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Gartner(IT) - 2024 Q2 - Quarterly Report
2024-07-30 10:05
Financial Performance - The provision for income taxes was $118.8 million for the six months ended June 30, 2024, compared to $151.6 million for the same period in 2023, with an effective tax rate of 21.3% in 2024 versus 23.5% in 2023 [132]. - The Company’s comprehensive income (loss) for the period included a net loss of $5.3 million, reflecting changes in accumulated other comprehensive loss [130]. - Total lease cost, net for June 2024 was $18.922 million, a decrease of 9.2% from $20.843 million in June 2023 [147]. - The company recognized impairment losses of $10.0 million for the three months ended June 30, 2023, and $18.7 million for the six months ended June 30, 2023 [150]. Assets and Liabilities - Total assets measured at fair value on a recurring basis amounted to $144.6 million as of June 30, 2024, compared to $123.6 million as of December 31, 2023 [141]. - The Company’s total liabilities measured at fair value on a recurring basis were $140.1 million as of June 30, 2024, compared to $123.2 million as of December 31, 2023 [141]. - The company has $2.5 billion in total debt principal outstanding as of June 30, 2024 [273]. - The Company has a deferred compensation plan for certain highly compensated officers, managers, and other key employees, with liabilities recorded at $139.9 million as of June 30, 2024 [141]. Cash Flow and Receivables - Cash paid for amounts included in the measurement of operating lease liabilities was $38.787 million for June 2024, an increase of 10.0% from $35.194 million in June 2023 [147]. - The company recorded cash receipts from sublease arrangements of $11.984 million for June 2024, a decrease of 6.2% from $12.779 million in June 2023 [147]. - Cash and cash equivalents as of June 30, 2024, totaled $1.2 billion, with a potential impact of $84.2 million from a 10% change in foreign currency exchange rates [290]. - The company expects to receive a settlement payment of $300.0 million from an insurer during the third quarter of 2024 [151]. Risk Factors and Management - The Company operates in a competitive environment with numerous risks, including economic conditions, inflation, and geopolitical factors that could materially affect future results [127]. - The Company’s ability to achieve growth is contingent upon effectively managing acquisitions and maintaining customer renewals amid competitive pressures [127]. - The estimated net amount of existing losses on the Company's interest rate swaps expected to be reclassified into earnings within the next 12 months is $18.3 million [131]. - The company has limited concentration of credit risk due to a diverse customer base and geographic dispersion [291]. Operational Efficiency - The Company’s interest expense for the six months ended June 30, 2024, was $9.7 million, compared to $10.2 million for the same period in 2023 [138]. - Right-of-use assets obtained in exchange for new operating lease liabilities were $3.944 million for June 2024, a decrease of 37.8% from $6.344 million in June 2023 [147]. - The company has established effective disclosure controls and procedures as of June 30, 2024 [277].
Gartner (IT) to Report Q2 Earnings: What's in the Offing?
ZACKS· 2024-07-25 17:15
Q2 Expectations Block (SQ) : The Zacks Consensus Estimate for the company's second-quarter 2024 revenues is pegged at $6.2 billion, indicating year-over-year growth of 12.3%. For earnings, the consensus mark is pegged at 76 cents per share, suggesting a 94.9% rise from the year-ago quarter's actual. The company beat the consensus estimate in three of the past four quarters and missed in one, with an average surprise of 12.8%. Gartner Inc. (IT) is scheduled to release its second-quarter 2024 results on Jul 3 ...
What Makes Gartner (IT) a Strong Momentum Stock: Buy Now?
ZACKS· 2024-07-24 17:00
Momentum investing is all about the idea of following a stock's recent trend, which can be in either direction. In the 'long' context, investors will essentially be "buying high, but hoping to sell even higher." And for investors following this methodology, taking advantage of trends in a stock's price is key; once a stock establishes a course, it is more than likely to continue moving in that direction. The goal is that once a stock heads down a fixed path, it will lead to timely and profitable trades. Bel ...
Here's Why Gartner (IT) is a Strong Momentum Stock
ZACKS· 2024-07-24 14:50
Taking full advantage of the stock market and investing with confidence are common goals for new and old investors, and Zacks Premium offers many different ways to do both. The research service features daily updates of the Zacks Rank and Zacks Industry Rank, full access to the Zacks #1 Rank List, Equity Research reports, and Premium stock screens, all of which will help you become a smarter, more confident investor. It also includes access to the Zacks Style Scores. What are the Zacks Style Scores? The Zac ...
