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Yvonne Genovese, Executive Vice President of Global Product Management at Gartner Inc. (NYSE:IT), has recently sold 173 shares of the company's common stock. The transaction, which took place on December 11, 2024, was executed at a price of $519.83 per share, resulting in a total sale value of $89,930. The sale price was near the stock's 52-week high of $559, with Gartner currently commanding a market capitalization of $39.2 billion and trading at a P/E ratio of 37.2. Following this sale, Genovese retains 1,959 shares of Gartner stock. The transaction was disclosed in a filing with the Securities and Exchange Commission, signed by Kevin Tang on behalf of Genovese. According to InvestingPro data, Gartner maintains strong financial health with a 67.8% gross profit margin and has demonstrated solid growth with revenue increasing by 5.4% over the last twelve months. Investors seeking deeper insights into Gartner's valuation and growth prospects can access comprehensive analysis and 12 additional ProTips through InvestingPro's detailed research reports.
"In other recent news, Gartner Inc. 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 strong performance with a 9% contract value growth. Gartner also 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, projecting 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.
In other developments, Gartner announced the retirement of long-standing board member James Smith. Smith's decision to retire was not the result of any disagreements with the company’s operations, policies, or practices. The company did not immediately name a successor or provide details on how the board composition would change following Smith’s retirement.
Seven analysts from InvestingPro have recently revised their earnings upwards for the upcoming period, suggesting continued confidence in the company's direction. These recent developments reflect Gartner's strong financial health and strategic investments for continued success in the upcoming year."
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