Gartner (NYSE:IT) Posts Quarterly Earnings Results, Beats Estimates By $0.35 EPS

Gartner (NYSE:IT) announced its quarterly earnings data on Tuesday. The information technology services provider reported $2.76 EPS for the quarter, beating analysts’ consensus estimates of $2.41 by $0.35, Zacks reports. Gartner had a net margin of 19.71% and a return on equity of 82.63%. The firm had revenue of $1.52 billion for the quarter, compared to the consensus estimate of $1.52 billion. Gartner updated its FY 2025 guidance to 12.650- EPS.

Gartner Stock Performance

Gartner stock traded down $13.29 on Thursday, hitting $223.83. The company’s stock had a trading volume of 493,617 shares, compared to its average volume of 958,399. The firm has a market cap of $16.95 billion, a P/E ratio of 13.76 and a beta of 1.19. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 1.61. The company has a fifty day moving average price of $249.01 and a 200-day moving average price of $330.84. Gartner has a one year low of $223.23 and a one year high of $584.01.

Insider Activity

In other news, SVP John J. Rinello sold 105 shares of the firm’s stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $249.71, for a total value of $26,219.55. Following the transaction, the senior vice president owned 3,225 shares of the company’s stock, valued at approximately $805,314.75. This trade represents a 3.15% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jose M. Gutierrez bought 417 shares of Gartner stock in a transaction dated Monday, August 18th. The stock was acquired at an average cost of $239.80 per share, for a total transaction of $99,996.60. Following the purchase, the director directly owned 2,080 shares in the company, valued at approximately $498,784. The trade was a 25.08% increase in their position. The disclosure for this purchase is available in the SEC filing. 3.60% of the stock is currently owned by corporate insiders.

Institutional Trading of Gartner

A number of hedge funds have recently modified their holdings of the company. State of Wyoming acquired a new stake in shares of Gartner in the 2nd quarter valued at approximately $231,000. FORA Capital LLC acquired a new stake in Gartner during the 2nd quarter worth approximately $969,000. CANADA LIFE ASSURANCE Co raised its holdings in Gartner by 8.2% during the 2nd quarter. CANADA LIFE ASSURANCE Co now owns 100,644 shares of the information technology services provider’s stock worth $40,742,000 after buying an additional 7,606 shares during the period. MUFG Securities EMEA plc acquired a new stake in Gartner during the 2nd quarter worth approximately $91,000. Finally, Corient Private Wealth LLC raised its holdings in Gartner by 2.4% during the 2nd quarter. Corient Private Wealth LLC now owns 63,627 shares of the information technology services provider’s stock worth $25,719,000 after buying an additional 1,508 shares during the period. 91.51% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have commented on IT. Truist Financial began coverage on shares of Gartner in a research report on Thursday, October 16th. They issued a “buy” rating and a $300.00 target price for the company. Royal Bank Of Canada began coverage on shares of Gartner in a research report on Tuesday, September 9th. They issued a “sector perform” rating and a $263.00 target price for the company. Morgan Stanley set a $307.00 target price on shares of Gartner in a research report on Monday, October 13th. Barclays decreased their target price on shares of Gartner from $270.00 to $260.00 and set an “equal weight” rating for the company in a research report on Wednesday. Finally, The Goldman Sachs Group decreased their target price on shares of Gartner from $457.00 to $390.00 and set a “buy” rating for the company in a research report on Wednesday. Four research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, Gartner has an average rating of “Hold” and a consensus price target of $311.67.

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.