Gartner (IT) Stock Rises 34% in a Year: What Should You Know?
ZACKS· 2024-06-25 15:50
WCN has an expected long-term (three to five years) EPS growth rate of 9.9%. The company's revenues for 2024 and 2025 are expected to increase 5.4% and 8.8%, respectively, year over year.Its earnings for 2024 and 2025 are anticipated to grow 1.9% and 11%, respectively. Over the years, the company's research reports have become vital for diverse companies across different sectors, strengthening its leading position in the market. Gartner draws on unique data assets and deep domain expertise to provide key in ...
Altair Named a Leader in the June 2024 Gartner® Magic Quadrant™ for Data Science and Machine Learning Platforms
Prnewswire· 2024-06-20 15:37
TROY, Mich., June 20, 2024 /PRNewswire/ -- Altair (Nasdaq: ALTR), a global leader in computational intelligence, today announced that it has been positioned by Gartner as a Leader in the Magic Quadrant for Data Science and Machine Learning Platforms for its offering, Altair® RapidMiner®. The evaluation was based on specific criteria that analyzed the company's overall Completeness of Vision and Ability to Execute. According to the report, "Leaders in this market have a mature, refined, and targeted company ...
Verizon Business Recognized as a 2024 Gartner® Peer Insights™ Customers' Choice for IoT
GlobeNewswire News Room· 2024-06-18 13:30
NEW YORK, June 18, 2024 (GLOBE NEWSWIRE) -- Today, Verizon Business announced it was named a Customers' Choice in the 2024 Gartner Peer Insights "Voice of the Customer" report for Managed IoT Connectivity Services, Worldwide. This distinction is based on feedback and ratings submitted to Gartner Peer Insights from end-user professionals who have experience with the product or service. Over the past 18 months ending January 31st, 2024, 55 verified customers and peers reviewed Verizon's managed Internet of Th ...
eGain named a Representative Vendor in the 2024 Gartner® Market Guide for Customer Service Knowledge Management Systems
GlobeNewswire News Room· 2024-06-13 16:14
SUNNYVALE, Calif., June 13, 2024 (GLOBE NEWSWIRE) -- eGain Corporation (NASDAQ: EGAN), the AI knowledge platform for customer service, today announced that it has been named in the 2024 Gartner Market Guide for Customer Service Knowledge Management Systems. | --- | |---------------------------------------------------------------| | | | Guided assistance | | Portal / help center | | Customer journey orchestration Curation and contextualization | | Insight engine | | Knowledge graph | | Usage analytics | | Kn ...
Varonis Recognized as a Customers' Choice in 2024 Gartner® Peer Insights™ Voice of the Customer DSPM Report
GlobeNewswire News Room· 2024-06-05 13:00
About Varonis Varonis (Nasdaq: VRNS) is a leader in data security, fighting a different battle than conventional cybersecurity companies. Our cloud-native Data Security Platform continuously discovers and classifies critical data, removes exposures, and detects advanced threats with AI-powered automation. NEW YORK, June 05, 2024 (GLOBE NEWSWIRE) -- Varonis Systems, Inc. (Nasdaq: VRNS), a leader in data security, proudly announced it was recognized as a Customers' Choice in a new Gartner® Report, "Voice of t ...
Optimove to Highlight Data Extensions, its Latest Advancement to its Customer-Led Marketing Platform, at the 2024 Gartner® Marketing Symposium| Xpo™ in Denver, June 3-5
GlobeNewswire News Room· 2024-06-03 16:23
DENVER, June 03, 2024 (GLOBE NEWSWIRE) -- Optimove will highlight Data Extensions, the latest advancement to its Customer-Led Marketing Platform, at the 2024 Gartner Marketing Symposium/Xpo in Denver, June 3-5. Data Extensions is a powerful new feature that enhances the platform's robust data foundation for campaign segmentation and personalization. Starting in Q3 2024, Data Extensions will enable marketers to connect seamlessly to third-party sources as well as upload and manage their data for personalizat ...