Daymark Wealth Partners LLC Sells 234 Shares of ServiceNow, Inc. (NYSE:NOW)

Daymark Wealth Partners LLC lessened its stake in ServiceNow, Inc. (NYSE:NOW) by 31.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 508 shares of the information technology services provider’s stock after selling 234 shares during the quarter. Daymark Wealth Partners LLC’s holdings in ServiceNow were worth $539,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Truvestments Capital LLC acquired a new stake in ServiceNow in the third quarter valued at $30,000. DT Investment Partners LLC lifted its stake in ServiceNow by 77.3% in the 3rd quarter. DT Investment Partners LLC now owns 39 shares of the information technology services provider’s stock valued at $35,000 after purchasing an additional 17 shares during the last quarter. Oakworth Capital Inc. grew its holdings in ServiceNow by 46.7% during the third quarter. Oakworth Capital Inc. now owns 44 shares of the information technology services provider’s stock worth $39,000 after purchasing an additional 14 shares during the period. Dunhill Financial LLC increased its position in ServiceNow by 70.0% during the third quarter. Dunhill Financial LLC now owns 51 shares of the information technology services provider’s stock worth $46,000 after buying an additional 21 shares during the last quarter. Finally, Friedenthal Financial bought a new stake in ServiceNow in the fourth quarter valued at approximately $55,000. 87.18% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. Cantor Fitzgerald initiated coverage on ServiceNow in a report on Friday, January 17th. They set an “overweight” rating and a $1,332.00 target price on the stock. StockNews.com raised shares of ServiceNow from a “hold” rating to a “buy” rating in a research report on Tuesday, November 12th. Jefferies Financial Group lifted their target price on shares of ServiceNow from $1,100.00 to $1,250.00 and gave the stock a “buy” rating in a report on Monday, December 2nd. KeyCorp cut shares of ServiceNow from an “overweight” rating to a “sector weight” rating in a report on Friday, December 13th. Finally, Citigroup boosted their price objective on ServiceNow from $1,068.00 to $1,071.00 and gave the stock a “buy” rating in a report on Friday, October 25th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-five have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, ServiceNow has an average rating of “Moderate Buy” and a consensus target price of $1,093.34.

Insiders Place Their Bets

In other news, insider Jacqueline P. Canney sold 455 shares of the business’s stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $1,058.54, for a total transaction of $481,635.70. Following the sale, the insider now directly owns 3,027 shares in the company, valued at approximately $3,204,200.58. The trade was a 13.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO William R. Mcdermott sold 12,271 shares of the firm’s stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $997.67, for a total transaction of $12,242,408.57. Following the completion of the transaction, the chief executive officer now owns 2,595 shares of the company’s stock, valued at approximately $2,588,953.65. This trade represents a 82.54 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 20,731 shares of company stock valued at $21,016,751. 0.25% of the stock is currently owned by insiders.

ServiceNow Stock Performance

ServiceNow stock opened at $1,132.30 on Friday. The stock has a market cap of $233.25 billion, a PE ratio of 176.10, a P/E/G ratio of 4.98 and a beta of 0.99. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.16. ServiceNow, Inc. has a 12-month low of $637.99 and a 12-month high of $1,157.90. The business’s 50-day moving average price is $1,072.95 and its two-hundred day moving average price is $938.64.

ServiceNow (NYSE:NOW) last released its quarterly earnings data on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.46 by $0.26. ServiceNow had a net margin of 12.77% and a return on equity of 16.03%. The business had revenue of $2.80 billion during the quarter, compared to analysts’ expectations of $2.75 billion. During the same period in the prior year, the company earned $1.21 EPS. The firm’s quarterly revenue was up 22.2% compared to the same quarter last year. As a group, analysts expect that ServiceNow, Inc. will post 7.04 earnings per share for the current fiscal 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.