New World Advisors LLC Lowers Position in ServiceNow, Inc. (NYSE:NOW)

New World Advisors LLC trimmed its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 21.6% in the first quarter, Holdings Channel reports. The firm owned 472 shares of the information technology services provider’s stock after selling 130 shares during the period. New World Advisors LLC’s holdings in ServiceNow were worth $376,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Quarry LP purchased a new stake in shares of ServiceNow in the 4th quarter valued at approximately $27,000. Atala Financial Inc acquired a new stake in ServiceNow in the 4th quarter valued at approximately $28,000. LFA Lugano Financial Advisors SA purchased a new stake in ServiceNow in the fourth quarter valued at approximately $32,000. Noble Wealth Management PBC acquired a new position in ServiceNow during the fourth quarter worth $34,000. Finally, Heck Capital Advisors LLC purchased a new position in shares of ServiceNow during the fourth quarter worth $37,000. 87.18% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, General Counsel Russell S. Elmer sold 62 shares of the firm’s stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $1,023.00, for a total transaction of $63,426.00. Following the transaction, the general counsel now directly owns 4,332 shares in the company, valued at approximately $4,431,636. This trade represents a 1.41% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Anita M. Sands sold 248 shares of ServiceNow stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $1,009.14, for a total transaction of $250,266.72. Following the completion of the transaction, the director now directly owns 10,643 shares in the company, valued at $10,740,277.02. The trade was a 2.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 6,716 shares of company stock valued at $6,611,245. Insiders own 0.38% of the company’s stock.

ServiceNow Stock Up 1.0%

Shares of NYSE:NOW opened at $1,005.95 on Thursday. The firm has a 50 day simple moving average of $975.77 and a 200-day simple moving average of $968.70. ServiceNow, Inc. has a twelve month low of $678.66 and a twelve month high of $1,198.09. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.15. The company has a market capitalization of $208.21 billion, a PE ratio of 136.68, a P/E/G ratio of 4.58 and a beta of 0.95.

ServiceNow (NYSE:NOW) last announced its quarterly earnings results on Wednesday, April 23rd. The information technology services provider reported $4.04 EPS for the quarter, topping the consensus estimate of $3.78 by $0.26. ServiceNow had a net margin of 13.41% and a return on equity of 17.34%. The firm had revenue of $3.09 billion for the quarter, compared to analyst estimates of $3.09 billion. During the same period last year, the business earned $3.41 EPS. ServiceNow’s revenue for the quarter was up 18.6% compared to the same quarter last year. On average, equities analysts predict that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on NOW shares. Sanford C. Bernstein reissued an “outperform” rating and set a $1,003.00 target price on shares of ServiceNow in a research note on Thursday, April 24th. The Goldman Sachs Group reissued a “buy” rating on shares of ServiceNow in a research report on Thursday, April 24th. Needham & Company LLC reissued a “buy” rating and issued a $1,050.00 price objective on shares of ServiceNow in a research note on Tuesday, May 6th. Robert W. Baird upped their target price on shares of ServiceNow from $1,010.00 to $1,150.00 and gave the stock an “outperform” rating in a research note on Thursday, April 24th. Finally, Piper Sandler decreased their price target on shares of ServiceNow from $1,200.00 to $1,120.00 and set an “overweight” rating for the company in a research report on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, thirty have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,065.32.

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.