Private Client Services LLC Lowers Position in ServiceNow, Inc. (NYSE:NOW)

Private Client Services LLC trimmed its position in shares of ServiceNow, Inc. (NYSE:NOW) by 8.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,093 shares of the information technology services provider’s stock after selling 193 shares during the quarter. ServiceNow makes up about 1.2% of Private Client Services LLC’s portfolio, making the stock its 23rd biggest holding. Private Client Services LLC’s holdings in ServiceNow were worth $2,219,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Truvestments Capital LLC acquired a new stake in ServiceNow in the 3rd quarter valued at $30,000. DT Investment Partners LLC grew its position in shares of ServiceNow by 77.3% in the third 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 period. Oakworth Capital Inc. increased its stake in shares of 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 in the last quarter. Semmax Financial Advisors Inc. acquired a new position in shares of ServiceNow during the 2nd quarter worth about $39,000. Finally, Dunhill Financial LLC lifted its stake in ServiceNow by 70.0% in the 3rd quarter. Dunhill Financial LLC now owns 51 shares of the information technology services provider’s stock valued at $46,000 after buying an additional 21 shares in the last quarter. 87.18% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at ServiceNow

In related news, Director Paul Edward Chamberlain sold 300 shares of the business’s stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $1,047.95, for a total transaction of $314,385.00. Following the completion of the sale, the director now owns 10,467 shares in the company, valued at $10,968,892.65. The trade was a 2.79 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Nicholas Tzitzon sold 313 shares of the stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $1,064.60, for a total transaction of $333,219.80. Following the completion of the transaction, the insider now owns 3,649 shares in the company, valued at $3,884,725.40. This represents a 7.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 20,629 shares of company stock worth $20,861,626. Company insiders own 0.25% of the company’s stock.

ServiceNow Trading Up 0.1 %

NYSE:NOW traded up $1.32 on Wednesday, reaching $1,055.47. 897,442 shares of the company’s stock were exchanged, compared to its average volume of 957,049. The firm has a market capitalization of $217.43 billion, a price-to-earnings ratio of 164.15, a price-to-earnings-growth ratio of 6.43 and a beta of 0.99. ServiceNow, Inc. has a 52-week low of $637.99 and a 52-week high of $1,157.90. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.16. The business has a fifty day moving average of $1,058.15 and a 200-day moving average of $917.99.

ServiceNow (NYSE:NOW) last released its earnings results 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. The company had revenue of $2.80 billion for the quarter, compared to analyst estimates of $2.75 billion. ServiceNow had a net margin of 12.77% and a return on equity of 16.03%. The firm’s quarterly revenue was up 22.2% on a year-over-year basis. During the same period in the prior year, the business earned $1.21 EPS. As a group, analysts expect that ServiceNow, Inc. will post 7.07 earnings per share for the current year.

Analyst Ratings Changes

NOW has been the topic of several research reports. KeyCorp downgraded ServiceNow from an “overweight” rating to a “sector weight” rating in a research report on Friday, December 13th. Piper Sandler lifted their target price on shares of ServiceNow from $1,000.00 to $1,200.00 and gave the stock an “overweight” rating in a research note on Monday. Wells Fargo & Company upped their target price on shares of ServiceNow from $1,150.00 to $1,250.00 and gave the stock an “overweight” rating in a report on Thursday, December 5th. Mizuho raised their price target on shares of ServiceNow from $1,070.00 to $1,210.00 and gave the stock an “outperform” rating in a research note on Friday, December 13th. Finally, Jefferies Financial Group upped their price objective on shares of ServiceNow from $1,100.00 to $1,250.00 and gave the company a “buy” rating in a research note on Monday, December 2nd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, twenty-five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, ServiceNow has an average rating of “Moderate Buy” and a consensus target price of $1,061.04.

ServiceNow Company 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.