Gartner (NYSE:IT) Updates 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.

Analyst Upgrades and Downgrades

Several research firms have issued reports on IT. Morgan Stanley increased 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. UBS Group raised shares of Gartner from a neutral rating to a buy rating and increased their price objective for the company from $484.00 to $550.00 in a report on Thursday, April 11th. StockNews.com downgraded shares of Gartner from a buy rating to a hold rating in a research note on Saturday, February 10th. Robert W. Baird decreased their price target on shares of Gartner from $536.00 to $517.00 and set an outperform rating on the stock in a research note on Wednesday. Finally, BMO Capital Markets raised their price target on shares of Gartner from $444.00 to $450.00 and gave the stock a market perform rating in a research note on Thursday, February 8th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, Gartner currently has an average rating of Hold and an average target price of $484.17.

Gartner Trading Up 0.9 %

IT stock traded up $3.54 during trading on Wednesday, reaching $416.13. 283,462 shares of the stock were exchanged, compared to its average volume of 399,911. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 3.60. The business has a 50 day moving average price of $464.22 and a 200-day moving average price of $440.03. Gartner has a 1 year low of $295.43 and a 1 year high of $486.54. The firm has a market capitalization of $32.45 billion, a price-to-earnings ratio of 37.66, a P/E/G ratio of 4.12 and a beta of 1.29.

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

Insiders Place Their Bets

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