Gartner (NYSE:IT) Issues FY 2024 Earnings Guidance

Gartner (NYSE:IT) updated its FY 2024 earnings guidance on Tuesday. The company provided earnings per share guidance of 10.900- for the period, compared to the consensus earnings per share 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 Performance

NYSE:IT opened at $448.65 on Tuesday. The company has a debt-to-equity ratio of 3.60, a current ratio of 0.91 and a quick ratio of 0.91. The firm has a market capitalization of $34.98 billion, a price-to-earnings ratio of 40.57, a PEG ratio of 4.12 and a beta of 1.29. The company’s 50-day moving average is $464.87 and its two-hundred day moving average is $439.64. Gartner has a 1-year low of $295.43 and a 1-year high of $486.54.

Gartner (NYSE:IT) last announced its earnings results on Tuesday, February 6th. The information technology services provider reported $3.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.83 by $0.21. Gartner had a return on equity of 156.35% and a net margin of 14.94%. The company had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.59 billion. During the same quarter in the previous year, the company earned $3.70 earnings per share. The firm’s quarterly revenue was up 6.3% compared to the same quarter last year. Analysts forecast that Gartner will post 11.29 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. Morgan Stanley upped their price objective 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. Deutsche Bank Aktiengesellschaft assumed coverage on Gartner in a research report on Tuesday, April 16th. They issued a hold rating and a $507.00 target price for the company. UBS Group upgraded Gartner from a neutral rating to a buy rating and boosted their price objective for the company from $484.00 to $550.00 in a research note on Thursday, April 11th. BMO Capital Markets raised their price target on Gartner from $444.00 to $450.00 and gave the stock a market perform rating in a report on Thursday, February 8th. Finally, StockNews.com cut shares of Gartner from a buy rating to a hold rating in a research note on Saturday, February 10th. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of Hold and an average price target of $477.60.

Insider Buying and Selling at Gartner

In other news, EVP Claire Herkes sold 1,460 shares of Gartner stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $475.76, for a total transaction of $694,609.60. Following the completion of the sale, the executive vice president now directly 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 is available through this hyperlink. In related news, Director James C. Smith sold 5,000 shares of the business’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $470.09, for a total value of $2,350,450.00. Following the sale, the director now directly owns 618,235 shares in the company, valued at approximately $290,626,091.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Claire Herkes sold 1,460 shares of the firm’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $475.76, for a total transaction of $694,609.60. Following the transaction, the executive vice president now owns 2,842 shares of the company’s stock, valued at $1,352,109.92. The disclosure for this sale can be found here. Over the last quarter, insiders sold 22,952 shares of company stock valued at $10,598,070. 3.60% of the stock is owned by company 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.