ServiceNow, Inc. (NYSE:NOW) Position Trimmed by Sequoia Financial Advisors LLC

Sequoia Financial Advisors LLC trimmed its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 7.4% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 22,555 shares of the information technology services provider’s stock after selling 1,796 shares during the period. Sequoia Financial Advisors LLC’s holdings in ServiceNow were worth $20,173,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Creekmur Asset Management LLC acquired a new stake in shares of ServiceNow during the 1st quarter valued at $25,000. Versant Capital Management Inc raised its holdings in shares of ServiceNow by 466.7% during the 2nd quarter. Versant Capital Management Inc now owns 34 shares of the information technology services provider’s stock valued at $27,000 after purchasing an additional 28 shares in the last quarter. EntryPoint Capital LLC raised its holdings 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 purchasing an additional 39 shares in the last quarter. Ridgewood Investments LLC bought a new position in shares of ServiceNow during the 2nd quarter valued at $32,000. Finally, Oakworth Capital Inc. raised its holdings in shares of ServiceNow by 46.7% during the 3rd quarter. Oakworth Capital Inc. now owns 44 shares of the information technology services provider’s stock valued at $39,000 after purchasing an additional 14 shares in the last quarter. Institutional investors and hedge funds own 87.18% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on NOW. Citigroup raised their price target on shares of ServiceNow from $915.00 to $1,068.00 and gave the company a “buy” rating in a report on Thursday, October 17th. Barclays raised their price target on shares of ServiceNow from $890.00 to $980.00 and gave the company an “overweight” rating in a report on Friday, October 11th. Robert W. Baird raised their price target on shares of ServiceNow from $885.00 to $900.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Guggenheim reiterated a “sell” rating and issued a $640.00 target price on shares of ServiceNow in a report on Monday, July 8th. Finally, KeyCorp dropped their target price on shares of ServiceNow from $950.00 to $920.00 and set an “overweight” rating on the stock in a report on Tuesday, July 2nd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-four have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $923.00.

Insider Buying and Selling at ServiceNow

In other ServiceNow news, CFO Gina Mastantuono sold 1,800 shares of the company’s stock in a transaction that occurred on 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 sale, the chief financial officer now owns 11,490 shares of the company’s stock, valued at approximately $9,479,250. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CFO Gina Mastantuono sold 1,800 shares of the company’s stock in a transaction that occurred on 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 owns 11,490 shares in the company, valued at $9,479,250. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Russell S. Elmer sold 1,937 shares of the company’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 completion of the transaction, the general counsel now owns 6,736 shares of the company’s stock, valued at $5,252,800.16. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 7,267 shares of company stock valued at $5,935,447. Corporate insiders own 0.25% of the company’s stock.

ServiceNow Trading Up 0.3 %

Shares of NOW traded up $2.49 on Tuesday, reaching $920.83. 272,788 shares of the company’s stock were exchanged, compared to its average volume of 1,268,134. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.17. The stock has a market capitalization of $188.77 billion, a P/E ratio of 98.22, a price-to-earnings-growth ratio of 5.63 and a beta of 0.99. The business has a 50 day moving average price of $876.85 and a two-hundred day moving average price of $793.35. ServiceNow, Inc. has a 12 month low of $527.24 and a 12 month high of $949.59.

ServiceNow (NYSE:NOW) last posted its quarterly earnings results on Wednesday, July 24th. The information technology services provider reported $3.13 earnings per share for the quarter, topping analysts’ consensus estimates of $2.85 by $0.28. ServiceNow had a net margin of 11.51% and a return on equity of 14.52%. The business had revenue of $2.63 billion during the quarter, compared to the consensus estimate of $2.61 billion. During the same period in the previous year, the firm posted $0.77 earnings per share. ServiceNow’s revenue for the quarter was up 22.2% compared to the same quarter last year. Research analysts anticipate that ServiceNow, Inc. will post 6.78 earnings per share for the current year.

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.