ServiceNow, Inc. (NYSE:NOW) Shares Sold by Narwhal Capital Management

Narwhal Capital Management decreased its position in ServiceNow, Inc. (NYSE:NOW) by 2.6% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,065 shares of the information technology services provider’s stock after selling 81 shares during the quarter. Narwhal Capital Management’s holdings in ServiceNow were worth $2,741,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in NOW. Creekmur Asset Management LLC acquired a new position in ServiceNow in the first quarter worth $25,000. Versant Capital Management Inc boosted its holdings in shares of ServiceNow by 466.7% in the 2nd quarter. Versant Capital Management Inc now owns 34 shares of the information technology services provider’s stock valued at $27,000 after buying an additional 28 shares during the period. EntryPoint Capital LLC grew its position in shares of ServiceNow by 3,900.0% during the 1st quarter. EntryPoint Capital LLC now owns 40 shares of the information technology services provider’s stock valued at $30,000 after buying an additional 39 shares during the last quarter. Ridgewood Investments LLC acquired a new stake in ServiceNow during the second quarter worth about $32,000. Finally, Oakworth Capital Inc. lifted its holdings in ServiceNow by 46.7% in 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 during the last quarter. 87.18% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on NOW shares. Piper Sandler increased their price target on ServiceNow from $830.00 to $850.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. Royal Bank of Canada increased their target price on ServiceNow from $850.00 to $880.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Wells Fargo & Company boosted their price target on shares of ServiceNow from $935.00 to $1,025.00 and gave the company an “overweight” rating in a report on Monday, October 7th. Robert W. Baird increased their price objective on shares of ServiceNow from $885.00 to $900.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Finally, Needham & Company LLC reissued a “buy” rating and set a $900.00 target price on shares of ServiceNow in a research note on Monday, September 9th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-four have issued a buy rating to the company’s stock. Based on data from MarketBeat, ServiceNow has an average rating of “Moderate Buy” and a consensus price target of $923.00.

ServiceNow Stock Down 0.0 %

NOW stock opened at $917.92 on Wednesday. The firm has a market cap of $188.17 billion, a PE ratio of 98.17, a P/E/G ratio of 5.63 and a beta of 0.99. ServiceNow, Inc. has a 12 month low of $527.24 and a 12 month high of $949.59. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.12 and a quick ratio of 1.12. The firm has a 50 day simple moving average of $878.83 and a 200 day simple moving average of $794.29.

ServiceNow (NYSE:NOW) last announced its quarterly earnings data on Wednesday, July 24th. The information technology services provider reported $3.13 EPS for the quarter, beating analysts’ consensus estimates of $2.85 by $0.28. The company had revenue of $2.63 billion during the quarter, compared to the consensus estimate of $2.61 billion. ServiceNow had a return on equity of 14.52% and a net margin of 11.51%. The company’s quarterly revenue was up 22.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.77 EPS. Equities research analysts forecast that ServiceNow, Inc. will post 6.78 earnings per share for the current fiscal year.

Insider Transactions at ServiceNow

In related news, CFO Gina Mastantuono sold 1,800 shares of ServiceNow stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $825.00, for a total value of $1,485,000.00. Following the transaction, the chief financial officer now owns 11,490 shares of the company’s stock, valued at approximately $9,479,250. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other ServiceNow news, CFO Gina Mastantuono sold 1,800 shares of the firm’s stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $825.00, for a total value of $1,485,000.00. Following the completion of the transaction, the chief financial officer now directly owns 11,490 shares in the company, valued at $9,479,250. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, General Counsel Russell S. Elmer sold 1,937 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $779.81, for a total transaction of $1,510,491.97. Following the sale, the general counsel now owns 6,736 shares in the company, valued at $5,252,800.16. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 7,267 shares of company stock valued at $5,935,447 over the last three months. 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.