Gartner (IT) to Release Quarterly Earnings on Tuesday

Gartner (NYSE:IT) is scheduled to post its quarterly earnings results before the market opens on Tuesday, April 30th. Analysts expect Gartner to post earnings of $2.53 per share for the quarter. Gartner has set its FY 2024 guidance at 10.550- EPS.Individual that wish to register for the company’s earnings conference call can do so using this link.

Gartner (NYSE:IT) last released its quarterly earnings data on Tuesday, February 6th. The information technology services provider reported $3.04 earnings per share for the quarter, beating analysts’ consensus estimates of $2.83 by $0.21. Gartner had a return on equity of 156.35% and a net margin of 14.94%. The company had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.59 billion. During the same period in the previous year, the business earned $3.70 earnings per share. The company’s quarterly revenue was up 6.3% on a year-over-year basis. On average, analysts expect Gartner to post $11 EPS for the current fiscal year and $13 EPS for the next fiscal year.

Gartner Stock Performance

NYSE:IT opened at $448.78 on Friday. Gartner has a 1 year low of $293.73 and a 1 year high of $486.54. The firm has a 50 day moving average of $464.87 and a 200-day moving average of $437.88. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 3.60. The stock has a market capitalization of $34.99 billion, a P/E ratio of 40.58, a price-to-earnings-growth ratio of 4.10 and a beta of 1.29.

Insiders Place Their Bets

In other Gartner news, EVP Claire Herkes sold 1,460 shares of Gartner stock in a transaction 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 owns 2,842 shares of the company’s stock, valued at approximately $1,352,109.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Gartner news, EVP Claire Herkes sold 1,460 shares of Gartner stock in a transaction 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 owns 2,842 shares of the company’s stock, valued at approximately $1,352,109.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director James C. Smith sold 5,000 shares of the business’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $470.09, for a total transaction of $2,350,450.00. Following the completion of the transaction, the director now directly owns 618,235 shares of the company’s stock, valued at approximately $290,626,091.15. The disclosure for this sale can be found here. In the last 90 days, insiders sold 22,952 shares of company stock valued at $10,598,070. Company insiders own 3.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on IT shares. Morgan Stanley lifted their target price on shares of Gartner from $421.00 to $446.00 and gave the company an “equal weight” rating in a research note on Tuesday, February 6th. UBS Group upgraded shares of Gartner from a “neutral” rating to a “buy” rating and lifted their target price for the company from $484.00 to $550.00 in a research note on Thursday, April 11th. BMO Capital Markets lifted their target price on shares of Gartner from $444.00 to $450.00 and gave the company a “market perform” rating in a research note on Thursday, February 8th. StockNews.com cut shares of Gartner from a “buy” rating to a “hold” rating in a research note on Saturday, February 10th. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of Gartner in a research report on Tuesday, April 16th. They issued a “hold” rating and a $507.00 price objective for the company. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, Gartner has an average rating of “Hold” and a consensus target price of $477.60.

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.