ServiceNow, Inc. (NYSE:NOW) Shares Sold by GAM Holding AG

GAM Holding AG lowered its holdings in ServiceNow, Inc. (NYSE:NOW) by 8.9% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 11,285 shares of the information technology services provider’s stock after selling 1,108 shares during the period. GAM Holding AG’s holdings in ServiceNow were worth $10,093,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. Segment Wealth Management LLC grew its holdings in shares of ServiceNow by 39.3% in the third quarter. Segment Wealth Management LLC now owns 709 shares of the information technology services provider’s stock valued at $634,000 after purchasing an additional 200 shares in the last quarter. Waldron Private Wealth LLC increased its position in shares of ServiceNow by 1.3% in the 3rd quarter. Waldron Private Wealth LLC now owns 3,820 shares of the information technology services provider’s stock valued at $3,417,000 after purchasing an additional 49 shares during the last quarter. Eastern Bank increased its position in shares of ServiceNow by 108.1% in the 3rd quarter. Eastern Bank now owns 54,421 shares of the information technology services provider’s stock valued at $48,674,000 after purchasing an additional 28,272 shares during the last quarter. Sierra Capital LLC increased its position in shares of ServiceNow by 251.5% in the 3rd quarter. Sierra Capital LLC now owns 1,828 shares of the information technology services provider’s stock valued at $1,635,000 after purchasing an additional 1,308 shares during the last quarter. Finally, Signaturefd LLC increased its position in shares of ServiceNow by 11.7% in the 3rd quarter. Signaturefd LLC now owns 3,950 shares of the information technology services provider’s stock valued at $3,533,000 after purchasing an additional 414 shares during the last quarter. Institutional investors and hedge funds own 87.18% of the company’s stock.

ServiceNow Stock Down 0.0 %

NOW stock opened at $917.92 on Wednesday. ServiceNow, Inc. has a one year low of $527.24 and a one year high of $949.59. The stock has a market capitalization of $188.17 billion, a PE ratio of 98.17, a price-to-earnings-growth ratio of 5.63 and a beta of 0.99. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.12 and a current ratio of 1.12. The company has a fifty day moving average of $878.83 and a 200-day moving average of $794.29.

ServiceNow (NYSE:NOW) last released its earnings results on Wednesday, July 24th. The information technology services provider reported $3.13 EPS for the quarter, topping the consensus estimate of $2.85 by $0.28. ServiceNow had a net margin of 11.51% and a return on equity of 14.52%. The company had revenue of $2.63 billion during the quarter, compared to analysts’ expectations of $2.61 billion. During the same quarter last year, the business earned $0.77 EPS. The business’s revenue was up 22.2% on a year-over-year basis. As a group, analysts expect that ServiceNow, Inc. will post 6.78 EPS for the current year.

Insider Transactions at ServiceNow

In other news, insider Jacqueline P. Canney sold 353 shares of the stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $924.96, for a total value of $326,510.88. Following the completion of the transaction, the insider now owns 3,027 shares in the company, valued at $2,799,853.92. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, CFO Gina Mastantuono sold 1,800 shares of the stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $825.00, for a total value of $1,485,000.00. Following the completion of the transaction, the chief financial officer now owns 11,490 shares in the company, valued at $9,479,250. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Jacqueline P. Canney sold 353 shares of the stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $924.96, for a total transaction of $326,510.88. Following the completion of the transaction, the insider now owns 3,027 shares of the company’s stock, valued at $2,799,853.92. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 7,267 shares of company stock worth $5,935,447. Company insiders own 0.25% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. Stifel Nicolaus increased their price objective on shares of ServiceNow from $820.00 to $900.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. Oppenheimer increased their price objective on shares of ServiceNow from $825.00 to $1,020.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. Barclays increased their price objective on shares of ServiceNow from $890.00 to $980.00 and gave the company an “overweight” rating in a research report on Friday, October 11th. Canaccord Genuity Group reissued a “buy” rating and issued a $835.00 price objective on shares of ServiceNow in a research report on Tuesday, July 23rd. Finally, Piper Sandler upped their target price on shares of ServiceNow from $830.00 to $850.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. One analyst has rated the stock with a sell rating, three have given a hold rating and twenty-four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, ServiceNow currently has an average rating of “Moderate Buy” and an average price target of $923.00.

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.