Gateway Investment Advisers LLC Has $58.08 Million Stock Holdings in ServiceNow, Inc. (NYSE:NOW)

Gateway Investment Advisers LLC trimmed its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 2.7% during the 4th quarter, Holdings Channel reports. The institutional investor owned 54,786 shares of the information technology services provider’s stock after selling 1,538 shares during the period. ServiceNow makes up approximately 0.6% of Gateway Investment Advisers LLC’s investment portfolio, making the stock its 29th largest position. Gateway Investment Advisers LLC’s holdings in ServiceNow were worth $58,080,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of NOW. Dimensional Fund Advisors LP lifted its position in shares of ServiceNow by 17.0% in the second quarter. Dimensional Fund Advisors LP now owns 274,844 shares of the information technology services provider’s stock worth $216,207,000 after purchasing an additional 39,984 shares in the last quarter. Sargent Investment Group LLC acquired a new position in ServiceNow in the 2nd quarter valued at approximately $205,000. Bradley Foster & Sargent Inc. CT purchased a new stake in ServiceNow in the 2nd quarter worth approximately $256,000. Wealth Alliance boosted its stake in shares of ServiceNow by 6.9% during the 2nd quarter. Wealth Alliance now owns 949 shares of the information technology services provider’s stock valued at $747,000 after buying an additional 61 shares during the period. Finally, Andar Capital Management HK Ltd grew its holdings in shares of ServiceNow by 35.0% during the 2nd quarter. Andar Capital Management HK Ltd now owns 5,400 shares of the information technology services provider’s stock valued at $4,248,000 after acquiring an additional 1,400 shares in the last quarter. 87.18% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

NOW has been the subject of a number of research reports. Royal Bank of Canada lifted their price objective on ServiceNow from $1,045.00 to $1,210.00 and gave the company an “outperform” rating in a research report on Friday, January 3rd. JPMorgan Chase & Co. boosted their price target on ServiceNow from $820.00 to $950.00 and gave the company an “overweight” rating in a research note on Thursday, October 24th. The Goldman Sachs Group increased their price objective on ServiceNow from $1,050.00 to $1,200.00 and gave the stock a “buy” rating in a report on Friday, January 10th. Stifel Nicolaus lifted their target price on shares of ServiceNow from $900.00 to $990.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. Finally, Sanford C. Bernstein increased their price target on shares of ServiceNow from $906.00 to $913.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. One analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-five have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, ServiceNow currently has a consensus rating of “Moderate Buy” and an average target price of $1,071.39.

Insider Activity at ServiceNow

In other ServiceNow news, CEO William R. Mcdermott sold 12,271 shares of the stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $997.67, for a total transaction of $12,242,408.57. Following the sale, the chief executive officer now owns 2,595 shares of the company’s stock, valued at $2,588,953.65. This represents a 82.54 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jacqueline P. Canney sold 76 shares of the firm’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $1,010.94, for a total transaction of $76,831.44. Following the completion of the sale, the insider now owns 3,027 shares of the company’s stock, valued at $3,060,115.38. The trade was a 2.45 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 20,276 shares of company stock valued at $20,535,115 in the last three months. Corporate insiders own 0.25% of the company’s stock.

ServiceNow Price Performance

Shares of NOW traded up $2.14 during trading hours on Thursday, hitting $1,056.27. The stock had a trading volume of 40,544 shares, compared to its average volume of 1,121,429. ServiceNow, Inc. has a 52 week low of $637.99 and a 52 week high of $1,157.90. The stock has a market capitalization of $217.59 billion, a price-to-earnings ratio of 164.27, a P/E/G ratio of 4.65 and a beta of 0.99. The company’s fifty day moving average is $1,066.34 and its two-hundred day moving average is $927.52. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.13 and a quick ratio of 1.13.

ServiceNow (NYSE:NOW) last issued its quarterly earnings data on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share for the quarter, topping the consensus estimate of $3.46 by $0.26. ServiceNow had a net margin of 12.77% and a return on equity of 16.03%. The firm had revenue of $2.80 billion for the quarter, compared to analysts’ expectations of $2.75 billion. During the same period in the prior year, the firm earned $1.21 earnings per share. The company’s quarterly revenue was up 22.2% compared to the same quarter last year. On average, analysts anticipate that ServiceNow, Inc. will post 7.07 EPS for the current year.

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.