ServiceNow, Inc. (NYSE:NOW) Shares Sold by Mutual Advisors LLC

Mutual Advisors LLC cut its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 4.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 3,619 shares of the information technology services provider’s stock after selling 185 shares during the quarter. Mutual Advisors LLC’s holdings in ServiceNow were worth $3,826,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in NOW. Truvestments Capital LLC purchased a new position in ServiceNow in the third quarter valued at about $30,000. DT Investment Partners LLC grew its holdings 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 worth $35,000 after acquiring an additional 17 shares during the period. Oakworth Capital Inc. grew its holdings in shares of ServiceNow by 46.7% in the 3rd 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 during the period. Dunhill Financial LLC raised its holdings in ServiceNow by 70.0% during 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 last quarter. Finally, Friedenthal Financial purchased a new stake in ServiceNow during the fourth quarter worth $55,000. Hedge funds and other institutional investors own 87.18% of the company’s stock.

Analysts Set New Price Targets

NOW has been the subject of a number of research analyst reports. JPMorgan Chase & Co. raised their price target on ServiceNow from $820.00 to $950.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th. Needham & Company LLC raised their target price on shares of ServiceNow from $1,075.00 to $1,150.00 and gave the company a “buy” rating in a report on Monday, November 25th. Wells Fargo & Company upped their price target on shares of ServiceNow from $1,150.00 to $1,250.00 and gave the company an “overweight” rating in a report on Thursday, December 5th. Royal Bank of Canada raised their price objective on shares of ServiceNow from $1,045.00 to $1,210.00 and gave the stock an “outperform” rating in a research note on Friday, January 3rd. Finally, BMO Capital Markets upped their target price on ServiceNow from $860.00 to $1,025.00 and gave the company an “outperform” rating in a research note on Thursday, October 10th. One 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’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $1,093.34.

ServiceNow Trading Up 0.6 %

Shares of NOW opened at $1,132.30 on Friday. ServiceNow, Inc. has a twelve month low of $637.99 and a twelve month high of $1,157.90. The firm has a market capitalization of $233.25 billion, a P/E ratio of 176.10, 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. The stock’s fifty day simple moving average is $1,072.95 and its 200 day simple moving average is $938.64.

ServiceNow (NYSE:NOW) last released its quarterly earnings data on Wednesday, October 23rd. The information technology services provider reported $3.72 EPS for the quarter, topping analysts’ consensus estimates of $3.46 by $0.26. ServiceNow had a return on equity of 16.03% and a net margin of 12.77%. The company had revenue of $2.80 billion for the quarter, compared to the consensus estimate of $2.75 billion. During the same period last year, the business posted $1.21 EPS. The company’s quarterly revenue was up 22.2% compared to the same quarter last year. On average, equities research analysts forecast that ServiceNow, Inc. will post 7.04 earnings per share for the current year.

Insider Activity at ServiceNow

In other news, insider Jacqueline P. Canney sold 455 shares of the stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $1,058.54, for a total value of $481,635.70. Following the completion of the sale, the insider now owns 3,027 shares of the company’s stock, valued at $3,204,200.58. This represents a 13.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO William R. Mcdermott sold 12,271 shares of the firm’s stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $997.67, for a total transaction of $12,242,408.57. Following the completion of the transaction, the chief executive officer now directly owns 2,595 shares in the company, valued at approximately $2,588,953.65. This represents a 82.54 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 20,731 shares of company stock worth $21,016,751. Company 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.