Gartner (NYSE:IT) Issues 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 Down 5.6 %

NYSE IT traded down $24.93 during trading on Tuesday, hitting $423.72. The company’s stock had a trading volume of 610,754 shares, compared to its average volume of 392,247. 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 company has a market cap of $33.04 billion, a PE ratio of 38.08, a P/E/G ratio of 4.12 and a beta of 1.29. The business’s 50 day simple moving average is $464.87 and its 200-day simple moving average is $439.64. Gartner has a fifty-two week low of $295.43 and a fifty-two week high of $486.54.

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

Analysts Set New Price Targets

Several research analysts have recently issued reports on IT shares. Morgan Stanley raised their price objective on Gartner from $421.00 to $446.00 and gave the stock an equal weight rating in a research note on Tuesday, February 6th. BMO Capital Markets raised their price objective on Gartner from $444.00 to $450.00 and gave the stock a market perform rating in a research note on Thursday, February 8th. Deutsche Bank Aktiengesellschaft started coverage on Gartner in a research note on Tuesday, April 16th. They issued a hold rating and a $507.00 price objective for the company. StockNews.com cut Gartner from a buy rating to a hold rating in a research note on Saturday, February 10th. Finally, UBS Group upgraded Gartner from a neutral rating to a buy rating and raised their price objective for the stock 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 given a buy rating to the company. Based on data from MarketBeat.com, Gartner has a consensus rating of Hold and an average target price of $477.60.

Insider Activity at Gartner

In related 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 transaction of $308,946.00. Following the completion of the transaction, the executive vice president now directly owns 12,269 shares in the company, valued at $5,557,857. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, Director James C. Smith sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $455.00, for a total value of $2,275,000.00. Following the completion of the sale, the director now directly owns 638,235 shares in the company, valued at $290,396,925. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 completion of the sale, the executive vice president now owns 12,269 shares of the company’s stock, valued at $5,557,857. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 22,952 shares of company stock worth $10,598,070. 3.60% of the stock is owned by corporate 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.