Gradient Investments LLC Sells 1,138 Shares of ServiceNow, Inc. (NYSE:NOW)

Gradient Investments LLC decreased its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 5.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 20,088 shares of the information technology services provider’s stock after selling 1,138 shares during the period. Gradient Investments LLC’s holdings in ServiceNow were worth $21,296,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Harel Insurance Investments & Financial Services Ltd. boosted its stake in shares of ServiceNow by 29,298.0% in the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 29,104 shares of the information technology services provider’s stock worth $30,854,000 after buying an additional 29,005 shares during the last quarter. Berbice Capital Management LLC bought a new stake in shares of ServiceNow during the 4th quarter valued at about $4,150,000. Impact Partnership Wealth LLC purchased a new stake in shares of ServiceNow during the 4th quarter valued at about $241,000. Motive Wealth Advisors bought a new position in shares of ServiceNow in the 4th quarter worth approximately $223,000. Finally, MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH boosted its holdings in shares of ServiceNow by 4.8% in the fourth quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 3,572 shares of the information technology services provider’s stock worth $3,814,000 after buying an additional 163 shares during the last quarter. Hedge funds and other institutional investors own 87.18% of the company’s stock.

ServiceNow Stock Performance

ServiceNow stock opened at $1,124.64 on Friday. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.16. ServiceNow, Inc. has a twelve month low of $637.99 and a twelve month high of $1,157.90. The company’s 50-day moving average price is $1,074.80 and its 200-day moving average price is $939.98. The company has a market cap of $231.68 billion, a PE ratio of 174.91, a price-to-earnings-growth ratio of 5.11 and a beta of 0.99.

ServiceNow (NYSE:NOW) last issued its quarterly earnings data on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.46 by $0.26. The business had revenue of $2.80 billion for the quarter, compared to the consensus estimate of $2.75 billion. ServiceNow had a return on equity of 16.03% and a net margin of 12.77%. The company’s quarterly revenue was up 22.2% compared to the same quarter last year. During the same period in the prior year, the business posted $1.21 earnings per share. On average, equities research analysts forecast that ServiceNow, Inc. will post 7.06 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms have weighed in on NOW. Wells Fargo & Company increased their price target on shares of ServiceNow from $1,150.00 to $1,250.00 and gave the stock an “overweight” rating in a research report on Thursday, December 5th. UBS Group lifted their target price on ServiceNow from $900.00 to $1,055.00 and gave the company a “buy” rating in a research report on Tuesday, October 8th. Citigroup upped their price target on ServiceNow from $1,068.00 to $1,071.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Mizuho lifted their price objective on ServiceNow from $1,070.00 to $1,210.00 and gave the company an “outperform” rating in a research report on Friday, December 13th. Finally, Evercore ISI increased their target price on shares of ServiceNow from $950.00 to $1,000.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. One analyst has rated the stock with a sell rating, three have given a hold rating, twenty-five have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $1,093.34.

Insider Activity at ServiceNow

In related news, CEO William R. Mcdermott sold 12,271 shares of the stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $997.67, for a total value of $12,242,408.57. Following the sale, the chief executive officer now directly owns 2,595 shares of the company’s stock, valued at $2,588,953.65. This represents a 82.54 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Jeffrey A. Miller sold 2,879 shares of the stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $1,019.12, for a total value of $2,934,046.48. Following the completion of the sale, the director now owns 42,920 shares in the company, valued at approximately $43,740,630.40. The trade was a 6.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 20,731 shares of company stock worth $21,016,751. Company insiders own 0.25% of the company’s stock.

About ServiceNow

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.