,109.92. The disclosure for this sale can be found here. Insiders have sold a total of 22,952 shares of company stock valued at $10,598,070 over the last quarter. Company insiders own 3.60% of the company’s stock.

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.