Smith Salley Wealth Management Lowers Stock Holdings in ServiceNow, Inc. (NYSE:NOW)

Smith Salley Wealth Management trimmed its stake in ServiceNow, Inc. (NYSE:NOW) by 24.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 301 shares of the information technology services provider’s stock after selling 95 shares during the period. Smith Salley Wealth Management’s holdings in ServiceNow were worth $237,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. M&G Plc bought a new position in shares of ServiceNow in the first quarter worth approximately $11,030,000. Smithfield Trust Co increased its position in shares of ServiceNow by 36.4% in the fourth quarter. Smithfield Trust Co now owns 981 shares of the information technology services provider’s stock worth $691,000 after purchasing an additional 262 shares during the last quarter. New Mexico Educational Retirement Board increased its position in shares of ServiceNow by 9.4% in the first quarter. New Mexico Educational Retirement Board now owns 11,650 shares of the information technology services provider’s stock worth $8,882,000 after purchasing an additional 1,000 shares during the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its position in shares of ServiceNow by 375.6% in the first quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 1,365 shares of the information technology services provider’s stock worth $1,041,000 after purchasing an additional 1,078 shares during the last quarter. Finally, Summa Corp. bought a new position in shares of ServiceNow in the fourth quarter worth approximately $381,000. 87.18% of the stock is currently owned by institutional investors.

ServiceNow Trading Up 2.9 %

NOW stock traded up $23.73 on Friday, reaching $855.00. The company’s stock had a trading volume of 1,916,043 shares, compared to its average volume of 1,294,300. The business has a fifty day simple moving average of $789.70 and a two-hundred day simple moving average of $760.16. ServiceNow, Inc. has a 12-month low of $527.24 and a 12-month high of $857.25. The firm has a market cap of $175.28 billion, a PE ratio of 91.44, a PEG ratio of 4.82 and a beta of 0.99. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.12 and a current ratio of 1.12.

ServiceNow (NYSE:NOW) last announced its quarterly earnings results on Wednesday, July 24th. The information technology services provider reported $3.13 EPS for the quarter, topping analysts’ consensus estimates of $2.85 by $0.28. ServiceNow had a return on equity of 14.52% and a net margin of 11.51%. The company had revenue of $2.63 billion during the quarter, compared to analyst estimates of $2.61 billion. During the same quarter last year, the firm posted $0.77 earnings per share. The firm’s revenue was up 22.2% on a year-over-year basis. As a group, research analysts forecast that ServiceNow, Inc. will post 6.84 EPS for the current year.

Analyst Upgrades and Downgrades

NOW has been the topic of a number of recent research reports. Deutsche Bank Aktiengesellschaft increased their price target on shares of ServiceNow from $875.00 to $900.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. Guggenheim reiterated a “sell” rating and set a $640.00 price target on shares of ServiceNow in a research report on Monday, July 8th. JPMorgan Chase & Co. increased their price target on shares of ServiceNow from $780.00 to $820.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. JMP Securities increased their price target on shares of ServiceNow from $825.00 to $850.00 and gave the company a “market outperform” rating in a research report on Thursday, July 25th. Finally, Wolfe Research reiterated an “outperform” rating and set a $830.00 price target on shares of ServiceNow in a research report on Friday, May 10th. One analyst has rated the stock with a sell rating, two have given a hold rating and twenty-five have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $849.62.

Insider Buying and Selling

In related news, insider Christopher Bedi sold 215 shares of the firm’s stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $700.00, for a total value of $150,500.00. Following the completion of the sale, the insider now owns 15,892 shares of the company’s stock, valued at $11,124,400. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other ServiceNow news, insider Christopher Bedi sold 215 shares of the firm’s stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $700.00, for a total transaction of $150,500.00. Following the completion of the transaction, the insider now owns 15,892 shares of the company’s stock, valued at $11,124,400. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Nicholas Tzitzon sold 1,857 shares of the firm’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $829.68, for a total value of $1,540,715.76. Following the transaction, the insider now directly owns 3,649 shares of the company’s stock, valued at approximately $3,027,502.32. The disclosure for this sale can be found here. Insiders sold 7,129 shares of company stock valued at $5,759,436 over the last quarter. 0.25% of the stock is owned by company insiders.

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.