Charles Schwab Investment Management Inc. increased its holdings in shares of Gartner, Inc. (NYSE:IT - Free Report) by 8.0% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 549,813 shares of the information technology services provider's stock after purchasing an additional 40,607 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.72% of Gartner worth $230,779,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors have also recently modified their holdings of IT. Cary Street Partners Financial LLC bought a new position in shares of Gartner in the fourth quarter worth about $27,000. Itau Unibanco Holding S.A. raised its stake in Gartner by 453.3% during the 4th quarter. Itau Unibanco Holding S.A. now owns 83 shares of the information technology services provider's stock valued at $40,000 after purchasing an additional 68 shares during the period. Olde Wealth Management LLC bought a new stake in Gartner during the 1st quarter valued at approximately $42,000. GW&K Investment Management LLC raised its stake in Gartner by 210.8% during the 1st quarter. GW&K Investment Management LLC now owns 115 shares of the information technology services provider's stock valued at $48,000 after purchasing an additional 78 shares during the period. Finally, Wayfinding Financial LLC bought a new stake in Gartner during the 1st quarter valued at approximately $55,000. 91.51% of the stock is owned by institutional investors.
Gartner Trading Down 0.6%
IT traded down $1.42 during trading hours on Thursday, reaching $241.25. 612,441 shares of the company's stock traded hands, compared to its average volume of 786,073. The firm has a 50-day moving average price of $363.58 and a 200 day moving average price of $422.88. Gartner, Inc. has a 52-week low of $223.65 and a 52-week high of $584.01. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 1.61. The firm has a market capitalization of $18.57 billion, a PE ratio of 14.82 and a beta of 1.19.
Gartner (NYSE:IT - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The information technology services provider reported $3.53 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.38 by $0.15. The company had revenue of $1.66 billion during the quarter, compared to analysts' expectations of $1.68 billion. Gartner had a return on equity of 82.63% and a net margin of 19.71%. Gartner's revenue was up 5.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.22 EPS. As a group, sell-side analysts predict that Gartner, Inc. will post 12.5 EPS for the current fiscal year.
Wall Street Analyst Weigh In
Several research firms have weighed in on IT. The Goldman Sachs Group cut their price target on Gartner from $535.00 to $457.00 and set a "buy" rating for the company in a report on Wednesday, August 6th. Wells Fargo & Company cut their price target on Gartner from $345.00 to $225.00 and set an "underweight" rating for the company in a report on Wednesday, August 6th. Barclays cut their price target on Gartner from $475.00 to $320.00 and set an "overweight" rating for the company in a report on Wednesday, August 6th. UBS Group restated a "neutral" rating and set a $270.00 price target (down previously from $480.00) on shares of Gartner in a report on Wednesday, August 6th. Finally, BMO Capital Markets cut their price target on Gartner from $409.00 to $272.00 and set a "market perform" rating for the company in a report on Wednesday, August 6th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $369.25.
Check Out Our Latest Analysis on Gartner
Insiders Place Their Bets
In other Gartner news, EVP Akhil Jain sold 625 shares of Gartner stock in a transaction on Monday, May 19th. The stock was sold at an average price of $450.00, for a total transaction of $281,250.00. Following the completion of the sale, the executive vice president directly owned 6,548 shares of the company's stock, valued at $2,946,600. The trade was a 8.71% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 2.30% of the stock is currently owned by company insiders.
About Gartner
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Free Report)
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 include on-demand access to published research content, data and benchmarks, and direct access to a network of research experts.
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