Gartner, Inc. to Post FY2024 Earnings of $10.07 Per Share, Jefferies Financial Group Forecasts (NYSE:IT)

Gartner, Inc. (NYSE:ITGet Rating) – Stock analysts at Jefferies Financial Group raised their FY2024 earnings per share estimates for shares of Gartner in a research report issued on Thursday, May 19th. Jefferies Financial Group analyst H. Mazari now forecasts that the information technology services provider will earn $10.07 per share for the year, up from their prior estimate of $9.45.

Several other brokerages have also recently weighed in on IT. Morgan Stanley reduced their price objective on Gartner from $357.00 to $339.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 9th. StockNews.com began coverage on shares of Gartner in a report on Thursday, March 31st. They issued a “buy” rating for the company. TheStreet downgraded shares of Gartner from a “b” rating to a “c+” rating in a report on Tuesday, May 3rd. Finally, Bank of America raised shares of Gartner from a “neutral” rating to a “buy” rating and set a $340.00 price target on the stock in a report on Thursday, April 14th. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, Gartner currently has an average rating of “Buy” and an average target price of $346.50.

Gartner stock opened at $250.04 on Monday. The company has a market cap of $20.14 billion, a price-to-earnings ratio of 26.40 and a beta of 1.50. The firm’s fifty day moving average is $284.24 and its 200 day moving average is $297.29. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 20.79. Gartner has a 52-week low of $228.20 and a 52-week high of $368.99.

Gartner (NYSE:ITGet Rating) last announced its quarterly earnings results on Tuesday, May 3rd. The information technology services provider reported $2.33 EPS for the quarter, beating analysts’ consensus estimates of $1.89 by $0.44. The company had revenue of $1.26 billion during the quarter, compared to analyst estimates of $1.24 billion. Gartner had a return on equity of 239.82% and a net margin of 16.39%. The firm’s revenue was up 14.4% on a year-over-year basis. During the same period in the prior year, the company earned $2.00 earnings per share.

Gartner announced that its board has authorized a share repurchase program on Tuesday, February 8th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the information technology services provider to buy up to 2% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its shares are undervalued.

In related news, Director Eileen Serra acquired 700 shares of the stock in a transaction that occurred on Friday, May 6th. The stock was purchased at an average price of $251.99 per share, with a total value of $176,393.00. Following the transaction, the director now owns 700 shares of the company’s stock, valued at approximately $176,393. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Alwyn Dawkins sold 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 1st. The shares were sold at an average price of $273.41, for a total value of $273,410.00. The disclosure for this sale can be found here. 3.60% of the stock is owned by insiders.

A number of institutional investors have recently added to or reduced their stakes in IT. Clearstead Advisors LLC acquired a new position in Gartner during the 1st quarter worth approximately $27,000. Jacobi Capital Management LLC lifted its holdings in Gartner by 553.3% during the 3rd quarter. Jacobi Capital Management LLC now owns 98 shares of the information technology services provider’s stock worth $30,000 after buying an additional 83 shares during the last quarter. Cambridge Trust Co. purchased a new stake in Gartner during the 1st quarter worth about $31,000. Amplius Wealth Advisors LLC purchased a new stake in Gartner during the 4th quarter worth about $37,000. Finally, BerganKDV Wealth Management LLC lifted its holdings in Gartner by 1,350.0% during the 3rd quarter. BerganKDV Wealth Management LLC now owns 116 shares of the information technology services provider’s stock worth $35,000 after buying an additional 108 shares during the last quarter. Institutional investors own 92.05% of the company’s stock.

About Gartner (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.

Further Reading

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.