William Blair Weighs in on Gartner, Inc.’s Q2 2024 Earnings (NYSE:IT)

Gartner, Inc. (NYSE:ITFree Report) – Equities researchers at William Blair lowered their Q2 2024 EPS estimates for Gartner in a research note issued to investors on Tuesday, February 6th. William Blair analyst A. Nicholas now forecasts that the information technology services provider will earn $2.87 per share for the quarter, down from their prior estimate of $3.32. The consensus estimate for Gartner’s current full-year earnings is $11.92 per share. William Blair also issued estimates for Gartner’s Q3 2024 earnings at $2.49 EPS, Q4 2024 earnings at $3.04 EPS, FY2024 earnings at $10.77 EPS and FY2025 earnings at $12.36 EPS.

Other research analysts have also issued research reports about the stock. Wells Fargo & Company increased their price target on shares of Gartner from $380.00 to $435.00 and gave the stock an “overweight” rating in a research note on Friday, December 15th. UBS Group boosted their price target on Gartner from $412.00 to $490.00 and gave the stock a “neutral” rating in a research report on Tuesday. StockNews.com raised Gartner from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. BMO Capital Markets upped their target price on Gartner from $444.00 to $450.00 and gave the stock a “market perform” rating in a research report on Thursday. Finally, Morgan Stanley lifted their price target on shares of Gartner from $421.00 to $446.00 and gave the company an “equal weight” rating in a research report on Tuesday. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $455.25.

Check Out Our Latest Analysis on IT

Gartner Price Performance

Shares of IT opened at $456.18 on Friday. The company has a debt-to-equity ratio of 4.32, a quick ratio of 0.86 and a current ratio of 0.86. The firm has a market cap of $35.56 billion, a PE ratio of 41.25, a PEG ratio of 3.60 and a beta of 1.30. The firm’s 50 day moving average price is $451.30 and its 200 day moving average price is $392.46. Gartner has a twelve month low of $292.60 and a twelve month high of $471.76.

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

Gartner declared that its Board of Directors has authorized a stock repurchase program on Friday, November 3rd that allows the company to buyback $500.00 million in shares. This buyback authorization allows the information technology services provider to purchase up to 1.6% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s leadership believes its shares are undervalued.

Insider Activity at Gartner

In related news, Director James C. Smith sold 5,000 shares of the stock in a transaction dated Monday, November 13th. The shares were sold at an average price of $411.90, for a total value of $2,059,500.00. Following the completion of the sale, the director now owns 659,689 shares in the company, valued at $271,725,899.10. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Gartner news, CFO Craig Safian sold 4,387 shares of the company’s stock in a transaction that occurred on Wednesday, December 13th. The shares were sold at an average price of $467.37, for a total value of $2,050,352.19. Following the completion of the sale, the chief financial officer now owns 64,307 shares of the company’s stock, valued at $30,055,162.59. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director James C. Smith sold 5,000 shares of Gartner stock in a transaction on Monday, November 13th. The stock was sold at an average price of $411.90, for a total transaction of $2,059,500.00. Following the transaction, the director now directly owns 659,689 shares in the company, valued at $271,725,899.10. The disclosure for this sale can be found here. Insiders sold a total of 19,369 shares of company stock worth $8,383,821 in the last 90 days. 3.90% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the stock. US Bancorp DE lifted its position in Gartner by 6.0% in the 1st quarter. US Bancorp DE now owns 2,563 shares of the information technology services provider’s stock valued at $762,000 after acquiring an additional 144 shares in the last quarter. Aviva PLC lifted its holdings in shares of Gartner by 53.3% in the first quarter. Aviva PLC now owns 42,028 shares of the information technology services provider’s stock valued at $12,502,000 after purchasing an additional 14,618 shares in the last quarter. Canada Pension Plan Investment Board boosted its position in shares of Gartner by 9.5% during the first quarter. Canada Pension Plan Investment Board now owns 27,043 shares of the information technology services provider’s stock worth $8,044,000 after buying an additional 2,347 shares during the period. Allianz Asset Management GmbH grew its holdings in shares of Gartner by 25.2% during the first quarter. Allianz Asset Management GmbH now owns 98,889 shares of the information technology services provider’s stock worth $29,415,000 after buying an additional 19,892 shares in the last quarter. Finally, Vanguard Group Inc. raised its position in Gartner by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 9,198,161 shares of the information technology services provider’s stock valued at $2,736,085,000 after buying an additional 102,709 shares during the last quarter. Institutional investors own 90.28% of the company’s stock.

Gartner Company Profile

(Get Free Report)

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)

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