Gartner (NYSE:IT) Issues Earnings Results

Gartner (NYSE:IT) posted its earnings results on Tuesday. The information technology services provider reported $2.76 EPS for the quarter, topping analysts’ consensus estimates of $2.41 by $0.35, Zacks reports. Gartner had a net margin of 19.71% and a return on equity of 82.63%. The business had revenue of $1.52 billion during the quarter, compared to the consensus estimate of $1.52 billion. Gartner updated its FY 2025 guidance to 12.650- EPS.

Gartner Stock Down 8.5%

IT traded down $20.98 during trading on Tuesday, hitting $224.94. The stock had a trading volume of 942,136 shares, compared to its average volume of 954,324. The company has a market capitalization of $17.04 billion, a PE ratio of 13.82 and a beta of 1.20. Gartner has a twelve month low of $223.23 and a twelve month high of $584.01. The company has a debt-to-equity ratio of 1.61, a quick ratio of 1.11 and a current ratio of 1.11. The stock has a 50 day simple moving average of $249.52 and a two-hundred day simple moving average of $332.73.

Insider Activity at Gartner

In related news, Director Jose M. Gutierrez purchased 417 shares of the firm’s stock in a transaction on Monday, August 18th. The stock was acquired at an average price of $239.80 per share, with a total value of $99,996.60. Following the completion of the acquisition, the director owned 2,080 shares in the company, valued at approximately $498,784. This represents a 25.08% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP John J. Rinello sold 105 shares of the firm’s stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $249.71, for a total transaction of $26,219.55. Following the completion of the transaction, the senior vice president directly owned 3,225 shares of the company’s stock, valued at approximately $805,314.75. This represents a 3.15% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 2.30% of the stock is owned by company insiders.

Institutional Trading of Gartner

Several hedge funds and other institutional investors have recently added to or reduced their stakes in IT. Worldquant Millennium Advisors LLC grew its position in Gartner by 142.5% during the second quarter. Worldquant Millennium Advisors LLC now owns 238,605 shares of the information technology services provider’s stock valued at $96,449,000 after buying an additional 140,228 shares during the period. The Manufacturers Life Insurance Company grew its position in Gartner by 111.5% during the second quarter. The Manufacturers Life Insurance Company now owns 95,301 shares of the information technology services provider’s stock valued at $38,523,000 after buying an additional 50,251 shares during the period. Lazard Asset Management LLC grew its position in Gartner by 147.7% during the second quarter. Lazard Asset Management LLC now owns 25,219 shares of the information technology services provider’s stock valued at $10,193,000 after buying an additional 15,036 shares during the period. Holocene Advisors LP grew its position in Gartner by 97.7% during the second quarter. Holocene Advisors LP now owns 29,764 shares of the information technology services provider’s stock valued at $12,031,000 after buying an additional 14,711 shares during the period. Finally, Treasurer of the State of North Carolina grew its position in Gartner by 34.1% during the second quarter. Treasurer of the State of North Carolina now owns 56,270 shares of the information technology services provider’s stock valued at $22,745,000 after buying an additional 14,294 shares during the period. Institutional investors and hedge funds own 91.51% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on IT shares. UBS Group boosted their price objective on shares of Gartner from $270.00 to $280.00 and gave the company a “neutral” rating in a research report on Monday, October 6th. The Goldman Sachs Group decreased their price target on shares of Gartner from $535.00 to $457.00 and set a “buy” rating on the stock in a research note on Wednesday, August 6th. Truist Financial assumed coverage on shares of Gartner in a report on Thursday, October 16th. They issued a “buy” rating and a $300.00 target price on the stock. Weiss Ratings downgraded shares of Gartner from a “hold (c-)” rating to a “sell (d+)” rating in a report on Saturday, October 25th. Finally, Wolfe Research began coverage on shares of Gartner in a report on Wednesday, September 3rd. They set a “peer perform” rating on the stock. Four research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $346.80.

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.