Gateway Investment Advisers LLC Sells 54 Shares of ServiceNow, Inc. (NYSE:NOW)

Gateway Investment Advisers LLC cut its position in shares of ServiceNow, Inc. (NYSE:NOW) by 0.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 54,732 shares of the information technology services provider’s stock after selling 54 shares during the period. Gateway Investment Advisers LLC’s holdings in ServiceNow were worth $43,574,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Quarry LP bought a new position in ServiceNow during the fourth quarter worth about $27,000. Atala Financial Inc acquired a new stake in shares of ServiceNow in the fourth quarter valued at approximately $28,000. LFA Lugano Financial Advisors SA acquired a new stake in shares of ServiceNow in the fourth quarter valued at approximately $32,000. FPC Investment Advisory Inc. boosted its stake in shares of ServiceNow by 725.0% during the 4th quarter. FPC Investment Advisory Inc. now owns 33 shares of the information technology services provider’s stock worth $34,000 after acquiring an additional 29 shares during the period. Finally, Noble Wealth Management PBC acquired a new position in shares of ServiceNow during the 4th quarter worth approximately $34,000. 87.18% of the stock is owned by institutional investors.

Insider Activity

In other ServiceNow news, Director Deborah Black sold 598 shares of the company’s stock in a transaction dated Friday, April 25th. The stock was sold at an average price of $940.23, for a total value of $562,257.54. Following the sale, the director now owns 428 shares in the company, valued at approximately $402,418.44. The trade was a 58.28% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Anita M. Sands sold 248 shares of the firm’s stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $1,009.14, for a total value of $250,266.72. Following the transaction, the director now owns 10,643 shares of the company’s stock, valued at $10,740,277.02. This trade represents a 2.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 6,716 shares of company stock valued at $6,611,245. Insiders own 0.38% of the company’s stock.

Wall Street Analyst Weigh In

NOW has been the topic of a number of research analyst reports. Morgan Stanley increased their price target on ServiceNow from $881.00 to $950.00 and gave the company an “equal weight” rating in a research note on Thursday, April 24th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $1,048.00 price objective on shares of ServiceNow in a report on Thursday, April 24th. Piper Sandler dropped their price objective on shares of ServiceNow from $1,200.00 to $1,120.00 and set an “overweight” rating on the stock in a research report on Thursday, April 24th. Barclays set a $1,085.00 target price on shares of ServiceNow in a report on Wednesday, May 7th. Finally, Bank of America decreased their price target on shares of ServiceNow from $1,280.00 to $1,025.00 and set a “buy” rating on the stock in a research note on Tuesday, April 15th. One analyst has rated the stock with a sell rating, two have given a hold rating, thirty have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, ServiceNow presently has an average rating of “Moderate Buy” and an average target price of $1,062.50.

ServiceNow Price Performance

ServiceNow stock opened at $1,030.70 on Friday. The stock has a 50-day moving average price of $919.44 and a two-hundred day moving average price of $974.97. ServiceNow, Inc. has a 12 month low of $678.66 and a 12 month high of $1,198.09. The company has a market capitalization of $213.34 billion, a PE ratio of 150.91, a P/E/G ratio of 4.51 and a beta of 0.95. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.15.

ServiceNow (NYSE:NOW) last posted its earnings results on Wednesday, April 23rd. The information technology services provider reported $4.04 EPS for the quarter, topping the consensus estimate of $3.78 by $0.26. ServiceNow had a net margin of 12.97% and a return on equity of 17.11%. The business had revenue of $3.09 billion for the quarter, compared to the consensus estimate of $3.09 billion. During the same period last year, the company earned $3.41 EPS. The firm’s revenue was up 18.6% compared to the same quarter last year. Analysts expect that ServiceNow, Inc. will post 8.93 EPS for the current year.

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.