Gartner (NYSE:IT) Announces Quarterly Earnings Results, Beats Expectations By $0.75 EPS

Key Points

• Gartner reported quarterly EPS of $3.59, beating analyst expectations of $2.84 by $0.75. Revenue was $1.50 billion, slightly above the $1.49 billion consensus estimate.
• Shares opened at $235.18, near their one-year high, while analysts maintained a cautious outlook: the consensus rating was “Reduce” with an average price target of $198.50.
• Insiders sold 6,043 shares worth approximately $1.17 million over the past 90 days, though insiders still own 2.60% of the company.

Gartner (NYSE:IT - Get Free Report) announced its quarterly earnings data on Tuesday. The information technology services provider reported $3.59 EPS for the quarter, beating the consensus estimate of $2.84 by $0.75, Zacks reports. The company had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.49 billion. Gartner had a net margin of 11.99% and a return on equity of 525.46%.

Gartner Price Performance

NYSE IT opened at $235.18 on Tuesday. Gartner has a one year low of $124.25 and a one year high of $256.89. The stock has a 50-day moving average of $197.04 and a 200 day moving average of $170.19. The company has a market capitalization of $14.85 billion, a price-to-earnings ratio of 21.09, a PEG ratio of 0.82 and a beta of 0.92. The company has a debt-to-equity ratio of 46.98, a quick ratio of 0.88 and a current ratio of 0.88.

Analysts Set New Price Targets

IT has been the topic of several analyst reports. UBS Group upped their target price on shares of Gartner from $196.00 to $208.00 and gave the stock a "neutral" rating in a research note on Monday, October 5th. Royal Bank Of Canada reiterated a "sector perform" rating and set a $198.00 price target on shares of Gartner in a report on Tuesday, October 20th. Wells Fargo & Company raised their price target on shares of Gartner from $150.00 to $175.00 and gave the company an "underweight" rating in a research report on Tuesday, October 20th. The Goldman Sachs Group boosted their price objective on shares of Gartner from $162.00 to $181.00 and gave the stock a "neutral" rating in a report on Wednesday, August 5th. Finally, BMO Capital Markets upped their price objective on Gartner from $206.00 to $212.00 and gave the company a "market perform" rating in a research report on Tuesday, October 13th. One equities research analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Reduce" and a consensus target price of $198.50.

Insiders Place Their Bets

In other news, EVP Robin B. Kranich sold 3,278 shares of the firm's stock in a transaction dated Thursday, August 27th. The shares were sold at an average price of $196.50, for a total transaction of $644,127.00. Following the sale, the executive vice president owned 20,358 shares of the company's stock, valued at $4,000,347. This trade represents a 13.87% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Akhil Jain sold 700 shares of Gartner stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $201.73, for a total transaction of $141,211.00. Following the completion of the sale, the executive vice president owned 8,130 shares of the company's stock, valued at $1,640,064.90. This represents a 7.93% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 6,043 shares of company stock worth $1,172,858 in the last 90 days. Corporate insiders own 2.60% of the company's stock.

Gartner Company Profile

Gartner, Inc is a global research and advisory company that provides information, analysis and guidance to business leaders, technology professionals and public-sector organizations. Its work focuses on helping clients evaluate technology markets, develop business strategies, manage risk and make decisions about digital transformation and other organizational priorities.

The company delivers its services through research and advisory programs, consulting engagements, executive guidance and conferences.

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