Charles Schwab Investment Management Inc. Decreases Position in Gartner, Inc. (NYSE:IT)

Charles Schwab Investment Management Inc. cut its holdings in shares of Gartner, Inc. (NYSE:ITGet Rating) by 1.3% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 461,765 shares of the information technology services provider’s stock after selling 6,237 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.56% of Gartner worth $154,378,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of IT. Stone Run Capital LLC lifted its position in Gartner by 1.5% in the third quarter. Stone Run Capital LLC now owns 26,460 shares of the information technology services provider’s stock worth $8,041,000 after purchasing an additional 394 shares during the period. Gotham Asset Management LLC boosted its position in shares of Gartner by 28.4% in the 3rd quarter. Gotham Asset Management LLC now owns 15,163 shares of the information technology services provider’s stock valued at $4,608,000 after purchasing an additional 3,357 shares during the period. ProShare Advisors LLC lifted its stake in Gartner by 23.9% during the fourth quarter. ProShare Advisors LLC now owns 27,187 shares of the information technology services provider’s stock valued at $9,089,000 after buying an additional 5,238 shares in the last quarter. American Century Companies Inc. boosted its holdings in shares of Gartner by 5.9% in the fourth quarter. American Century Companies Inc. now owns 115,793 shares of the information technology services provider’s stock worth $38,712,000 after buying an additional 6,467 shares during the period. Finally, BNP Paribas Arbitrage SA increased its position in shares of Gartner by 39.0% in the fourth quarter. BNP Paribas Arbitrage SA now owns 22,087 shares of the information technology services provider’s stock worth $7,384,000 after acquiring an additional 6,195 shares in the last quarter. Institutional investors and hedge funds own 92.05% of the company’s stock.

Shares of NYSE IT opened at $250.04 on Friday. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 20.79. The stock has a market capitalization of $20.14 billion, a PE ratio of 26.40 and a beta of 1.50. Gartner, Inc. has a 12-month low of $228.20 and a 12-month high of $368.99. The stock’s fifty day simple moving average is $284.24 and its two-hundred day simple moving average is $297.53.

Gartner (NYSE:ITGet Rating) last issued its earnings results on Tuesday, May 3rd. The information technology services provider reported $2.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.89 by $0.44. The company had revenue of $1.26 billion during the quarter, compared to analyst estimates of $1.24 billion. Gartner had a return on equity of 239.82% and a net margin of 16.39%. The firm’s quarterly revenue was up 14.4% on a year-over-year basis. During the same quarter last year, the business posted $2.00 EPS. On average, equities analysts predict that Gartner, Inc. will post 8.13 earnings per share for the current fiscal year.

Gartner declared that its board has approved a share buyback program on Tuesday, February 8th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the information technology services provider to repurchase up to 2% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its stock is undervalued.

Several research analysts have weighed in on the company. TheStreet lowered Gartner from a “b” rating to a “c+” rating in a research report on Tuesday, May 3rd. Morgan Stanley lowered their target price on shares of Gartner from $357.00 to $339.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 9th. StockNews.com began coverage on shares of Gartner in a research note on Thursday, March 31st. They issued a “buy” rating for the company. Finally, Bank of America upgraded Gartner from a “neutral” rating to a “buy” rating and set a $340.00 price objective on the stock in a research report on Thursday, April 14th. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $346.50.

In related news, EVP Alwyn Dawkins sold 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 1st. The shares were sold at an average price of $273.41, for a total transaction of $273,410.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Jules Kaufman sold 4,541 shares of the firm’s stock in a transaction dated Wednesday, May 4th. The stock was sold at an average price of $271.27, for a total transaction of $1,231,837.07. Following the transaction, the executive vice president now directly owns 4,641 shares of the company’s stock, valued at $1,258,964.07. The disclosure for this sale can be found here. Insiders own 3.60% of the company’s stock.

Gartner Profile (Get Rating)

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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