Gamco Investors INC. ET AL Has $4.29 Million Position in ServiceNow, Inc. (NYSE:NOW)

Gamco Investors INC. ET AL lowered its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 64.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,625 shares of the information technology services provider’s stock after selling 10,280 shares during the quarter. Gamco Investors INC. ET AL’s holdings in ServiceNow were worth $4,288,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Federated Hermes Inc. boosted its holdings in shares of ServiceNow by 19.8% in the 4th quarter. Federated Hermes Inc. now owns 300,122 shares of the information technology services provider’s stock valued at $212,033,000 after purchasing an additional 49,631 shares in the last quarter. M&G Plc acquired a new stake in shares of ServiceNow in the 1st quarter valued at $11,030,000. Smithfield Trust Co boosted its holdings in shares of ServiceNow by 36.4% in the 4th quarter. Smithfield Trust Co now owns 981 shares of the information technology services provider’s stock valued at $691,000 after purchasing an additional 262 shares in the last quarter. Dohj LLC acquired a new stake in shares of ServiceNow during the 4th quarter valued at $913,000. Finally, New Mexico Educational Retirement Board boosted its holdings in shares of ServiceNow by 9.4% during the 1st quarter. New Mexico Educational Retirement Board now owns 11,650 shares of the information technology services provider’s stock valued at $8,882,000 after acquiring an additional 1,000 shares in the last quarter. Institutional investors and hedge funds own 87.18% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on NOW shares. Jefferies Financial Group raised their price objective on ServiceNow from $885.00 to $900.00 and gave the company a “buy” rating in a report on Wednesday, April 10th. Morgan Stanley raised their price objective on ServiceNow from $814.00 to $830.00 and gave the company an “overweight” rating in a report on Thursday, April 25th. Canaccord Genuity Group reissued a “buy” rating and set a $835.00 price objective on shares of ServiceNow in a report on Tuesday, July 23rd. Wells Fargo & Company raised their price objective on ServiceNow from $920.00 to $935.00 and gave the company an “overweight” rating in a report on Thursday. Finally, JPMorgan Chase & Co. raised their price objective on ServiceNow from $780.00 to $820.00 and gave the company an “overweight” rating in a report on Thursday. One research analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-six have assigned a buy rating to the stock. According to MarketBeat.com, ServiceNow presently has an average rating of “Moderate Buy” and an average target price of $842.22.

ServiceNow Stock Down 0.1 %

ServiceNow stock traded down $1.18 during midday trading on Friday, reaching $827.61. The stock had a trading volume of 2,410,057 shares, compared to its average volume of 1,525,403. ServiceNow, Inc. has a 12 month low of $527.24 and a 12 month high of $850.33. The company has a market capitalization of $169.66 billion, a P/E ratio of 88.51, a PEG ratio of 5.19 and a beta of 0.99. The company has a fifty day moving average price of $744.03 and a two-hundred day moving average price of $751.29. The company has a current ratio of 1.12, a quick ratio of 1.05 and a debt-to-equity ratio of 0.17.

ServiceNow (NYSE:NOW) last issued its earnings results on Wednesday, July 24th. The information technology services provider reported $3.13 EPS for the quarter, beating analysts’ consensus estimates of $2.85 by $0.28. ServiceNow had a return on equity of 14.52% and a net margin of 11.51%. The business had revenue of $2.63 billion during the quarter, compared to analyst estimates of $2.61 billion. During the same period in the previous year, the company posted $0.77 EPS. The firm’s revenue was up 22.2% compared to the same quarter last year. As a group, equities analysts expect that ServiceNow, Inc. will post 6.5 EPS for the current fiscal year.

Insider Activity at ServiceNow

In related news, insider Paul John Smith sold 190 shares of the business’s stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $718.78, for a total value of $136,568.20. Following the completion of the sale, the insider now directly owns 3,010 shares of the company’s stock, valued at approximately $2,163,527.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other ServiceNow news, Director Frederic B. Luddy sold 598 shares of ServiceNow stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $741.92, for a total transaction of $443,668.16. Following the completion of the transaction, the director now owns 428 shares in the company, valued at approximately $317,541.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Paul John Smith sold 190 shares of ServiceNow stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $718.78, for a total value of $136,568.20. Following the transaction, the insider now owns 3,010 shares of the company’s stock, valued at approximately $2,163,527.80. The disclosure for this sale can be found here. Insiders sold 5,530 shares of company stock valued at $3,997,012 in the last three months. Corporate insiders own 0.25% of the company’s stock.

ServiceNow 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.