Gateway Investment Advisers LLC Decreases Stake in ServiceNow, Inc. (NYSE:NOW)

Gateway Investment Advisers LLC cut its position in ServiceNow, Inc. (NYSE:NOW - Free Report) by 2.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 54,786 shares of the information technology services provider's stock after selling 1,538 shares during the quarter. ServiceNow comprises 0.6% of Gateway Investment Advisers LLC's investment portfolio, making the stock its 29th biggest position. Gateway Investment Advisers LLC's holdings in ServiceNow were worth $58,080,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the company. Truvestments Capital LLC purchased a new position in ServiceNow during the third quarter worth about $30,000. DT Investment Partners LLC boosted its position in shares of ServiceNow by 77.3% during the 3rd quarter. DT Investment Partners LLC now owns 39 shares of the information technology services provider's stock valued at $35,000 after acquiring an additional 17 shares during the last quarter. Oakworth Capital Inc. boosted its position in shares of ServiceNow by 46.7% during the 3rd quarter. Oakworth Capital Inc. now owns 44 shares of the information technology services provider's stock valued at $39,000 after acquiring an additional 14 shares during the last quarter. Semmax Financial Advisors Inc. bought a new position in shares of ServiceNow in the second quarter worth approximately $39,000. Finally, Dunhill Financial LLC raised its stake in ServiceNow by 70.0% in the third quarter. Dunhill Financial LLC now owns 51 shares of the information technology services provider's stock valued at $46,000 after purchasing an additional 21 shares in the last quarter. 87.18% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have commented on NOW shares. Stifel Nicolaus boosted their price target on shares of ServiceNow from $900.00 to $990.00 and gave the stock a "buy" rating in a research note on Thursday, October 24th. BMO Capital Markets upped their target price on shares of ServiceNow from $860.00 to $1,025.00 and gave the stock an "outperform" rating in a research report on Thursday, October 10th. Sanford C. Bernstein raised their price target on ServiceNow from $906.00 to $913.00 and gave the company an "outperform" rating in a research report on Thursday, October 24th. Piper Sandler upped their price objective on ServiceNow from $1,000.00 to $1,200.00 and gave the stock an "overweight" rating in a report on Monday, January 6th. Finally, Citigroup raised their price objective on ServiceNow from $1,068.00 to $1,071.00 and gave the company a "buy" rating in a report on Friday, October 25th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-five have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $1,071.39.

Insider Activity

In other news, Director Paul Edward Chamberlain sold 300 shares of ServiceNow stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $1,047.95, for a total transaction of $314,385.00. Following the completion of the transaction, the director now directly owns 10,467 shares in the company, valued at approximately $10,968,892.65. This trade represents a 2.79 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Nicholas Tzitzon sold 313 shares of the business's stock in a transaction on Monday, November 25th. The stock was sold at an average price of $1,064.60, for a total value of $333,219.80. Following the completion of the sale, the insider now directly owns 3,649 shares in the company, valued at $3,884,725.40. This trade represents a 7.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 20,276 shares of company stock worth $20,535,115 in the last quarter. 0.25% of the stock is owned by company insiders.

ServiceNow Trading Up 0.3 %

NYSE NOW traded up $3.07 during trading on Thursday, hitting $1,057.20. The company had a trading volume of 632,087 shares, compared to its average volume of 1,181,517. The company's fifty day moving average is $1,067.55 and its 200-day moving average is $928.41. ServiceNow, Inc. has a one year low of $637.99 and a one year high of $1,157.90. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.16. The company has a market cap of $217.78 billion, a price-to-earnings ratio of 164.42, a price-to-earnings-growth ratio of 4.65 and a beta of 0.99.

ServiceNow (NYSE:NOW - Get Free Report) last released its quarterly earnings results on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.46 by $0.26. The company had revenue of $2.80 billion during the quarter, compared to the consensus estimate of $2.75 billion. ServiceNow had a net margin of 12.77% and a return on equity of 16.03%. ServiceNow's revenue was up 22.2% on a year-over-year basis. During the same period in the prior year, the firm earned $1.21 earnings per share. On average, sell-side analysts predict that ServiceNow, Inc. will post 7.07 earnings per share for the current year.

ServiceNow Company Profile

ServiceNow, Inc provides end to-end intelligent workflow automation platform solutions for digital businesses in the North America, Europe, the Middle East and Africa, Asia Pacific, and internationally. The company operates the Now platform for end-to-end digital transformation, artificial intelligence, machine learning, robotic process automation, process mining, performance analytics, and collaboration and development tools.