Equities Analysts Set Expectations for Gartner, Inc.’s Q3 2022 Earnings (NYSE:IT)



Gartner, Inc. (NYSE:IT – Get Rating) – Jefferies Financial Group issued their Q3 2022 earnings estimates for Gartner in a note issued to investors on Wednesday, August 3rd. Jefferies Financial Group analyst H. Mazari technology providers anticipates that the information services will post earnings of $1.79 per share for the quarter. The consensus estimate for Gartner’s current full-year earnings is $9.08 per share. Jefferies Financial Group also issued estimates for Gartner’s Q4 2022 earnings at $1.90 EPS, FY2022 earnings at $8.87 EPS, Q1 2023 earnings at $2.01 EPS, Q2 2023 earnings at $2.49 EPS, Q3 2023 at $2.14 EPS and Q4 2023 earnings at $2.52 EPS.

A number of other equities analysts have also issued reports on the stock. Wells Fargo & Company upped their target price on shares of Gartner from $305.00 to $345.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 3rd. Robert W. Baird upped their target price on shares of Gartner from $334.00 to $365.00 in a research report on Wednesday, August 3rd. Morgan Stanley upped their target price on shares of Gartner from $274.00 to $300.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 3rd. TheStreet lowered shares of Gartner from a “b” rating to a “c+” rating in a research report on Tuesday, May 3rd. Finally, Bank of America upgraded shares of Gartner from a “neutral” rating to a “buy” rating and set a $340.00 target price on the stock in a research report on Thursday, April 14th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, Gartner presently has a consensus rating of “Moderate Buy” and a consensus price target of $321.67.

Gartner Price Performance

NYSE:IT opened at $295.44 on Monday. Gartner has a 12 month low of $221.39 and a 12 month high of $368.99. The company’s 50-day moving average price is $251.55 and its two-hundred day moving average price is $271.85. The firm has a market cap of $23.79 billion, a PE ratio of 33.31 and a beta of 1.45. The company has a quick ratio of 0.70, a current ratio of 0.62 and a debt-to-equity ratio of 20.79.

Gartner (NYSE:IT – Get Rating) last released its quarterly earnings results on Tuesday, August 2nd. The information technology services provider reported $2.85 EPS for the quarter, beating analysts’ consensus estimates of $2.15 by $0.70. The firm had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.32 billion. Gartner had a net margin of 14.42% and a return on equity of 497.67%. The company’s revenue for the quarter was up 18.0% compared to the same quarter last year. During the same period in the previous year, the business earned $2.24 earnings per share.

Institutional Investors Weigh In On Gartner

Several large investors have recently made changes to their positions in IT. Commonwealth Equity Services LLC increased its position in shares of Gartner by 3.7% during the fourth quarter. Commonwealth Equity Services LLC now owns 7,356 shares of the information technology services provider’s stock worth $2,459,000 after acquiring an additional 260 shares in the last quarter. CWM LLC bought a new stake in shares of Gartner during the fourth quarter worth $343,000. Qube Research & Technologies Ltd increased its position in shares of Gartner by 43.7% during the fourth quarter. Qube Research & Technologies Ltd now owns 15,049 shares of the information technology services provider’s stock worth $5,031,000 after acquiring an additional 4,580 shares in the last quarter. Fifth Third Bancorp increased its position in shares of Gartner by 16.6% during the fourth quarter. Fifth Third Bancorp now owns 1,103 shares of the information technology services provider’s stock worth $369,000 after acquiring an additional 157 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. increased its position in shares of Gartner by 16.2% during the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 297,539 shares of the information technology services provider’s stock worth $99,473,000 after acquiring an additional 41,497 shares in the last quarter. Institutional investors own 92.05% of the company’s stock.

Insider Activity at Gartner

In other Gartner news, CEO Eugene A. Hall sold 10,425 shares of the company’s stock in a transaction that occurred on Wednesday, August 3rd. The shares were sold at an average price of $294.26, for a total value of $3,067,660.50. Following the completion of the sale, the chief executive officer now owns 1,167,041 shares of the company’s stock, valued at $343,413,484.66. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Gartner news, CMO Kenneth Allard sold 1,345 shares of the company’s stock in a transaction that occurred on Wednesday, August 3rd. The shares were sold at an average price of $290.55, for a total value of $390,789.75. Following the completion of the sale, the chief marketing officer now owns 3,074 shares of the company’s stock, valued at $893,150.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Eugene A. Hall sold 10,425 shares of the company’s stock in a transaction that occurred on Wednesday, August 3rd. The shares were sold at an average price of $294.26, for a total transaction of $3,067,660.50. Following the completion of the sale, the chief executive officer now directly owns 1,167,041 shares of the company’s stock, valued at approximately $343,413,484.66. The disclosure for this sale can be found here. Insiders have sold 17,951 shares of company stock worth $5,188,596 over the last ninety days. Company insiders own 3.70% of the company’s stock.

Gartner declared that its Board of Directors has approved a stock buyback program on Tuesday, May 3rd that allows the company to buyback $500.00 million in shares. This buyback authorization allows the information technology services provider to reacquire up to 2.2% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its stock is undervalued.

About Gartner

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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 includes on-demand access to published research content, data and benchmarks, and direct access to a network of research experts.

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Earnings History and Estimates for Gartner (NYSE:IT)



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