ServiceNow, Inc. (NYSE:NOW) Shares Sold by Lynch Asset Management Inc.

Lynch Asset Management Inc. trimmed its position in shares of ServiceNow, Inc. (NYSE:NOW) by 0.9% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 8,000 shares of the information technology services provider’s stock after selling 75 shares during the quarter. ServiceNow makes up approximately 3.0% of Lynch Asset Management Inc.’s investment portfolio, making the stock its 9th largest position. Lynch Asset Management Inc.’s holdings in ServiceNow were worth $7,155,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. M&G Plc purchased a new stake in shares of ServiceNow during the first quarter worth approximately $11,030,000. AXA S.A. grew its holdings in ServiceNow by 1.1% in the 2nd quarter. AXA S.A. now owns 387,344 shares of the information technology services provider’s stock valued at $304,712,000 after buying an additional 4,271 shares in the last quarter. HWG Holdings LP purchased a new stake in ServiceNow in the 2nd quarter valued at $2,679,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its holdings in ServiceNow by 375.6% in the 1st quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 1,365 shares of the information technology services provider’s stock valued at $1,041,000 after buying an additional 1,078 shares in the last quarter. Finally, Wealthspire Advisors LLC grew its holdings in ServiceNow by 3.4% in the 1st quarter. Wealthspire Advisors LLC now owns 1,683 shares of the information technology services provider’s stock valued at $1,283,000 after buying an additional 56 shares in the last quarter. 87.18% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have issued reports on NOW shares. Jefferies Financial Group upped their target price on ServiceNow from $900.00 to $1,100.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Citigroup upped their target price on ServiceNow from $1,068.00 to $1,071.00 and gave the company a “buy” rating in a report on Friday. Royal Bank of Canada upped their target price on ServiceNow from $985.00 to $1,045.00 and gave the company an “outperform” rating in a report on Thursday. JMP Securities upped their target price on ServiceNow from $850.00 to $1,000.00 and gave the company a “market outperform” rating in a report on Thursday, October 17th. Finally, Wells Fargo & Company upped their price target on ServiceNow from $1,025.00 to $1,050.00 and gave the company an “overweight” rating in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and twenty-five have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $970.33.

ServiceNow Stock Down 0.6 %

Shares of NOW traded down $5.73 during mid-day trading on Friday, reaching $950.85. The company’s stock had a trading volume of 1,494,753 shares, compared to its average volume of 1,286,547. ServiceNow, Inc. has a 12-month low of $548.44 and a 12-month high of $979.78. The stock has a market cap of $195.88 billion, a PE ratio of 171.94, a price-to-earnings-growth ratio of 5.04 and a beta of 0.99. 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 company’s 50 day moving average is $885.56 and its 200 day moving average is $797.46.

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, beating analysts’ consensus estimates of $3.46 by $0.26. ServiceNow had a return on equity of 14.52% and a net margin of 11.51%. The business had revenue of $2.80 billion for the quarter, compared to the consensus estimate of $2.75 billion. During the same quarter in the prior year, the business posted $1.21 EPS. The business’s revenue for the quarter was up 22.2% on a year-over-year basis. Equities analysts anticipate that ServiceNow, Inc. will post 7.41 EPS for the current fiscal year.

Insider Activity

In other news, insider Paul John Smith sold 187 shares of the stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $795.58, for a total value of $148,773.46. Following the transaction, the insider now owns 3,779 shares in the company, valued at approximately $3,006,496.82. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, insider Paul John Smith sold 187 shares of the stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $795.58, for a total value of $148,773.46. Following the transaction, the insider now owns 3,779 shares in the company, valued at approximately $3,006,496.82. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Jacqueline P. Canney sold 353 shares of the firm’s stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $924.96, for a total value of $326,510.88. Following the transaction, the insider now owns 3,027 shares in the company, valued at $2,799,853.92. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 5,467 shares of company stock worth $4,450,447. 0.25% of the stock is currently owned by 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.