Charles Schwab Investment Management Inc. Acquires 3,691 Shares of Gartner, Inc. (NYSE:IT)

Charles Schwab Investment Management Inc. grew its stake in Gartner, Inc. (NYSE:IT - Free Report) by 0.8% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm 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 reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Banco Santander S.A. bought a new position in shares of Gartner during the 3rd quarter worth approximately $646,000. Landscape Capital Management L.L.C. acquired a new stake in Gartner in the 3rd quarter valued at $422,000. Citizens Financial Group Inc. RI lifted its position in Gartner by 20.2% during the 3rd quarter. Citizens Financial Group Inc. RI now owns 947 shares of the information technology services provider's stock worth $480,000 after buying an additional 159 shares in the last quarter. Jennison Associates LLC boosted its stake in shares of Gartner by 15.5% during the 3rd quarter. Jennison Associates LLC now owns 105,769 shares of the information technology services provider's stock worth $53,599,000 after buying an additional 14,167 shares during the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG bought a new position in shares of Gartner in the 3rd quarter valued at about $36,789,000. 91.51% of the stock is owned by institutional investors.

Gartner Stock Performance

Shares of NYSE:IT traded up $0.54 during trading on Friday, reaching $519.78. 415,917 shares of the stock were exchanged, compared to its average volume of 394,133. Gartner, Inc. has a 12 month low of $411.15 and a 12 month high of $559.00. The stock has a 50-day moving average price of $520.07 and a 200-day moving average price of $480.80. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 2.31. The firm has a market cap of $40.09 billion, a PE ratio of 38.33, a PEG ratio of 3.24 and a beta of 1.32.

Gartner (NYSE:IT - Get Free Report) last posted its quarterly earnings data on Tuesday, November 5th. The information technology services provider reported $2.50 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.45 by $0.05. Gartner had a net margin of 17.33% and a return on equity of 118.27%. The firm had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.48 billion. During the same quarter in the previous year, the firm posted $2.56 EPS. The business's revenue for the quarter was up 5.4% compared to the same quarter last year. Research analysts expect that Gartner, Inc. will post 11.89 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

IT has been the subject of several recent research reports. BMO Capital Markets increased their price target on Gartner from $450.00 to $510.00 and gave the company a "market perform" rating in a research report on Wednesday, July 31st. Bank of America raised their target price on shares of Gartner from $525.00 to $580.00 and gave the company a "buy" rating in a research note on Wednesday, July 31st. Morgan Stanley upped their price target 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. Wells Fargo & Company lifted their price objective on shares of Gartner from $460.00 to $470.00 and gave the company an "underweight" rating in a research report on Wednesday, November 6th. Finally, Deutsche Bank Aktiengesellschaft upped their target price on shares of Gartner from $529.00 to $531.00 and gave the company a "hold" rating in a report on Wednesday, November 6th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $539.25.

Insider Activity

In other news, EVP Yvonne Genovese sold 443 shares of the firm's stock in a transaction dated Monday, August 26th. The stock was 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 in the company, valued at $947,411.58. This trade represents a 18.44 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Scott Hensel sold 5,580 shares of the company's stock in a transaction that occurred 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 sale, the executive vice president now owns 19,724 shares in the company, valued at $9,664,760. The trade was a 22.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 73,172 shares of company stock worth $38,023,255. 3.60% of the stock is currently owned by corporate insiders.

About Gartner

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.