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Gartner EVP William Wartinbee sells $98,949 in stock

Published 10/12/2024, 23:02
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William James Wartinbee III, Executive Vice President of Global Sales Strategy and Operations at Gartner Inc. (NYSE:IT), has sold 189 shares of the company's common stock. The technology research giant, currently valued at nearly $40 billion, maintains a "GOOD" overall financial health score according to InvestingPro analysis. The shares were sold at a price of $523.54 each, totaling approximately $98,949. Following this transaction, Wartinbee holds 7,311 shares of Gartner. This sale was disclosed in a recent SEC filing dated December 6, 2024. InvestingPro data shows the stock trading at high multiples, with 11 additional ProTips available to subscribers, including detailed insider trading analysis and comprehensive valuation metrics in the Pro Research Report.

In other recent news, Gartner Inc. reported significant developments. The company announced the retirement of long-standing board member James Smith, who has been an integral part of Gartner's growth since 2002. This change, disclosed in a recent SEC filing, does not signal any disagreements with the company’s operations, policies, or practices.

Gartner also reported a 5% year-over-year increase in revenue, reaching $1.5 billion in the third quarter of 2024. The company's research business, particularly its enterprise function leaders segment, showed a strong performance with a 9% contract value growth. Additionally, Gartner benefited from a $300 million insurance payout due to conference cancellations.

The company raised its full-year guidance for revenue, EBITDA, EPS, and free cash flow. Gartner projects research revenue of at least $5.11 billion, conference revenue of at least $580 million, and consulting revenue of at least $535 million for 2024. However, it's worth noting that contract optimization revenue was reported at $26 million, facing tough year-over-year comparisons.

InvestingPro data shows seven analysts have recently revised their earnings upwards for the upcoming period, suggesting continued confidence in the company's direction. Despite these recent developments, Gartner remains confident in sustaining double-digit revenue growth and generating significant shareholder value.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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