Gateway Investment Advisers LLC Lowers Stock Position in ServiceNow, Inc. (NYSE:NOW)

Gateway Investment Advisers LLC trimmed its stake in ServiceNow, Inc. (NYSE:NOW) by 2.7% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 54,786 shares of the information technology services provider’s stock after selling 1,538 shares during the period. ServiceNow comprises 0.6% of Gateway Investment Advisers LLC’s investment portfolio, making the stock its 29th biggest holding. Gateway Investment Advisers LLC’s holdings in ServiceNow were worth $58,080,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in NOW. Truvestments Capital LLC purchased a new stake in shares of ServiceNow during the third quarter worth $30,000. DT Investment Partners LLC grew its stake in ServiceNow by 77.3% during the 3rd quarter. DT Investment Partners LLC now owns 39 shares of the information technology services provider’s stock worth $35,000 after purchasing an additional 17 shares in the last quarter. Semmax Financial Advisors Inc. purchased a new stake in ServiceNow during the 2nd quarter worth about $39,000. Oakworth Capital Inc. raised its position in ServiceNow by 46.7% in the 3rd quarter. Oakworth Capital Inc. now owns 44 shares of the information technology services provider’s stock valued at $39,000 after purchasing an additional 14 shares in the last quarter. Finally, Dunhill Financial LLC boosted its stake in shares of ServiceNow by 70.0% in the 3rd quarter. Dunhill Financial LLC now owns 51 shares of the information technology services provider’s stock valued at $46,000 after buying an additional 21 shares during the period. 87.18% of the stock is currently owned by institutional investors and hedge funds.

ServiceNow Price Performance

NOW stock traded up $2.14 during trading hours on Thursday, hitting $1,056.27. 40,544 shares of the stock traded hands, compared to its average volume of 1,121,429. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.16. The stock has a 50-day simple moving average of $1,066.34 and a 200 day simple moving average of $927.52. ServiceNow, Inc. has a one year low of $637.99 and a one year high of $1,157.90. The company has a market cap of $217.59 billion, a P/E ratio of 164.27, a P/E/G ratio of 4.65 and a beta of 0.99.

ServiceNow (NYSE:NOW) last announced its quarterly earnings data on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share (EPS) 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 company had revenue of $2.80 billion for the quarter, compared to analysts’ expectations of $2.75 billion. During the same quarter in the previous year, the company posted $1.21 EPS. The business’s revenue was up 22.2% compared to the same quarter last year. Equities analysts forecast that ServiceNow, Inc. will post 7.07 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages have recently weighed in on NOW. StockNews.com upgraded shares of ServiceNow from a “hold” rating to a “buy” rating in a report on Tuesday, November 12th. Sanford C. Bernstein raised their price target on ServiceNow from $906.00 to $913.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Truist Financial lifted their price target on ServiceNow from $900.00 to $1,100.00 and gave the stock a “hold” rating in a report on Thursday, December 12th. Morgan Stanley lowered ServiceNow from an “overweight” rating to an “equal weight” rating and raised their target price for the stock from $900.00 to $960.00 in a research report on Monday, October 21st. Finally, Stifel Nicolaus increased their price target 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. One equities research 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 stock. According to MarketBeat, ServiceNow currently has a consensus rating of “Moderate Buy” and an average price target of $1,071.39.

Insider Buying and Selling at ServiceNow

In related news, Director Anita M. Sands sold 2,229 shares of ServiceNow stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $1,064.60, for a total value of $2,372,993.40. Following the transaction, the director now owns 11,000 shares of the company’s stock, valued at approximately $11,710,600. This trade represents a 16.85 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Paul Edward Chamberlain sold 300 shares of the company’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $1,047.95, for a total transaction of $314,385.00. Following the sale, the director now directly owns 10,467 shares of the company’s stock, valued at $10,968,892.65. This represents a 2.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 20,276 shares of company stock valued at $20,535,115. Corporate insiders own 0.25% of the company’s stock.

About ServiceNow

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.