GF Fund Management CO. LTD. Sells 10,096 Shares of ServiceNow, Inc. (NYSE:NOW)

GF Fund Management CO. LTD. lowered its holdings in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 18.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 45,431 shares of the information technology services provider's stock after selling 10,096 shares during the quarter. ServiceNow comprises about 0.8% of GF Fund Management CO. LTD.'s investment portfolio, making the stock its 23rd biggest position. GF Fund Management CO. LTD.'s holdings in ServiceNow were worth $36,169,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of NOW. Brighton Jones LLC grew its position in ServiceNow by 1.1% in the 4th quarter. Brighton Jones LLC now owns 2,753 shares of the information technology services provider's stock worth $2,919,000 after purchasing an additional 30 shares during the last quarter. Proficio Capital Partners LLC boosted its position in ServiceNow by 154,255.3% in 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 buying an additional 666,383 shares in the last quarter. Exencial Wealth Advisors LLC raised its stake in shares of ServiceNow by 16.5% in the fourth quarter. Exencial Wealth Advisors LLC now owns 558 shares of the information technology services provider's stock worth $592,000 after acquiring an additional 79 shares during the last quarter. Keybank National Association OH raised its stake in shares of ServiceNow by 4.1% in the fourth quarter. Keybank National Association OH now owns 9,173 shares of the information technology services provider's stock worth $9,724,000 after acquiring an additional 358 shares during the last quarter. Finally, Souders Financial Advisors raised its stake in shares of ServiceNow by 7.9% during the fourth quarter. Souders Financial Advisors now owns 272 shares of the information technology services provider's stock worth $288,000 after buying an additional 20 shares during the last quarter. Institutional investors own 87.18% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on NOW shares. Mizuho upped their target price on shares of ServiceNow from $1,050.00 to $1,100.00 and gave the company an "outperform" rating in a research note on Thursday, June 12th. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $1,048.00 price target on shares of ServiceNow in a research report on Thursday, April 24th. Royal Bank Of Canada upped their price target on shares of ServiceNow from $1,060.00 to $1,100.00 and gave the stock an "outperform" rating in a research report on Tuesday, May 6th. Wall Street Zen lowered shares of ServiceNow from a "buy" rating to a "hold" rating in a research report on Saturday. Finally, Citigroup raised their price target on shares of ServiceNow from $1,128.00 to $1,160.00 and gave the stock a "buy" rating in a research report on Wednesday, May 7th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, thirty have assigned a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $1,068.23.

ServiceNow Trading Up 3.6%

Shares of NYSE NOW traded up $36.27 during midday trading on Friday, reaching $1,046.03. The stock had a trading volume of 1,205,886 shares, compared to its average volume of 1,486,285. The firm has a market cap of $216.51 billion, a price-to-earnings ratio of 142.12, a price-to-earnings-growth ratio of 4.80 and a beta of 0.94. ServiceNow, Inc. has a twelve month low of $678.66 and a twelve month high of $1,198.09. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.12 and a current ratio of 1.12. The company's 50 day moving average price is $1,003.94 and its 200 day moving average price is $963.64.

ServiceNow (NYSE:NOW - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The information technology services provider reported $4.04 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.78 by $0.26. The firm had revenue of $3.09 billion for the quarter, compared to the consensus estimate of $3.09 billion. ServiceNow had a net margin of 13.41% and a return on equity of 17.34%. The company's revenue for the quarter was up 18.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $3.41 EPS. As a group, sell-side analysts expect that ServiceNow, Inc. will post 8.93 EPS for the current year.

Insider Transactions at ServiceNow

In other news, CEO William R. Mcdermott sold 2,050 shares of ServiceNow stock in a transaction on Friday, May 30th. The shares were sold at an average price of $1,012.01, for a total value of $2,074,620.50. Following the completion of the sale, the chief executive officer owned 6,614 shares in the company, valued at $6,693,434.14. The trade was a 23.66% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Deborah Black sold 598 shares of ServiceNow stock in a transaction on Friday, April 25th. The shares were sold at an average price of $940.23, for a total transaction of $562,257.54. Following the completion of the sale, the director owned 428 shares of the company's stock, valued at $402,418.44. This represents a 58.28% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 6,716 shares of company stock worth $6,611,245. Company insiders own 0.38% of the company's stock.

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.