Charles Schwab Investment Management Inc. Has $248.32 Million Stock Holdings in Gartner, Inc. (NYSE:IT)

by · The Cerbat Gem

Charles Schwab Investment Management Inc. increased its position in shares of Gartner, Inc. (NYSE:IT – Free Report) by 0.8% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 490,011 shares of the information technology services provider’s stock after buying an additional 3,691 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.64% of Gartner worth $248,318,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in IT. Baron Wealth Management LLC boosted its holdings in Gartner by 4.1% during the third quarter. Baron Wealth Management LLC now owns 481 shares of the information technology services provider’s stock valued at $244,000 after purchasing an additional 19 shares in the last quarter. Fortitude Family Office LLC raised its stake in shares of Gartner by 23.8% in the third quarter. Fortitude Family Office LLC now owns 104 shares of the information technology services provider’s stock valued at $53,000 after acquiring an additional 20 shares during the last quarter. Moors & Cabot Inc. raised its stake in shares of Gartner by 3.0% in the second quarter. Moors & Cabot Inc. now owns 763 shares of the information technology services provider’s stock valued at $343,000 after acquiring an additional 22 shares during the last quarter. Mather Group LLC. raised its stake in shares of Gartner by 2.2% in the second quarter. Mather Group LLC. now owns 1,079 shares of the information technology services provider’s stock valued at $514,000 after acquiring an additional 23 shares during the last quarter. Finally, Wallace Advisory Group LLC raised its stake in shares of Gartner by 2.4% in the second quarter. Wallace Advisory Group LLC now owns 980 shares of the information technology services provider’s stock valued at $440,000 after acquiring an additional 23 shares during the last quarter. 91.51% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Gartner

In other news, EVP Scott Hensel sold 5,580 shares of the business’s stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $490.00, for a total value of $2,734,200.00. Following the completion of the transaction, the executive vice president now owns 19,724 shares of the company’s stock, valued at $9,664,760. The trade was a 22.05 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Yvonne Genovese sold 443 shares of the business’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $483.62, for a total transaction of $214,243.66. Following the completion of the transaction, the executive vice president now directly owns 1,959 shares of the company’s stock, valued at $947,411.58. This trade represents a 18.44 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 73,172 shares of company stock worth $38,023,255. Insiders own 3.60% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on IT. Wells Fargo & Company lifted their target price on shares of Gartner from $460.00 to $470.00 and gave the company an “underweight” rating in a research note on Wednesday, November 6th. Robert W. Baird lifted their target price on shares of Gartner from $565.00 to $590.00 and gave the company an “outperform” rating in a research note on Wednesday, November 6th. Barclays lifted their target price on shares of Gartner from $470.00 to $525.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 6th. Morgan Stanley boosted their price objective on shares of Gartner from $490.00 to $528.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 10th. Finally, UBS Group boosted their price objective on shares of Gartner from $510.00 to $580.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $539.25.

Read Our Latest Report on IT

Gartner Stock Performance

Shares of Gartner stock opened at $519.50 on Friday. The firm has a fifty day moving average of $519.89 and a two-hundred day moving average of $480.23. The stock has a market capitalization of $40.07 billion, a price-to-earnings ratio of 38.31, a PEG ratio of 3.23 and a beta of 1.32. Gartner, Inc. has a 52 week low of $411.15 and a 52 week high of $559.00. The company has a debt-to-equity ratio of 2.31, a quick ratio of 1.02 and a current ratio of 1.02.

Gartner (NYSE:IT – Get Free Report) last issued its earnings results on Tuesday, November 5th. The information technology services provider reported $2.50 EPS for the quarter, beating the consensus estimate of $2.45 by $0.05. The company had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.48 billion. Gartner had a net margin of 17.33% and a return on equity of 118.27%. The business’s revenue for the quarter was up 5.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.56 EPS. As a group, equities research analysts predict that Gartner, Inc. will post 11.89 EPS for the current year.

Gartner Profile

(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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