Gartner, Inc. Expected to Earn Q2 2024 Earnings of $3.01 Per Share (NYSE:IT)

Gartner, Inc. (NYSE:IT) – Equities researchers at William Blair increased their Q2 2024 earnings per share (EPS) estimates for shares of Gartner in a note issued to investors on Wednesday, May 1st. William Blair analyst A. Nicholas now anticipates that the information technology services provider will earn $3.01 per share for the quarter, up from their previous estimate of $2.87. The consensus estimate for Gartner’s current full-year earnings is $11.55 per share. William Blair also issued estimates for Gartner’s Q3 2024 earnings at $2.51 EPS and FY2024 earnings at $11.48 EPS.

Gartner (NYSE:IT) last announced its quarterly earnings results on Tuesday, April 30th. The information technology services provider reported $2.93 earnings per share for the quarter, beating analysts’ consensus estimates of $2.53 by $0.40. The firm had revenue of $1.47 billion for the quarter, compared to analysts’ expectations of $1.47 billion. Gartner had a return on equity of 141.55% and a net margin of 13.35%. The business’s revenue was up 4.5% compared to the same quarter last year. During the same period in the prior year, the business posted $2.88 earnings per share.

Several other analysts have also recently commented on the company. StockNews.com upgraded Gartner from a “hold” rating to a “buy” rating in a report on Thursday. BMO Capital Markets decreased their price objective on Gartner from $450.00 to $432.00 and set a “market perform” rating on the stock in a research report on Thursday. Robert W. Baird dropped their target price on Gartner from $536.00 to $517.00 and set an “outperform” rating for the company in a research report on Wednesday. Deutsche Bank Aktiengesellschaft started coverage on Gartner in a report on Tuesday, April 16th. They issued a “hold” rating and a $507.00 price target on the stock. Finally, Morgan Stanley boosted their price objective on Gartner from $421.00 to $446.00 and gave the stock an “equal weight” rating in a report on Tuesday, February 6th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $474.50.

Gartner Price Performance

Shares of Gartner stock opened at $428.64 on Friday. The stock has a market capitalization of $33.42 billion, a price-to-earnings ratio of 42.65, a P/E/G ratio of 3.36 and a beta of 1.32. Gartner has a 1-year low of $295.43 and a 1-year high of $486.54. The firm’s 50-day moving average price is $462.52 and its two-hundred day moving average price is $440.89. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 3.42.

Insiders Place Their Bets

In related news, EVP Valentin Sribar sold 682 shares of Gartner stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $453.00, for a total transaction of $308,946.00. Following the transaction, the executive vice president now owns 12,269 shares of the company’s stock, valued at approximately $5,557,857. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, EVP Claire Herkes sold 1,460 shares of the firm’s stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $475.76, for a total transaction of $694,609.60. Following the sale, the executive vice president now owns 2,842 shares of the company’s stock, valued at $1,352,109.92. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Valentin Sribar sold 682 shares of the business’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $453.00, for a total value of $308,946.00. Following the completion of the transaction, the executive vice president now owns 12,269 shares of the company’s stock, valued at $5,557,857. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 22,952 shares of company stock worth $10,598,070. Insiders own 3.60% of the company’s stock.

Institutional Trading of Gartner

Several hedge funds have recently bought and sold shares of the stock. Morgan Stanley lifted its holdings in shares of Gartner by 4.6% in the third quarter. Morgan Stanley now owns 2,157,075 shares of the information technology services provider’s stock valued at $741,193,000 after purchasing an additional 95,040 shares in the last quarter. Wellington Management Group LLP lifted its stake in Gartner by 12.0% in the 4th quarter. Wellington Management Group LLP now owns 1,852,820 shares of the information technology services provider’s stock valued at $835,826,000 after acquiring an additional 198,274 shares in the last quarter. Principal Financial Group Inc. boosted its position in Gartner by 30.3% during the 3rd quarter. Principal Financial Group Inc. now owns 1,565,046 shares of the information technology services provider’s stock worth $537,766,000 after acquiring an additional 364,128 shares during the last quarter. Brown Advisory Inc. boosted its position in Gartner by 4.6% during the 4th quarter. Brown Advisory Inc. now owns 1,208,914 shares of the information technology services provider’s stock worth $545,353,000 after acquiring an additional 52,826 shares during the last quarter. Finally, Franklin Resources Inc. grew its stake in shares of Gartner by 18.5% during the 4th quarter. Franklin Resources Inc. now owns 920,716 shares of the information technology services provider’s stock worth $415,344,000 after acquiring an additional 143,556 shares in the last quarter. 91.51% of the stock is currently owned by institutional investors and hedge funds.

Gartner Company Profile

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.