Schwerin Boyle Capital Management Inc. Sells 236 Shares of Gartner, Inc. (NYSE:IT)

Schwerin Boyle Capital Management Inc. decreased its stake in shares of Gartner, Inc. (NYSE:IT) by 0.3% during the fourth quarter, HoldingsChannel reports. The firm owned 74,415 shares of the information technology services provider’s stock after selling 236 shares during the quarter. Gartner makes up about 3.7% of Schwerin Boyle Capital Management Inc.’s investment portfolio, making the stock its 7th largest position. Schwerin Boyle Capital Management Inc.’s holdings in Gartner were worth $36,052,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in Gartner during the fourth quarter valued at $460,541,000. Madison Investment Advisors LLC acquired a new position in Gartner in the fourth quarter valued at approximately $244,799,000. Raymond James Financial Inc. purchased a new stake in Gartner in the 4th quarter worth approximately $165,476,000. FMR LLC increased its holdings in shares of Gartner by 8.6% during the 4th quarter. FMR LLC now owns 2,822,122 shares of the information technology services provider’s stock valued at $1,367,233,000 after purchasing an additional 223,087 shares in the last quarter. Finally, Fisher Funds Management LTD purchased a new stake in Gartner during the fourth quarter worth $97,518,000. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Gartner Price Performance

IT stock opened at $408.39 on Tuesday. Gartner, Inc. has a 1 year low of $366.05 and a 1 year high of $584.01. The firm has a market capitalization of $31.37 billion, a PE ratio of 25.48, a price-to-earnings-growth ratio of 3.30 and a beta of 1.26. The company has a debt-to-equity ratio of 1.81, a current ratio of 1.06 and a quick ratio of 1.06. The business has a 50 day simple moving average of $458.72 and a 200-day simple moving average of $495.50.

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

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on IT shares. Robert W. Baird lowered their target price on shares of Gartner from $605.00 to $557.00 and set an “outperform” rating on the stock in a research note on Friday, March 21st. Morgan Stanley reduced their target price on Gartner from $564.00 to $555.00 and set an “equal weight” rating for the company in a research note on Thursday, January 16th. Wells Fargo & Company reduced their price objective on shares of Gartner from $488.00 to $401.00 and set an “underweight” rating for the company in a research report on Wednesday, April 9th. StockNews.com downgraded shares of Gartner from a “buy” rating to a “hold” rating in a research report on Friday, March 21st. Finally, UBS Group cut their price objective on Gartner from $565.00 to $500.00 and set a “buy” rating for the company in a research note on Tuesday, March 25th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Gartner presently has an average rating of “Hold” and an average price target of $518.00.

Insider Activity

In related news, SVP John J. Rinello sold 90 shares of the firm’s stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $530.51, for a total transaction of $47,745.90. Following the completion of 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Eileen Serra sold 1,200 shares of the company’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $489.77, for a total transaction of $587,724.00. Following the completion of the transaction, the director now directly owns 1,627 shares in the company, valued at $796,855.79. The trade was a 42.45 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 3.60% of the company’s stock.

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.