William Blair Issues Optimistic Outlook for Gartner Earnings

Gartner, Inc. (NYSE:IT) – William Blair increased their FY2024 earnings per share (EPS) estimates for Gartner in a report released on Tuesday, November 5th. William Blair analyst A. Nicholas now anticipates that the information technology services provider will post earnings of $11.91 per share for the year, up from their previous forecast of $11.31. The consensus estimate for Gartner’s current full-year earnings is $11.65 per share. William Blair also issued estimates for Gartner’s Q4 2024 earnings at $3.27 EPS, Q1 2025 earnings at $2.98 EPS, Q2 2025 earnings at $3.58 EPS and Q3 2025 earnings at $2.84 EPS.

IT has been the subject of a number of other reports. Barclays raised their target price on Gartner from $470.00 to $525.00 and gave the company an “equal weight” rating in a report on Wednesday. Robert W. Baird lifted their price target on Gartner from $565.00 to $590.00 and gave the stock an “outperform” rating in a research report on Wednesday. UBS Group upped their price objective on Gartner from $510.00 to $580.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. StockNews.com upgraded Gartner from a “hold” rating to a “buy” rating in a research report on Wednesday. Finally, Wells Fargo & Company boosted their target price on Gartner from $460.00 to $470.00 and gave the stock an “underweight” rating in a research report on Wednesday. One research analyst has rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $539.25.

Gartner Stock Up 0.7 %

Shares of IT opened at $540.75 on Friday. Gartner has a 52-week low of $396.60 and a 52-week high of $542.13. The company has a market capitalization of $41.67 billion, a PE ratio of 51.50, a price-to-earnings-growth ratio of 3.14 and a beta of 1.32. The stock has a fifty day simple moving average of $511.54 and a two-hundred day simple moving average of $473.53. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 3.80.

Gartner (NYSE:IT) last released its quarterly earnings data on Tuesday, November 5th. The information technology services provider reported $2.50 EPS for the quarter, topping the consensus estimate of $2.45 by $0.05. Gartner had a return on equity of 142.05% and a net margin of 13.67%. The business had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.48 billion. During the same quarter in the prior year, the firm posted $2.56 EPS. The business’s quarterly revenue was up 5.4% compared to the same quarter last year.

Institutional Investors Weigh In On Gartner

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Eastern Bank bought a new position in Gartner in the 3rd quarter worth about $26,000. Central Pacific Bank Trust Division purchased a new position in shares of Gartner during the first quarter valued at approximately $36,000. Crewe Advisors LLC increased its stake in shares of Gartner by 223.3% during the second quarter. Crewe Advisors LLC now owns 97 shares of the information technology services provider’s stock valued at $44,000 after buying an additional 67 shares during the period. Ashton Thomas Securities LLC purchased a new position in shares of Gartner during the third quarter valued at approximately $44,000. Finally, Fortitude Family Office LLC lifted its stake in shares of Gartner by 23.8% in the 3rd quarter. Fortitude Family Office LLC now owns 104 shares of the information technology services provider’s stock valued at $53,000 after purchasing an additional 20 shares during the period. Institutional investors and hedge funds own 91.51% of the company’s stock.

Insider Buying and Selling at Gartner

In related news, CEO Eugene A. Hall sold 34,060 shares of the firm’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $505.40, for a total transaction of $17,213,924.00. Following the sale, the chief executive officer now owns 1,143,401 shares of the company’s stock, valued at approximately $577,874,865.40. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, CEO Eugene A. Hall sold 34,060 shares of Gartner stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $505.40, for a total transaction of $17,213,924.00. Following the completion of the transaction, the chief executive officer now 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 firm’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $506.01, for a total transaction of $241,872.78. Following the sale, the executive vice president now owns 1,905 shares of the company’s stock, valued at $963,949.05. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 49,899 shares of company stock worth $24,959,886. Insiders own 3.60% of the company’s stock.

About Gartner

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.