Gartner (NYSE:IT) Updates FY 2024 Earnings Guidance

Gartner (NYSE:IT) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided earnings per share guidance of 11.750- for the period, compared to the consensus earnings per share estimate of 11.680. The company issued revenue guidance of $6.2 billion-, compared to the consensus revenue estimate of $6.2 billion.

Gartner Stock Performance

IT opened at $505.06 on Tuesday. The stock has a market cap of $38.92 billion, a P/E ratio of 48.10, a P/E/G ratio of 3.13 and a beta of 1.32. The company has a debt-to-equity ratio of 3.80, a current ratio of 0.90 and a quick ratio of 0.90. The firm has a fifty day moving average price of $508.78 and a 200 day moving average price of $472.10. Gartner has a 1 year low of $382.27 and a 1 year high of $535.29.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Morgan Stanley boosted their price target on Gartner from $490.00 to $528.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 10th. BMO Capital Markets boosted their target price on shares of Gartner from $450.00 to $510.00 and gave the company a “market perform” rating in a report on Wednesday, July 31st. Robert W. Baird increased their price target on shares of Gartner from $517.00 to $565.00 and gave the company an “outperform” rating in a research note on Wednesday, July 31st. Wells Fargo & Company lifted their price target on shares of Gartner from $435.00 to $460.00 and gave the company an “underweight” rating in a research report on Monday, October 14th. Finally, StockNews.com lowered Gartner from a “buy” rating to a “hold” rating in a research report on Wednesday, July 17th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, Gartner presently has an average rating of “Hold” and a consensus price target of $532.86.

Insiders Place Their Bets

In other Gartner news, EVP Claire Herkes sold 478 shares of the business’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $506.01, for a total transaction of $241,872.78. Following the sale, the executive vice president now directly owns 1,905 shares in the company, valued at $963,949.05. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Eugene A. Hall sold 34,060 shares of Gartner stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $505.40, for a total value of $17,213,924.00. Following the completion of the transaction, the chief executive officer now directly owns 1,143,401 shares in the company, valued at approximately $577,874,865.40. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Claire Herkes sold 478 shares of the company’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $506.01, for a total value of $241,872.78. Following the sale, the executive vice president now owns 1,905 shares in the company, valued at approximately $963,949.05. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 49,899 shares of company stock worth $24,959,886 over the last ninety days. Corporate insiders own 3.60% of the company’s stock.

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.