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GFG Capital LLC Sells 2,422 Shares of ServiceNow, Inc. (NYSE:NOW)

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GFG Capital LLC reduced its stake in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 16.9% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 11,904 shares of the information technology services provider's stock after selling 2,422 shares during the period. ServiceNow makes up approximately 2.8% of GFG Capital LLC's portfolio, making the stock its 10th biggest holding. GFG Capital LLC's holdings in ServiceNow were worth $9,477,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in NOW. Vanguard Group Inc. lifted its stake in ServiceNow by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 19,199,258 shares of the information technology services provider's stock valued at $20,353,517,000 after buying an additional 190,430 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in ServiceNow by 6.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 7,955,924 shares of the information technology services provider's stock valued at $8,434,235,000 after buying an additional 509,467 shares in the last quarter. FMR LLC lifted its stake in ServiceNow by 4.9% in the 4th quarter. FMR LLC now owns 5,878,900 shares of the information technology services provider's stock valued at $6,232,339,000 after buying an additional 272,506 shares in the last quarter. Geode Capital Management LLC lifted its stake in ServiceNow by 2.4% in the 4th quarter. Geode Capital Management LLC now owns 4,312,571 shares of the information technology services provider's stock valued at $4,560,890,000 after buying an additional 100,670 shares in the last quarter. Finally, GAMMA Investing LLC lifted its stake in ServiceNow by 87,501.3% in the 1st quarter. GAMMA Investing LLC now owns 2,689,361 shares of the information technology services provider's stock valued at $2,141,108,000 after buying an additional 2,686,291 shares in the last quarter. 87.18% of the stock is owned by institutional investors and hedge funds.

ServiceNow Price Performance

ServiceNow stock traded down $30.97 during mid-day trading on Friday, reaching $937.12. The company had a trading volume of 2,144,933 shares, compared to its average volume of 1,486,117. ServiceNow, Inc. has a 1 year low of $678.66 and a 1 year high of $1,198.09. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.12 and a quick ratio of 1.12. The company has a market capitalization of $193.97 billion, a P/E ratio of 127.33, a P/E/G ratio of 4.31 and a beta of 0.94. The stock's 50-day simple moving average is $1,008.08 and its 200-day simple moving average is $959.58.

ServiceNow (NYSE:NOW - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The information technology services provider reported $4.04 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.78 by $0.26. ServiceNow had a net margin of 13.41% and a return on equity of 17.34%. The company had revenue of $3.09 billion during the quarter, compared to analysts' expectations of $3.09 billion. During the same period last year, the company posted $3.41 earnings per share. The firm's quarterly revenue was up 18.6% compared to the same quarter last year. On average, equities analysts predict that ServiceNow, Inc. will post 8.93 EPS for the current year.

Insider Buying and Selling at ServiceNow

In other news, Vice Chairman Nicholas Tzitzon sold 1,171 shares of the firm's stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $1,020.00, for a total transaction of $1,194,420.00. Following the completion of the transaction, the insider directly owned 3,000 shares of the company's stock, valued at $3,060,000. This trade represents a 28.07% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Anita M. Sands sold 428 shares of the firm's stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $1,013.61, for a total transaction of $433,825.08. Following the transaction, the director directly owned 10,891 shares of the company's stock, valued at approximately $11,039,226.51. This trade represents a 3.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 6,955 shares of company stock worth $6,862,195. 0.38% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Wall Street Zen lowered shares of ServiceNow from a "buy" rating to a "hold" rating in a research note on Saturday, July 5th. Bank of America dropped their target price on shares of ServiceNow from $1,280.00 to $1,025.00 and set a "buy" rating for the company in a report on Tuesday, April 15th. Mizuho lifted their target price on shares of ServiceNow from $1,050.00 to $1,100.00 and gave the company an "outperform" rating in a report on Thursday, June 12th. Wells Fargo & Company lifted their target price on shares of ServiceNow from $1,100.00 to $1,150.00 and gave the company an "overweight" rating in a report on Thursday, April 24th. Finally, DA Davidson initiated coverage on shares of ServiceNow in a report on Wednesday, June 25th. They issued a "buy" rating and a $1,150.00 target price for the company. One investment analyst has rated the stock with a sell rating, three have given a hold rating, thirty have given a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $1,068.23.

Get Our Latest Stock Analysis on ServiceNow

ServiceNow Profile

(Free Report)

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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Institutional Ownership by Quarter for ServiceNow (NYSE:NOW)

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