Schechter Investment Advisors LLC Sells 591 Shares of Gartner, Inc. (NYSE:IT)

Schechter Investment Advisors LLC lessened its stake in Gartner, Inc. (NYSE:IT) by 25.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,696 shares of the information technology services provider’s stock after selling 591 shares during the quarter. Schechter Investment Advisors LLC’s holdings in Gartner were worth $822,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the company. Kestra Investment Management LLC bought a new stake in shares of Gartner in the fourth quarter valued at approximately $29,000. Ashton Thomas Securities LLC bought a new stake in Gartner during the 3rd quarter valued at $44,000. True Wealth Design LLC lifted its position in shares of Gartner by 2,350.0% during the third quarter. True Wealth Design LLC now owns 98 shares of the information technology services provider’s stock worth $50,000 after acquiring an additional 94 shares in the last quarter. SBI Securities Co. Ltd. bought a new position in shares of Gartner in the fourth quarter worth $49,000. Finally, Capital Performance Advisors LLP bought a new position in shares of Gartner in the third quarter worth $77,000. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Insider Buying and Selling

In other Gartner news, Director Eileen Serra sold 1,200 shares of the business’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $489.77, for a total value of $587,724.00. Following the completion of the sale, the director now owns 1,627 shares in the company, valued at approximately $796,855.79. The trade was a 42.45 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP John J. Rinello sold 90 shares of the stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $530.51, for a total value of $47,745.90. Following the sale, the senior vice president now directly owns 3,259 shares of the company’s stock, valued at approximately $1,728,932.09. This trade represents a 2.69 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,479 shares of company stock worth $734,419 in the last 90 days. 3.60% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on IT shares. StockNews.com lowered Gartner from a “buy” rating to a “hold” rating in a research note on Tuesday, February 25th. Barclays upgraded shares of Gartner from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $525.00 to $600.00 in a research report on Friday, January 10th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Gartner in a report on Tuesday, February 4th. Deutsche Bank Aktiengesellschaft raised their price target on shares of Gartner from $529.00 to $531.00 and gave the company a “hold” rating in a report on Wednesday, November 6th. Finally, Morgan Stanley decreased their price target on shares of Gartner from $564.00 to $555.00 and set an “equal weight” rating on the stock in a report on Thursday, January 16th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $552.63.

Gartner Stock Down 1.8 %

IT opened at $482.52 on Wednesday. The business’s fifty day simple moving average is $510.20 and its 200 day simple moving average is $510.31. Gartner, Inc. has a 52 week low of $411.15 and a 52 week high of $584.01. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 1.81. The stock has a market cap of $37.07 billion, a PE ratio of 30.10, a P/E/G ratio of 3.30 and a beta of 1.34.

Gartner (NYSE:IT) last issued its quarterly earnings results on Tuesday, February 4th. The information technology services provider reported $5.45 EPS for the quarter, beating analysts’ consensus estimates of $3.22 by $2.23. The business had revenue of $1.72 billion for the quarter, compared to analysts’ expectations of $1.69 billion. Gartner had a net margin of 20.00% and a return on equity of 116.56%. The business’s quarterly revenue was up 8.1% on a year-over-year basis. During the same period last year, the business earned $3.04 earnings per share. As a group, research analysts expect that Gartner, Inc. will post 12.5 earnings per share for the current fiscal year.

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.