ServiceNow Inc (NOW) Shares Bought by Gabelli Funds LLC

Gabelli Funds LLC lifted its stake in shares of ServiceNow Inc (NYSE:NOW) by 84.3% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 72,600 shares of the information technology services provider’s stock after buying an additional 33,200 shares during the period. Gabelli Funds LLC’s holdings in ServiceNow were worth $14,203,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Janus Henderson Group PLC increased its position in shares of ServiceNow by 44.3% during the second quarter. Janus Henderson Group PLC now owns 1,652,619 shares of the information technology services provider’s stock valued at $285,058,000 after buying an additional 507,435 shares during the period. Northern Trust Corp increased its position in shares of ServiceNow by 1.0% during the second quarter. Northern Trust Corp now owns 990,521 shares of the information technology services provider’s stock valued at $170,835,000 after buying an additional 9,950 shares during the period. Bessemer Group Inc. increased its position in shares of ServiceNow by 49.5% during the second quarter. Bessemer Group Inc. now owns 827,954 shares of the information technology services provider’s stock valued at $142,796,000 after buying an additional 274,242 shares during the period. Victory Capital Management Inc. increased its position in shares of ServiceNow by 105.6% during the third quarter. Victory Capital Management Inc. now owns 653,981 shares of the information technology services provider’s stock valued at $127,939,000 after buying an additional 335,921 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. increased its position in shares of ServiceNow by 10.4% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 626,588 shares of the information technology services provider’s stock valued at $108,068,000 after buying an additional 58,968 shares during the period. Institutional investors own 95.25% of the company’s stock.

In other news, CFO Michael Scarpelli sold 30,037 shares of the stock in a transaction that occurred on Tuesday, August 21st. The shares were sold at an average price of $182.89, for a total transaction of $5,493,466.93. Following the sale, the chief financial officer now owns 68,748 shares in the company, valued at $12,573,321.72. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Chirantan Jitendra Desai sold 2,031 shares of the stock in a transaction that occurred on Friday, October 12th. The shares were sold at an average price of $183.80, for a total transaction of $373,297.80. Following the sale, the insider now owns 7,174 shares in the company, valued at approximately $1,318,581.20. The disclosure for this sale can be found here. In the last quarter, insiders have sold 150,844 shares of company stock worth $27,759,604. Corporate insiders own 1.60% of the company’s stock.

NYSE:NOW opened at $177.59 on Friday. ServiceNow Inc has a 52 week low of $112.84 and a 52 week high of $206.29. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.28 and a current ratio of 1.28. The company has a market cap of $31.56 billion, a PE ratio of -169.13, a PEG ratio of 32.91 and a beta of 1.25.

ServiceNow (NYSE:NOW) last posted its quarterly earnings results on Wednesday, October 24th. The information technology services provider reported $0.68 EPS for the quarter, beating the Zacks’ consensus estimate of $0.07 by $0.61. ServiceNow had a negative net margin of 2.52% and a negative return on equity of 3.15%. The firm had revenue of $673.10 million for the quarter, compared to analysts’ expectations of $659.41 million. As a group, equities analysts predict that ServiceNow Inc will post 0.16 earnings per share for the current fiscal year.

NOW has been the topic of several research analyst reports. Barclays reiterated a “buy” rating and set a $198.00 price target on shares of ServiceNow in a research report on Friday, July 27th. Northland Securities reiterated a “buy” rating and set a $200.00 price target on shares of ServiceNow in a research report on Thursday, July 26th. Royal Bank of Canada reiterated a “buy” rating and set a $205.00 price target on shares of ServiceNow in a research report on Thursday, July 26th. Canaccord Genuity boosted their price target on shares of ServiceNow from $190.00 to $210.00 and gave the company a “buy” rating in a research report on Thursday, July 26th. Finally, Bank of America upped their price objective on shares of ServiceNow from $203.00 to $210.00 and gave the stock a “buy” rating in a report on Wednesday, July 25th. One analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-five have given a buy rating and two have assigned a strong buy rating to the company’s stock. ServiceNow has an average rating of “Buy” and a consensus price target of $203.44.

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ServiceNow Profile

ServiceNow, Inc provides enterprise cloud computing solutions that define, structure, manage, and automate services for enterprises worldwide. The company offers service management solutions for customer service, human resources, security operations, and other enterprise departments. It operates ServiceNow platform that provides workflow automation, electronic service catalogs and portals, configuration management systems, data benchmarking, performance analytics, encryption, and collaboration and development tools.

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Institutional Ownership by Quarter for ServiceNow (NYSE:NOW)

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