Gamco Investors INC. ET AL Sells 194 Shares of ServiceNow, Inc. (NYSE:NOW)

Gamco Investors INC. ET AL trimmed its position in ServiceNow, Inc. (NYSE:NOWGet Rating) by 2.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,141 shares of the information technology services provider’s stock after selling 194 shares during the quarter. Gamco Investors INC. ET AL’s holdings in ServiceNow were worth $5,284,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Morgan Stanley boosted its position in shares of ServiceNow by 1.2% during the second quarter. Morgan Stanley now owns 7,277,395 shares of the information technology services provider’s stock valued at $3,999,292,000 after buying an additional 86,441 shares during the period. Geode Capital Management LLC boosted its holdings in shares of ServiceNow by 2.5% in the third quarter. Geode Capital Management LLC now owns 2,976,246 shares of the information technology services provider’s stock valued at $1,846,169,000 after purchasing an additional 72,158 shares during the period. Brown Advisory Inc. lifted its holdings in ServiceNow by 16.6% during the fourth quarter. Brown Advisory Inc. now owns 2,480,958 shares of the information technology services provider’s stock worth $1,610,414,000 after buying an additional 352,766 shares during the period. Northern Trust Corp lifted its holdings in ServiceNow by 0.3% during the fourth quarter. Northern Trust Corp now owns 2,245,682 shares of the information technology services provider’s stock worth $1,457,695,000 after buying an additional 7,130 shares during the period. Finally, TD Asset Management Inc. lifted its holdings in ServiceNow by 84.7% during the fourth quarter. TD Asset Management Inc. now owns 1,207,201 shares of the information technology services provider’s stock worth $783,606,000 after buying an additional 553,517 shares during the period. 87.20% of the stock is currently owned by institutional investors.

A number of brokerages have recently issued reports on NOW. Deutsche Bank Aktiengesellschaft reduced their price target on ServiceNow from $700.00 to $680.00 in a research report on Thursday, April 28th. Wells Fargo & Company began coverage on ServiceNow in a research report on Wednesday, May 18th. They set an “overweight” rating and a $600.00 price target on the stock. Barclays cut their price target on ServiceNow from $652.00 to $613.00 in a research report on Thursday, April 28th. Cowen lowered their target price on shares of ServiceNow from $725.00 to $695.00 in a research note on Thursday, April 28th. Finally, Canaccord Genuity Group lowered their target price on shares of ServiceNow from $715.00 to $615.00 in a research note on Thursday, January 27th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and twenty-seven have given a buy rating to the stock. According to MarketBeat.com, ServiceNow currently has an average rating of “Buy” and a consensus target price of $658.00.

In related news, COO Chirantan Jitendra Desai sold 5,000 shares of the business’s stock in a transaction dated Monday, February 28th. The shares were sold at an average price of $575.44, for a total transaction of $2,877,200.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Frederic B. Luddy sold 6,600 shares of the company’s stock in a transaction dated Tuesday, April 5th. The shares were sold at an average price of $556.81, for a total transaction of $3,674,946.00. Following the completion of the sale, the director now directly owns 707 shares in the company, valued at approximately $393,664.67. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 18,428 shares of company stock valued at $10,195,278. Corporate insiders own 0.35% of the company’s stock.

Shares of NOW stock opened at $433.03 on Monday. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.37. ServiceNow, Inc. has a 52 week low of $406.47 and a 52 week high of $707.60. The stock has a market capitalization of $86.81 billion, a PE ratio of 393.66, a P/E/G ratio of 8.35 and a beta of 1.09. The firm has a 50 day moving average of $506.64 and a two-hundred day moving average of $567.14.

ServiceNow (NYSE:NOWGet Rating) last issued its quarterly earnings results on Wednesday, April 27th. The information technology services provider reported $1.73 EPS for the quarter, beating the consensus estimate of $1.70 by $0.03. The company had revenue of $1.72 billion during the quarter, compared to analysts’ expectations of $1.70 billion. ServiceNow had a net margin of 3.56% and a return on equity of 8.66%. The firm’s revenue was up 26.6% compared to the same quarter last year. During the same quarter last year, the company posted $0.50 EPS. Analysts expect that ServiceNow, Inc. will post 1.8 EPS for the current fiscal year.

ServiceNow Company Profile (Get Rating)

ServiceNow, Inc provides enterprise cloud computing solutions that defines, structures, consolidates, manages, and automates services for enterprises worldwide. It operates the Now platform for workflow automation, artificial intelligence, machine learning, robotic process automation, performance analytics, electronic service catalogs and portals, configuration management systems, data benchmarking, encryption, and collaboration and development tools.

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Institutional Ownership by Quarter for ServiceNow (NYSE:NOW)

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