ServiceNow, Inc. (NYSE:NOW) Shares Sold by Gamco Investors INC. ET AL

Gamco Investors INC. ET AL lowered its position in ServiceNow, Inc. (NYSE:NOW) by 0.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,389 shares of the information technology services provider’s stock after selling 51 shares during the quarter. Gamco Investors INC. ET AL’s holdings in ServiceNow were worth $5,713,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Norges Bank bought a new stake in ServiceNow during the 4th quarter valued at $2,603,360,000. Proficio Capital Partners LLC raised its stake in shares of ServiceNow by 154,255.3% during the fourth quarter. Proficio Capital Partners LLC now owns 666,815 shares of the information technology services provider’s stock valued at $667,000 after purchasing an additional 666,383 shares in the last quarter. Alphinity Investment Management Pty Ltd acquired a new stake in ServiceNow in the fourth quarter worth about $682,468,000. Raymond James Financial Inc. bought a new position in ServiceNow in the 4th quarter valued at about $393,868,000. Finally, Jennison Associates LLC raised its position in shares of ServiceNow by 17.4% during the 4th quarter. Jennison Associates LLC now owns 2,352,111 shares of the information technology services provider’s stock worth $2,493,520,000 after buying an additional 348,187 shares in the last quarter. Institutional investors own 87.18% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on NOW shares. JMP Securities reiterated a “market outperform” rating and set a $1,300.00 price objective on shares of ServiceNow in a research note on Thursday, January 30th. Wells Fargo & Company lowered their price target on ServiceNow from $1,250.00 to $1,100.00 and set an “overweight” rating on the stock in a research report on Monday. BMO Capital Markets cut their price objective on ServiceNow from $1,185.00 to $990.00 and set an “outperform” rating for the company in a report on Friday, April 4th. Royal Bank of Canada set a $986.00 target price on ServiceNow in a report on Tuesday, March 11th. Finally, The Goldman Sachs Group cut their price target on shares of ServiceNow from $1,200.00 to $1,050.00 and set a “buy” rating for the company in a report on Thursday, April 10th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and twenty-eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $1,057.17.

ServiceNow Stock Performance

Shares of NOW stock opened at $796.62 on Thursday. ServiceNow, Inc. has a fifty-two week low of $637.99 and a fifty-two week high of $1,198.09. The stock’s 50-day moving average is $862.65 and its two-hundred day moving average is $971.02. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.10 and a quick ratio of 1.10. The firm has a market cap of $164.90 billion, a P/E ratio of 116.64, a PEG ratio of 4.51 and a beta of 1.08.

ServiceNow (NYSE:NOW) last released its quarterly earnings data on Wednesday, January 29th. The information technology services provider reported $3.67 EPS for the quarter, hitting analysts’ consensus estimates of $3.67. ServiceNow had a return on equity of 17.11% and a net margin of 12.97%. Analysts predict that ServiceNow, Inc. will post 8.93 earnings per share for the current fiscal year.

ServiceNow declared that its Board of Directors has approved a stock repurchase program on Wednesday, January 29th that permits the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization permits the information technology services provider to buy up to 1.3% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.

Insider Activity

In other ServiceNow news, Vice Chairman Nicholas Tzitzon sold 2,945 shares of the firm’s stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $923.72, for a total transaction of $2,720,355.40. Following the transaction, the insider now directly owns 3,649 shares in the company, valued at $3,370,654.28. This trade represents a 44.66 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Gina Mastantuono sold 4,442 shares of the business’s stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $964.70, for a total value of $4,285,197.40. Following the completion of the sale, the chief financial officer now directly owns 11,126 shares of the company’s stock, valued at $10,733,252.20. This represents a 28.53 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 19,896 shares of company stock worth $19,568,441. 0.38% of the stock is owned by corporate insiders.

ServiceNow 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.