Sigma Planning Corp Lowers Position in ServiceNow, Inc. (NYSE:NOW)

Sigma Planning Corp trimmed its stake in ServiceNow, Inc. (NYSE:NOW) by 62.8% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 981 shares of the information technology services provider’s stock after selling 1,655 shares during the quarter. Sigma Planning Corp’s holdings in ServiceNow were worth $693,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of NOW. PFG Private Wealth Management LLC acquired a new position in ServiceNow during the third quarter valued at approximately $28,000. AdvisorNet Financial Inc lifted its position in ServiceNow by 266.7% during the fourth quarter. AdvisorNet Financial Inc now owns 44 shares of the information technology services provider’s stock valued at $31,000 after buying an additional 32 shares in the last quarter. Steward Financial Group LLC lifted its position in ServiceNow by 125.0% during the third quarter. Steward Financial Group LLC now owns 63 shares of the information technology services provider’s stock valued at $35,000 after buying an additional 35 shares in the last quarter. Princeton Global Asset Management LLC acquired a new position in ServiceNow during the third quarter valued at approximately $35,000. Finally, OFI Invest Asset Management acquired a new position in ServiceNow during the third quarter valued at approximately $41,000. 87.18% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

NOW has been the topic of a number of recent research reports. Royal Bank of Canada lifted their price target on shares of ServiceNow from $840.00 to $850.00 and gave the company an “outperform” rating in a research report on Thursday, January 25th. Guggenheim reaffirmed a “neutral” rating on shares of ServiceNow in a research report on Monday, April 15th. KeyCorp assumed coverage on shares of ServiceNow in a research report on Thursday, March 21st. They set an “overweight” rating and a $1,000.00 price target on the stock. Truist Financial boosted their target price on shares of ServiceNow from $700.00 to $750.00 and gave the stock a “hold” rating in a research report on Thursday, January 25th. Finally, Robert W. Baird boosted their target price on shares of ServiceNow from $780.00 to $870.00 and gave the stock an “outperform” rating in a research report on Thursday, January 25th. Three investment analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $780.37.

ServiceNow Trading Up 0.7 %

NOW opened at $746.39 on Thursday. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.06 and a quick ratio of 1.06. ServiceNow, Inc. has a 12-month low of $427.68 and a 12-month high of $815.32. The firm’s fifty day moving average price is $761.32 and its 200 day moving average price is $706.74. The stock has a market capitalization of $153.29 billion, a PE ratio of 88.75, a P/E/G ratio of 4.68 and a beta of 0.97.

ServiceNow (NYSE:NOW) last released its earnings results on Wednesday, January 24th. The information technology services provider reported $3.11 earnings per share for the quarter, beating the consensus estimate of $2.77 by $0.34. ServiceNow had a net margin of 19.30% and a return on equity of 11.85%. The firm had revenue of $2.44 billion during the quarter, compared to analyst estimates of $2.40 billion. During the same quarter in the previous year, the firm earned $0.88 earnings per share. The firm’s revenue for the quarter was up 25.6% compared to the same quarter last year. As a group, research analysts expect that ServiceNow, Inc. will post 6.16 EPS for the current fiscal year.

Insider Buying and Selling at ServiceNow

In other ServiceNow news, insider Paul John Smith sold 5,159 shares of the business’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $745.32, for a total transaction of $3,845,105.88. Following the completion of the sale, the insider now owns 5,453 shares in the company, valued at $4,064,229.96. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other ServiceNow news, insider Paul John Smith sold 5,159 shares of the business’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $745.32, for a total transaction of $3,845,105.88. Following the completion of the sale, the insider now owns 5,453 shares in the company, valued at $4,064,229.96. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO William R. Mcdermott sold 5,030 shares of the business’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $753.08, for a total transaction of $3,787,992.40. Following the sale, the chief executive officer now owns 17,177 shares of the company’s stock, valued at approximately $12,935,655.16. The disclosure for this sale can be found here. Insiders sold a total of 13,164 shares of company stock worth $9,940,303 over the last 90 days. 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.