Schechter Investment Advisors LLC Decreases Position in Gartner, Inc. (NYSE:IT)

Schechter Investment Advisors LLC cut its stake in shares of Gartner, Inc. (NYSE:IT) by 10.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,419 shares of the information technology services provider’s stock after selling 278 shares during the period. Schechter Investment Advisors LLC’s holdings in Gartner were worth $1,091,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. BKM Wealth Management LLC purchased a new stake in shares of Gartner in the fourth quarter worth approximately $26,000. OFI Invest Asset Management bought a new position in Gartner in the third quarter worth approximately $25,000. Cornerstone Planning Group LLC bought a new position in Gartner in the second quarter worth approximately $27,000. Fortitude Family Office LLC bought a new position in Gartner in the fourth quarter worth approximately $38,000. Finally, VisionPoint Advisory Group LLC grew its stake in Gartner by 254.2% in the third quarter. VisionPoint Advisory Group LLC now owns 85 shares of the information technology services provider’s stock worth $29,000 after purchasing an additional 61 shares in the last quarter. 91.51% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP Claire Herkes sold 1,460 shares of the firm’s stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $475.76, for a total transaction of $694,609.60. Following the sale, the executive vice president now directly owns 2,842 shares in the company, valued at approximately $1,352,109.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Gartner news, Director James C. Smith sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $470.09, for a total transaction of $2,350,450.00. Following the completion of the sale, the director now directly owns 618,235 shares in the company, valued at approximately $290,626,091.15. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Claire Herkes sold 1,460 shares of the business’s stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $475.76, for a total value of $694,609.60. Following the sale, the executive vice president now owns 2,842 shares of the company’s stock, valued at $1,352,109.92. The disclosure for this sale can be found here. Insiders have sold 22,952 shares of company stock worth $10,598,070 in the last ninety days. Company insiders own 3.90% of the company’s stock.

Gartner Stock Performance

NYSE IT opened at $481.12 on Thursday. The stock has a 50-day simple moving average of $464.22 and a two-hundred day simple moving average of $421.49. The firm has a market capitalization of $37.51 billion, a P/E ratio of 43.50, a PEG ratio of 4.34 and a beta of 1.29. Gartner, Inc. has a fifty-two week low of $292.60 and a fifty-two week high of $486.54. The company has a debt-to-equity ratio of 3.60, a quick ratio of 0.91 and a current ratio of 0.91.

Gartner (NYSE:IT) last posted its earnings results on Tuesday, February 6th. The information technology services provider reported $3.04 EPS for the quarter, beating analysts’ consensus estimates of $2.83 by $0.21. Gartner had a return on equity of 156.35% and a net margin of 14.94%. The firm had revenue of $1.60 billion for the quarter, compared to analysts’ expectations of $1.59 billion. During the same period last year, the firm earned $3.70 EPS. The company’s quarterly revenue was up 6.3% on a year-over-year basis. On average, equities analysts forecast that Gartner, Inc. will post 11.36 earnings per share for the current year.

Wall Street Analysts Forecast Growth

IT has been the topic of several recent research reports. Wells Fargo & Company increased their target price on Gartner from $380.00 to $435.00 and gave the company an “overweight” rating in a research report on Friday, December 15th. BMO Capital Markets increased their target price on Gartner from $444.00 to $450.00 and gave the company a “market perform” rating in a research report on Thursday, February 8th. StockNews.com cut Gartner from a “buy” rating to a “hold” rating in a research report on Saturday, February 10th. Morgan Stanley raised their price objective on Gartner from $421.00 to $446.00 and gave the stock an “equal weight” rating in a research report on Tuesday, February 6th. Finally, UBS Group raised their price objective on Gartner from $412.00 to $490.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 6th. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $455.25.

Gartner Company Profile

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.