GAM Holding AG Decreases Stock Position in ServiceNow, Inc. (NYSE:NOW)

GAM Holding AG lowered its stake in ServiceNow, Inc. (NYSE:NOW) by 8.9% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 11,285 shares of the information technology services provider’s stock after selling 1,108 shares during the quarter. GAM Holding AG’s holdings in ServiceNow were worth $10,093,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of NOW. First Affirmative Financial Network increased its holdings in shares of ServiceNow by 1.4% in the 3rd quarter. First Affirmative Financial Network now owns 895 shares of the information technology services provider’s stock worth $801,000 after buying an additional 12 shares during the last quarter. Morling Financial Advisors LLC grew its holdings in ServiceNow by 2.5% during the 2nd quarter. Morling Financial Advisors LLC now owns 527 shares of the information technology services provider’s stock valued at $415,000 after purchasing an additional 13 shares during the last quarter. CX Institutional grew its holdings in ServiceNow by 1.2% during the 3rd quarter. CX Institutional now owns 1,089 shares of the information technology services provider’s stock valued at $974,000 after purchasing an additional 13 shares during the last quarter. Optas LLC grew its holdings in ServiceNow by 1.7% during the 1st quarter. Optas LLC now owns 815 shares of the information technology services provider’s stock valued at $621,000 after purchasing an additional 14 shares during the last quarter. Finally, Cedar Wealth Management LLC grew its holdings in ServiceNow by 5.5% during the 1st quarter. Cedar Wealth Management LLC now owns 268 shares of the information technology services provider’s stock valued at $204,000 after purchasing an additional 14 shares during the last quarter. Hedge funds and other institutional investors own 87.18% of the company’s stock.

Insiders Place Their Bets

In other ServiceNow news, General Counsel Russell S. Elmer sold 1,937 shares of ServiceNow stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $779.81, for a total transaction of $1,510,491.97. Following the transaction, the general counsel now directly owns 6,736 shares of the company’s stock, valued at $5,252,800.16. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other ServiceNow news, General Counsel Russell S. Elmer sold 1,937 shares of ServiceNow stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $779.81, for a total transaction of $1,510,491.97. Following the transaction, the general counsel now directly owns 6,736 shares of the company’s stock, valued at $5,252,800.16. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jacqueline P. Canney sold 353 shares of ServiceNow 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 sale, the insider now owns 3,027 shares of the company’s stock, valued at approximately $2,799,853.92. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 7,267 shares of company stock valued at $5,935,447 over the last ninety days. Company insiders own 0.25% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Oppenheimer upped their price target on shares of ServiceNow from $825.00 to $1,020.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. Wells Fargo & Company upped their target price on shares of ServiceNow from $935.00 to $1,025.00 and gave the stock an “overweight” rating in a research note on Monday, October 7th. Canaccord Genuity Group restated a “buy” rating and issued a $835.00 target price on shares of ServiceNow in a research note on Tuesday, July 23rd. Evercore ISI upped their target price on shares of ServiceNow from $850.00 to $950.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 9th. Finally, Jefferies Financial Group upped their target price on shares of ServiceNow from $900.00 to $1,100.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-four have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $923.00.

ServiceNow Stock Performance

NYSE:NOW opened at $917.92 on Wednesday. The company’s 50-day moving average price is $878.83 and its 200-day moving average price is $794.29. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.17. The company has a market cap of $188.17 billion, a P/E ratio of 98.17, a P/E/G ratio of 5.63 and a beta of 0.99. ServiceNow, Inc. has a twelve month low of $527.24 and a twelve month high of $949.59.

ServiceNow (NYSE:NOW) last issued its earnings results on Wednesday, July 24th. The information technology services provider reported $3.13 EPS for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $2.61 billion. During the same period in the previous year, the firm earned $0.77 earnings per share. ServiceNow’s quarterly revenue was up 22.2% compared to the same quarter last year. On average, sell-side analysts forecast that ServiceNow, Inc. will post 6.78 earnings per share for the current fiscal year.

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.