Gateway Investment Advisers LLC Sells 692 Shares of ServiceNow, Inc. $NOW

Gateway Investment Advisers LLC cut its position in ServiceNow, Inc. (NYSE:NOW - Free Report) by 1.3% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 54,040 shares of the information technology services provider's stock after selling 692 shares during the period. Gateway Investment Advisers LLC's holdings in ServiceNow were worth $55,557,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Bogart Wealth LLC increased its stake in ServiceNow by 113.3% in the 1st quarter. Bogart Wealth LLC now owns 32 shares of the information technology services provider's stock worth $25,000 after buying an additional 17 shares during the period. Graybill Wealth Management LTD. acquired a new stake in ServiceNow in the 1st quarter worth approximately $26,000. WASHINGTON TRUST Co boosted its stake in ServiceNow by 620.0% in the 1st quarter. WASHINGTON TRUST Co now owns 36 shares of the information technology services provider's stock worth $29,000 after purchasing an additional 31 shares in the last quarter. Dagco Inc. acquired a new stake in ServiceNow during the 1st quarter valued at approximately $33,000. Finally, Heck Capital Advisors LLC purchased a new position in ServiceNow during the fourth quarter valued at $37,000. Institutional investors own 87.18% of the company's stock.

ServiceNow Stock Performance

Shares of NYSE:NOW opened at $932.28 on Wednesday. The company has a market capitalization of $193.91 billion, a price-to-earnings ratio of 117.42, a PEG ratio of 4.27 and a beta of 0.91. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.14. ServiceNow, Inc. has a 12 month low of $678.66 and a 12 month high of $1,198.09. The firm's 50-day moving average is $923.80 and its 200 day moving average is $922.54.

ServiceNow (NYSE:NOW - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The information technology services provider reported $4.09 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.57 by $0.52. ServiceNow had a net margin of 13.78% and a return on equity of 18.04%. The business had revenue of $3.22 billion for the quarter, compared to analyst estimates of $3.12 billion. During the same quarter in the prior year, the business posted $3.13 EPS. ServiceNow's revenue for the quarter was up 22.4% compared to the same quarter last year. Research analysts predict that ServiceNow, Inc. will post 8.93 EPS for the current year.

Analyst Ratings Changes

NOW has been the subject of several research analyst reports. Wells Fargo & Company increased their target price on shares of ServiceNow from $1,150.00 to $1,225.00 and gave the stock an "overweight" rating in a research note on Thursday, July 24th. FBN Securities upgraded shares of ServiceNow to a "strong-buy" rating in a research report on Wednesday, June 11th. Piper Sandler lifted their price target on ServiceNow from $1,120.00 to $1,150.00 and gave the stock an "overweight" rating in a research note on Thursday, July 24th. Bank of America lifted their price target on ServiceNow from $1,110.00 to $1,200.00 and gave the company a "buy" rating in a report on Thursday, July 24th. Finally, Citigroup upped their price target on ServiceNow from $1,160.00 to $1,234.00 and gave the stock a "buy" rating in a report on Thursday, July 24th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $1,115.20.

Insider Buying and Selling

In other ServiceNow news, Director Anita M. Sands sold 1,097 shares of the firm's stock in a transaction dated Friday, August 29th. The shares were sold at an average price of $915.11, for a total transaction of $1,003,875.67. Following the completion of the transaction, the director directly owned 9,307 shares in the company, valued at approximately $8,516,928.77. This trade represents a 10.54% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Vice Chairman Nicholas Tzitzon sold 1,719 shares of the firm's stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $866.45, for a total transaction of $1,489,427.55. Following the sale, the insider directly owned 3,000 shares in the company, valued at $2,599,350. This represents a 36.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 18,976 shares of company stock worth $17,049,775. Corporate insiders own 0.38% of the company's stock.

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.

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