Gartner (NYSE:IT) Issues FY 2024 Earnings Guidance

Gartner (NYSE:IT) updated its FY 2024 earnings guidance on Tuesday. 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.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Deutsche Bank Aktiengesellschaft began coverage on Gartner in a report on Tuesday, April 16th. They set a hold rating and a $507.00 price target 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 report on Tuesday, February 6th. StockNews.com lowered Gartner from a buy rating to a hold rating in a research report on Saturday, February 10th. BMO Capital Markets upped their price target on Gartner from $444.00 to $450.00 and gave the stock a market perform rating in a research note on Thursday, February 8th. Finally, UBS Group raised Gartner from a neutral rating to a buy rating and raised their price objective for the company from $484.00 to $550.00 in a research note on Thursday, April 11th. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, Gartner has a consensus rating of Hold and an average target price of $477.60.

Gartner Stock Down 5.6 %

Shares of NYSE:IT traded down $24.93 during mid-day trading on Tuesday, hitting $423.72. 610,754 shares of the company traded hands, compared to its average volume of 392,247. The stock has a market cap of $33.04 billion, a P/E ratio of 38.08, a P/E/G ratio of 4.12 and a beta of 1.29. The stock has a 50-day moving average price of $464.87 and a two-hundred day moving average price of $439.64. Gartner has a 12-month low of $295.43 and a 12-month high of $486.54. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 3.60.

Gartner (NYSE:IT) last posted its earnings results on Tuesday, April 30th. The information technology services provider reported $2.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.53 by $0.40. Gartner had a net margin of 14.94% and a return on equity of 156.35%. The firm had revenue of $1.47 billion during the quarter, compared to analyst estimates of $1.47 billion. During the same quarter in the prior year, the business posted $2.88 EPS. The business’s revenue was up 4.5% compared to the same quarter last year. On average, equities research analysts forecast that Gartner will post 11.29 earnings per share for the current year.

Insider Buying and Selling at Gartner

In related news, Director James C. Smith sold 10,000 shares of the stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $459.68, for a total transaction of $4,596,800.00. Following the completion of the sale, the director now directly owns 623,235 shares of the company’s stock, valued at $286,488,664.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director James C. Smith sold 10,000 shares of the business’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $459.68, for a total value of $4,596,800.00. Following the transaction, the director now directly owns 623,235 shares of the company’s stock, valued at approximately $286,488,664.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Valentin Sribar sold 682 shares of the firm’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $453.00, for a total transaction of $308,946.00. Following the sale, the executive vice president now owns 12,269 shares of the company’s stock, valued at approximately $5,557,857. The disclosure for this sale can be found here. In the last 90 days, insiders sold 22,952 shares of company stock worth $10,598,070. Insiders own 3.60% of the company’s stock.

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.