William Blair Comments on Gartner, Inc.’s Q1 2024 Earnings (NYSE:IT)

Gartner, Inc. (NYSE:ITFree Report) – Equities researchers at William Blair lifted their Q1 2024 earnings per share (EPS) estimates for Gartner in a note issued to investors on Tuesday, February 6th. William Blair analyst A. Nicholas now forecasts that the information technology services provider will earn $2.36 per share for the quarter, up from their prior estimate of $2.34. The consensus estimate for Gartner’s current full-year earnings is $10.55 per share. William Blair also issued estimates for Gartner’s Q1 2025 earnings at $2.69 EPS, Q2 2025 earnings at $3.29 EPS, Q3 2025 earnings at $2.87 EPS and Q4 2025 earnings at $3.50 EPS.

Gartner (NYSE:ITGet Free Report) last released its quarterly earnings results on Tuesday, February 6th. The information technology services provider reported $3.04 EPS for the quarter, topping the consensus estimate of $2.83 by $0.21. Gartner had a return on equity of 166.35% and a net margin of 14.94%. The business had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.59 billion. During the same period last year, the business posted $3.70 earnings per share. The company’s quarterly revenue was up 6.3% on a year-over-year basis.

Other research analysts have also issued reports about the company. StockNews.com upgraded Gartner from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. Wells Fargo & Company lifted their target price on Gartner from $380.00 to $435.00 and gave the company an “overweight” rating in a report on Friday, December 15th. Morgan Stanley lifted their target price on Gartner from $421.00 to $446.00 and gave the company an “equal weight” rating in a report on Tuesday. Finally, UBS Group lifted their target price on Gartner from $412.00 to $490.00 and gave the company a “neutral” rating in a report on Tuesday. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $429.25.

Read Our Latest Research Report on Gartner

Gartner Trading Down 2.5 %

IT opened at $449.95 on Thursday. Gartner has a 52 week low of $292.60 and a 52 week high of $471.76. The business has a fifty day simple moving average of $450.87 and a 200-day simple moving average of $392.02. The firm has a market cap of $35.07 billion, a P/E ratio of 40.68, a P/E/G ratio of 4.18 and a beta of 1.30. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 4.32.

Gartner announced that its Board of Directors has approved a stock buyback program on Friday, November 3rd that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the information technology services provider to buy up to 1.6% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling at Gartner

In other news, EVP Valentin Sribar sold 675 shares of Gartner stock in a transaction dated Monday, December 11th. The stock was sold at an average price of $459.06, for a total transaction of $309,865.50. Following the sale, the executive vice president now owns 11,003 shares in the company, valued at $5,051,037.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP Valentin Sribar sold 675 shares of the business’s stock in a transaction dated Monday, December 11th. The stock was sold at an average price of $459.06, for a total value of $309,865.50. Following the transaction, the executive vice president now owns 11,003 shares in the company, valued at approximately $5,051,037.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Akhil Jain sold 250 shares of the business’s stock in a transaction dated Monday, November 20th. The shares were sold at an average price of $420.47, for a total value of $105,117.50. Following the completion of the transaction, the executive vice president now owns 3,061 shares in the company, valued at approximately $1,287,058.67. The disclosure for this sale can be found here. Insiders have sold a total of 25,254 shares of company stock worth $10,784,371 over the last ninety days. Corporate insiders own 3.90% of the company’s stock.

Institutional Investors Weigh In On Gartner

A number of institutional investors have recently added to or reduced their stakes in the business. Checchi Capital Advisers LLC boosted its holdings in Gartner by 34.7% in the 4th quarter. Checchi Capital Advisers LLC now owns 1,507 shares of the information technology services provider’s stock valued at $680,000 after purchasing an additional 388 shares in the last quarter. Ieq Capital LLC boosted its stake in shares of Gartner by 10.9% during the 4th quarter. Ieq Capital LLC now owns 3,920 shares of the information technology services provider’s stock worth $1,768,000 after acquiring an additional 384 shares in the last quarter. Envestnet Portfolio Solutions Inc. boosted its stake in shares of Gartner by 10.9% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 8,678 shares of the information technology services provider’s stock worth $3,915,000 after acquiring an additional 854 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Gartner by 5.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 515,655 shares of the information technology services provider’s stock worth $232,621,000 after acquiring an additional 24,762 shares in the last quarter. Finally, QRG Capital Management Inc. boosted its stake in shares of Gartner by 169.9% during the 4th quarter. QRG Capital Management Inc. now owns 2,186 shares of the information technology services provider’s stock worth $986,000 after acquiring an additional 1,376 shares in the last quarter. Hedge funds and other institutional investors own 90.28% of the company’s stock.

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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