D.B. Root & Company LLC Sells 130 Shares of ServiceNow, Inc. (NYSE:NOW)

D.B. Root & Company LLC reduced its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 14.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 748 shares of the information technology services provider’s stock after selling 130 shares during the period. D.B. Root & Company LLC’s holdings in ServiceNow were worth $793,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Truvestments Capital LLC bought a new stake in ServiceNow in the third quarter worth approximately $30,000. DT Investment Partners LLC increased its stake in shares of ServiceNow by 77.3% in the 3rd quarter. DT Investment Partners LLC now owns 39 shares of the information technology services provider’s stock valued at $35,000 after acquiring an additional 17 shares in the last quarter. Semmax Financial Advisors Inc. acquired a new position in shares of ServiceNow during the 2nd quarter valued at $39,000. Oakworth Capital Inc. boosted its stake in ServiceNow by 46.7% during the third quarter. Oakworth Capital Inc. now owns 44 shares of the information technology services provider’s stock worth $39,000 after acquiring an additional 14 shares in the last quarter. Finally, Dunhill Financial LLC grew its holdings in ServiceNow by 70.0% in the third quarter. Dunhill Financial LLC now owns 51 shares of the information technology services provider’s stock worth $46,000 after purchasing an additional 21 shares during the period. 87.18% of the stock is owned by institutional investors and hedge funds.

ServiceNow Trading Up 2.6 %

NYSE:NOW opened at $1,125.39 on Thursday. The firm’s 50 day moving average is $1,072.95 and its 200 day moving average is $938.64. ServiceNow, Inc. has a 12 month low of $637.99 and a 12 month high of $1,157.90. The stock has a market capitalization of $231.83 billion, a PE ratio of 175.02, a price-to-earnings-growth ratio of 4.98 and a beta of 0.99. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.16.

ServiceNow (NYSE:NOW) last issued its quarterly earnings results on Wednesday, October 23rd. The information technology services provider reported $3.72 EPS for the quarter, beating analysts’ consensus estimates of $3.46 by $0.26. The firm had revenue of $2.80 billion for the quarter, compared to analysts’ expectations of $2.75 billion. ServiceNow had a return on equity of 16.03% and a net margin of 12.77%. The business’s revenue for the quarter was up 22.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.21 EPS. Sell-side analysts expect that ServiceNow, Inc. will post 7.04 earnings per share for the current year.

Insider Activity at ServiceNow

In related news, Director Paul Edward Chamberlain sold 300 shares of the business’s stock in a transaction on Friday, November 29th. The stock was sold at an average price of $1,047.95, for a total transaction of $314,385.00. Following the sale, the director now directly owns 10,467 shares in the company, valued at approximately $10,968,892.65. The trade was a 2.79 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Jacqueline P. Canney sold 66 shares of the firm’s stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $1,048.29, for a total value of $69,187.14. Following the completion of the transaction, the insider now owns 3,027 shares of the company’s stock, valued at approximately $3,173,173.83. This represents a 2.13 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 20,731 shares of company stock worth $21,016,751. Company insiders own 0.25% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. StockNews.com upgraded shares of ServiceNow from a “hold” rating to a “buy” rating in a report on Tuesday, November 12th. Canaccord Genuity Group increased their price target on ServiceNow from $1,000.00 to $1,200.00 and gave the stock a “buy” rating in a report on Friday, December 20th. TD Cowen raised their price objective on ServiceNow from $1,025.00 to $1,300.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. Raymond James assumed coverage on ServiceNow in a research report on Tuesday, December 24th. They set an “outperform” rating and a $1,200.00 target price on the stock. Finally, The Goldman Sachs Group lifted their price target on shares of ServiceNow from $1,050.00 to $1,200.00 and gave the company a “buy” rating in a research report on Friday, January 10th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-five have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $1,093.34.

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.