Taurus Asset Management LLC Sells 60 Shares of ServiceNow, Inc. (NYSE:NOW)

Taurus Asset Management LLC lowered its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 0.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 17,820 shares of the information technology services provider’s stock after selling 60 shares during the quarter. Taurus Asset Management LLC’s holdings in ServiceNow were worth $15,938,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of NOW. Bank of New York Mellon Corp raised its position in shares of ServiceNow by 2.3% during the second quarter. Bank of New York Mellon Corp now owns 1,529,430 shares of the information technology services provider’s stock valued at $1,203,157,000 after buying an additional 34,855 shares during the last quarter. Swedbank AB increased its stake in ServiceNow by 10.3% during the second quarter. Swedbank AB now owns 1,298,722 shares of the information technology services provider’s stock valued at $1,021,666,000 after acquiring an additional 120,983 shares during the period. International Assets Investment Management LLC increased its stake in ServiceNow by 89,137.0% during the third quarter. International Assets Investment Management LLC now owns 1,185,067 shares of the information technology services provider’s stock valued at $1,059,912,000 after acquiring an additional 1,183,739 shares during the period. Ameriprise Financial Inc. raised its holdings in ServiceNow by 21.5% in the 2nd quarter. Ameriprise Financial Inc. now owns 954,045 shares of the information technology services provider’s stock valued at $750,513,000 after acquiring an additional 168,734 shares in the last quarter. Finally, Clearbridge Investments LLC lifted its position in shares of ServiceNow by 1.8% in the 2nd quarter. Clearbridge Investments LLC now owns 677,942 shares of the information technology services provider’s stock worth $533,316,000 after acquiring an additional 11,979 shares during the period. 87.18% of the stock is currently owned by institutional investors and hedge funds.

ServiceNow Stock Performance

Shares of NYSE:NOW opened at $1,011.39 on Monday. The firm’s 50 day simple moving average is $932.47 and its 200 day simple moving average is $825.13. ServiceNow, Inc. has a fifty-two week low of $637.99 and a fifty-two week high of $1,061.66. The company has a market capitalization of $208.35 billion, a price-to-earnings ratio of 157.29, a P/E/G ratio of 5.80 and a beta of 0.98. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.13 and a quick ratio of 1.13.

ServiceNow (NYSE:NOW) last posted its earnings results on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share for the quarter, topping the consensus estimate of $3.46 by $0.26. The company had revenue of $2.80 billion for the quarter, compared to analyst estimates of $2.75 billion. ServiceNow had a net margin of 12.77% and a return on equity of 16.03%. The business’s revenue for the quarter was up 22.2% compared to the same quarter last year. During the same period last year, the business posted $1.21 earnings per share. As a group, sell-side analysts forecast that ServiceNow, Inc. will post 7.07 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Wells Fargo & Company boosted their price objective on ServiceNow from $1,050.00 to $1,150.00 and gave the company an “overweight” rating in a research report on Tuesday, November 12th. Evercore ISI boosted their price target on shares of ServiceNow from $950.00 to $1,000.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. UBS Group raised their price objective on shares of ServiceNow from $900.00 to $1,055.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. Deutsche Bank Aktiengesellschaft upped their target price on shares of ServiceNow from $875.00 to $900.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Finally, StockNews.com upgraded shares of ServiceNow from a “hold” rating to a “buy” rating in a research note on Tuesday, November 12th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-six have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $974.04.

Insider Activity at ServiceNow

In other news, insider Nicholas Tzitzon sold 1,857 shares of the stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $829.68, for a total transaction of $1,540,715.76. Following the completion of the transaction, the insider now directly owns 3,649 shares in the company, valued at $3,027,502.32. This represents a 33.73 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Jeffrey A. Miller sold 2,879 shares of the firm’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $1,019.12, for a total value of $2,934,046.48. Following the completion of the transaction, the director now owns 42,920 shares of the company’s stock, valued at $43,740,630.40. The trade was a 6.29 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 5,231 shares of company stock valued at $4,947,292. 0.25% of the stock is owned by corporate insiders.

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.