FY2022 EPS Estimates for Gartner, Inc. Boosted by Analyst (NYSE:IT)

Gartner, Inc. (NYSE:ITGet Rating) – Stock analysts at William Blair increased their FY2022 earnings per share (EPS) estimates for shares of Gartner in a research report issued to clients and investors on Tuesday, August 2nd. William Blair analyst A. Nicholas now forecasts that the information technology services provider will earn $8.95 per share for the year, up from their previous forecast of $8.08. The consensus estimate for Gartner’s current full-year earnings is $8.70 per share. William Blair also issued estimates for Gartner’s Q3 2023 earnings at $1.89 EPS and Q4 2023 earnings at $2.46 EPS.

A number of other research firms have also weighed in on IT. BMO Capital Markets reduced their price objective on Gartner from $315.00 to $265.00 and set a “market perform” rating for the company in a research report on Tuesday, June 21st. Barclays lifted their target price on Gartner from $265.00 to $315.00 and gave the stock an “equal weight” rating in a report on Thursday. Morgan Stanley raised their price target on Gartner from $274.00 to $300.00 and gave the stock an “equal weight” rating in a research note on Wednesday. TheStreet downgraded Gartner from a “b” rating to a “c+” rating in a research report on Tuesday, May 3rd. Finally, Robert W. Baird lifted their target price on Gartner from $334.00 to $365.00 in a research report on Wednesday. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $321.67.

Gartner Stock Up 0.7 %

Shares of NYSE:IT opened at $295.44 on Friday. Gartner has a 52-week low of $221.39 and a 52-week high of $368.99. The firm has a market capitalization of $23.79 billion, a P/E ratio of 33.31 and a beta of 1.45. The stock has a 50 day moving average price of $251.55 and a 200-day moving average price of $271.96. The company has a debt-to-equity ratio of 20.79, a quick ratio of 0.70 and a current ratio of 0.62.

Gartner (NYSE:ITGet Rating) last released its quarterly earnings data on Tuesday, August 2nd. The information technology services provider reported $2.85 earnings per share for the quarter, topping the consensus estimate of $2.15 by $0.70. Gartner had a return on equity of 497.67% and a net margin of 14.42%. The business had revenue of $1.38 billion during the quarter, compared to analysts’ expectations of $1.32 billion. During the same quarter last year, the business posted $2.24 EPS. The business’s revenue was up 18.0% on a year-over-year basis.

Gartner declared that its Board of Directors has initiated a share buyback plan on Tuesday, May 3rd that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the information technology services provider to repurchase up to 2.2% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

Insider Transactions at Gartner

In other Gartner news, EVP Alwyn Dawkins sold 500 shares of the business’s stock in a transaction that occurred on Monday, May 23rd. The stock was sold at an average price of $250.82, for a total transaction of $125,410.00. Following the sale, the executive vice president now directly owns 45,596 shares of the company’s stock, valued at $11,436,388.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Anne Sutherland Fuchs sold 224 shares of the company’s stock in a transaction on Tuesday, June 7th. The stock was sold at an average price of $266.71, for a total transaction of $59,743.04. Following the transaction, the director now directly owns 19,455 shares of the company’s stock, valued at $5,188,843.05. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Alwyn Dawkins sold 500 shares of the company’s stock in a transaction on Monday, May 23rd. The shares were sold at an average price of $250.82, for a total value of $125,410.00. Following the completion of the transaction, the executive vice president now directly owns 45,596 shares in the company, valued at $11,436,388.72. The disclosure for this sale can be found here. Over the last three months, insiders have sold 17,951 shares of company stock valued at $5,188,596. 3.70% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Gartner

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. IHT Wealth Management LLC purchased a new stake in Gartner in the fourth quarter valued at approximately $285,000. Unigestion Holding SA purchased a new stake in shares of Gartner in the fourth quarter valued at about $886,000. ProShare Advisors LLC raised its holdings in shares of Gartner by 23.9% in the fourth quarter. ProShare Advisors LLC now owns 27,187 shares of the information technology services provider’s stock valued at $9,089,000 after buying an additional 5,238 shares during the last quarter. Chevy Chase Trust Holdings Inc. raised its holdings in shares of Gartner by 0.3% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 49,566 shares of the information technology services provider’s stock valued at $14,743,000 after buying an additional 124 shares during the last quarter. Finally, Baker Tilly Wealth Management LLC raised its holdings in Gartner by 2.7% during the first quarter. Baker Tilly Wealth Management LLC now owns 9,928 shares of the information technology services provider’s stock worth $2,953,000 after purchasing an additional 263 shares in the last quarter. 92.05% of the stock is owned by institutional investors and hedge funds.

Gartner Company Profile

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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.

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Earnings History and Estimates for Gartner (NYSE:IT)

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