Gartner (NYSE:IT) Releases FY 2024 Earnings Guidance

Gartner (NYSE:IT) updated its FY 2024 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of 11.750- for the period, compared to the consensus estimate of 11.680. The company issued revenue guidance of $6.2 billion-, compared to the consensus revenue estimate of $6.2 billion.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on IT. UBS Group upped their target price on Gartner from $510.00 to $580.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Deutsche Bank Aktiengesellschaft increased their price objective on Gartner from $529.00 to $531.00 and gave the company a “hold” rating in a research report on Wednesday. Bank of America increased their price objective on Gartner from $525.00 to $580.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. StockNews.com upgraded Gartner from a “hold” rating to a “buy” rating in a research report on Wednesday. Finally, Morgan Stanley increased their price objective on Gartner from $490.00 to $528.00 and gave the company an “equal weight” rating in a research report on Thursday, October 10th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, Gartner has a consensus rating of “Hold” and an average price target of $539.25.

Gartner Trading Up 0.7 %

IT traded up $3.85 on Thursday, hitting $540.75. 264,918 shares of the company were exchanged, compared to its average volume of 368,313. The firm has a fifty day simple moving average of $511.54 and a two-hundred day simple moving average of $473.53. The company has a debt-to-equity ratio of 3.80, a quick ratio of 0.90 and a current ratio of 0.90. Gartner has a 12 month low of $396.60 and a 12 month high of $542.13. The stock 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.

Gartner (NYSE:IT) last issued its quarterly earnings data on Tuesday, November 5th. The information technology services provider reported $2.50 earnings per share for the quarter, topping analysts’ consensus estimates of $2.45 by $0.05. The firm had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.48 billion. Gartner had a return on equity of 142.05% and a net margin of 13.67%. The business’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same period last year, the company earned $2.56 EPS. Sell-side analysts expect that Gartner will post 11.65 earnings per share for the current year.

Insider Transactions at Gartner

In related news, EVP Akhil Jain sold 400 shares of Gartner stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $485.00, for a total transaction of $194,000.00. Following the sale, the executive vice president now directly owns 4,839 shares in the company, valued at $2,346,915. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, EVP Akhil Jain sold 400 shares of Gartner stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $485.00, for a total transaction of $194,000.00. Following the sale, the executive vice president now directly owns 4,839 shares in the company, valued at $2,346,915. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Eugene A. Hall sold 34,060 shares of Gartner stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $505.40, for a total value of $17,213,924.00. Following the sale, the chief executive officer now owns 1,143,401 shares in the company, valued at $577,874,865.40. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 49,899 shares of company stock worth $24,959,886. 3.60% of the stock is currently 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.