William Blair Weighs in on Gartner, Inc.’s Q1 2023 Earnings (NYSE:IT)

Gartner, Inc. (NYSE:ITGet Rating) – Analysts at William Blair raised their Q1 2023 earnings per share (EPS) estimates for Gartner in a research report issued to clients and investors on Tuesday, May 3rd. William Blair analyst A. Nicholas now forecasts that the information technology services provider will post earnings per share of $1.84 for the quarter, up from their previous forecast of $1.69. William Blair also issued estimates for Gartner’s Q2 2023 earnings at $2.31 EPS, Q3 2023 earnings at $2.01 EPS, Q4 2023 earnings at $2.48 EPS and FY2023 earnings at $8.63 EPS.

Gartner (NYSE:ITGet Rating) last issued its quarterly earnings results on Tuesday, May 3rd. The information technology services provider reported $2.33 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.89 by $0.44. Gartner had a return on equity of 149.70% and a net margin of 16.76%. The business had revenue of $1.26 billion during the quarter, compared to the consensus estimate of $1.24 billion. During the same period in the previous year, the business earned $2.00 EPS. The business’s quarterly revenue was up 14.4% on a year-over-year basis.

A number of other research analysts also recently commented on the company. StockNews.com started coverage on Gartner in a research note on Thursday, March 31st. They set a “buy” rating for the company. TheStreet downgraded Gartner from a “b” rating to a “c+” rating in a research note on Tuesday. Bank of America upgraded Gartner from a “neutral” rating to a “buy” rating and set a $340.00 price objective for the company in a research note on Thursday, April 14th. Finally, Morgan Stanley lowered their price objective on Gartner from $357.00 to $339.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 9th. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, Gartner has an average rating of “Buy” and a consensus price target of $346.50.

Shares of NYSE IT opened at $280.06 on Thursday. Gartner has a twelve month low of $220.75 and a twelve month high of $368.99. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 6.62. The company has a market capitalization of $23.05 billion, a price-to-earnings ratio of 29.57 and a beta of 1.50. The business has a 50 day simple moving average of $290.79 and a 200-day simple moving average of $303.97.

Several large investors have recently added to or reduced their stakes in the company. BlackRock Inc. lifted its holdings in shares of Gartner by 10.9% in the fourth quarter. BlackRock Inc. now owns 6,273,247 shares of the information technology services provider’s stock valued at $2,097,273,000 after buying an additional 615,832 shares during the period. EP Wealth Advisors LLC lifted its holdings in shares of Gartner by 371,624.8% in the third quarter. EP Wealth Advisors LLC now owns 4,668,863 shares of the information technology services provider’s stock valued at $366,000 after buying an additional 4,667,607 shares during the period. State Street Corp lifted its holdings in shares of Gartner by 2.1% in the fourth quarter. State Street Corp now owns 3,273,310 shares of the information technology services provider’s stock valued at $1,094,333,000 after buying an additional 68,873 shares during the period. Wellington Management Group LLP lifted its holdings in shares of Gartner by 13,031.3% in the third quarter. Wellington Management Group LLP now owns 1,635,242 shares of the information technology services provider’s stock valued at $496,917,000 after buying an additional 1,622,789 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in shares of Gartner by 9.3% in the third quarter. Geode Capital Management LLC now owns 1,597,113 shares of the information technology services provider’s stock valued at $484,100,000 after buying an additional 136,099 shares during the period. 92.05% of the stock is owned by institutional investors.

In other news, EVP Alwyn Dawkins sold 1,000 shares of the stock in a transaction on Tuesday, March 1st. The stock was sold at an average price of $273.41, for a total value of $273,410.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 3.60% of the company’s stock.

Gartner announced that its Board of Directors has authorized a stock buyback plan on Tuesday, February 8th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the information technology services provider to reacquire up to 2% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

Gartner Company Profile (Get Rating)

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.

Read More

Earnings History and Estimates for Gartner (NYSE:IT)

Receive News & Ratings for Gartner Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Gartner and related companies with MarketBeat.com's FREE daily email newsletter.