Gartner (NYSE:IT) Releases 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.

Wall Street Analysts Forecast Growth

IT has been the topic of several recent research reports. BMO Capital Markets cut their price target on Gartner from $450.00 to $432.00 and set a market perform rating on the stock in a report on Thursday. Deutsche Bank Aktiengesellschaft began coverage on Gartner in a report on Tuesday, April 16th. They set a hold rating and a $507.00 target price on the stock. StockNews.com cut Gartner from a buy rating to a hold rating in a research report on Saturday, February 10th. Robert W. Baird lowered their price objective on Gartner from $536.00 to $517.00 and set an outperform rating on the stock in a research report on Wednesday. Finally, UBS Group lowered their price objective on Gartner from $550.00 to $510.00 and set a buy rating on the stock in a research report on Wednesday. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, Gartner currently has a consensus rating of Hold and an average price target of $474.50.

Gartner Stock Performance

Shares of IT traded down $2.44 during trading hours on Thursday, reaching $419.95. 223,958 shares of the company traded hands, compared to its average volume of 405,438. Gartner has a 12-month low of $295.43 and a 12-month high of $486.54. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 3.60. The stock has a market capitalization of $32.74 billion, a P/E ratio of 41.95, a P/E/G ratio of 3.59 and a beta of 1.32. The business has a fifty day moving average price of $463.85 and a 200-day moving average price of $439.90.

Gartner (NYSE:IT) last issued its quarterly earnings data on Tuesday, April 30th. The information technology services provider reported $2.93 earnings per share for the quarter, topping analysts’ consensus estimates 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 net margin of 13.35% and a return on equity of 147.74%. The company’s revenue was up 4.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.88 earnings per share. Equities analysts anticipate that Gartner will post 11.73 EPS for the current fiscal year.

Insider Buying and Selling

In other Gartner news, EVP Claire Herkes sold 1,460 shares of the stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $475.76, for a total value of $694,609.60. Following the completion of the sale, the executive vice president now 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 can be accessed through this hyperlink. In other news, EVP Akhil Jain sold 250 shares of the stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $464.55, for a total value of $116,137.50. Following the completion of the sale, the executive vice president now owns 5,239 shares of the company’s stock, valued at approximately $2,433,777.45. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Claire Herkes sold 1,460 shares of the 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 of the company’s stock, valued at approximately $1,352,109.92. The disclosure for this sale can be found here. Insiders sold a total of 22,952 shares of company stock worth $10,598,070 in the last 90 days. 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.