Gladstone Institutional Advisory LLC Reduces Stock Holdings in ServiceNow, Inc. (NYSE:NOW)

Gladstone Institutional Advisory LLC lowered its position in ServiceNow, Inc. (NYSE:NOW) by 5.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 697 shares of the information technology services provider’s stock after selling 44 shares during the quarter. Gladstone Institutional Advisory LLC’s holdings in ServiceNow were worth $492,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of ServiceNow by 0.7% during the third quarter. Vanguard Group Inc. now owns 17,753,781 shares of the information technology services provider’s stock valued at $9,923,653,000 after acquiring an additional 122,577 shares during the last quarter. FMR LLC boosted its stake in shares of ServiceNow by 17.3% during the third quarter. FMR LLC now owns 4,036,796 shares of the information technology services provider’s stock valued at $2,256,407,000 after acquiring an additional 595,697 shares during the last quarter. Jennison Associates LLC boosted its stake in shares of ServiceNow by 2.2% during the fourth quarter. Jennison Associates LLC now owns 2,521,190 shares of the information technology services provider’s stock valued at $1,781,195,000 after acquiring an additional 53,719 shares during the last quarter. Norges Bank acquired a new stake in shares of ServiceNow during the fourth quarter valued at $1,648,259,000. Finally, Massachusetts Financial Services Co. MA boosted its stake in shares of ServiceNow by 3.7% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,281,748 shares of the information technology services provider’s stock valued at $1,612,032,000 after acquiring an additional 81,028 shares during the last quarter. Hedge funds and other institutional investors own 87.18% of the company’s stock.

Analyst Ratings Changes

A number of analysts have issued reports on the company. Truist Financial raised their price target on ServiceNow from $700.00 to $750.00 and gave the stock a “hold” rating in a research note on Thursday, January 25th. William Blair reissued an “outperform” rating on shares of ServiceNow in a research note on Tuesday, May 7th. Wolfe Research reaffirmed an “outperform” rating and issued a $830.00 price objective on shares of ServiceNow in a research note on Friday, May 10th. Piper Sandler lifted their price objective on ServiceNow from $750.00 to $830.00 and gave the company an “overweight” rating in a research note on Thursday, January 25th. Finally, Guggenheim reaffirmed a “neutral” rating on shares of ServiceNow in a research note on Monday, April 15th. Three research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $808.73.

ServiceNow Trading Down 0.9 %

Shares of NOW stock opened at $770.43 on Thursday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.05 and a current ratio of 1.05. ServiceNow, Inc. has a 1 year low of $494.13 and a 1 year high of $815.32. The stock has a fifty day moving average of $747.63 and a two-hundred day moving average of $730.35. The firm has a market capitalization of $157.94 billion, a PE ratio of 82.40, a price-to-earnings-growth ratio of 4.87 and a beta of 0.98.

ServiceNow (NYSE:NOW) last announced its quarterly earnings results on Wednesday, April 24th. The information technology services provider reported $1.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.41 by $0.41. ServiceNow had a return on equity of 13.59% and a net margin of 20.34%. The company had revenue of $2.60 billion during the quarter, compared to analyst estimates of $2.59 billion. As a group, research analysts expect that ServiceNow, Inc. will post 6.5 EPS for the current year.

Insider Transactions at ServiceNow

In other news, insider Paul John Smith sold 190 shares of the business’s stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $718.78, for a total transaction of $136,568.20. Following the sale, the insider now directly owns 3,010 shares of the company’s stock, valued at $2,163,527.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold 917 shares of company stock valued at $690,880 over the last three months. Company 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.