ServiceNow, Inc. $NOW Position Reduced by Sowell Financial Services LLC

Sowell Financial Services LLC lowered its stake in ServiceNow, Inc. (NYSE:NOW) by 5.0% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,635 shares of the information technology services provider’s stock after selling 86 shares during the period. Sowell Financial Services LLC’s holdings in ServiceNow were worth $1,681,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of the stock. Haverford Trust Co increased its holdings in shares of ServiceNow by 0.9% in the first quarter. Haverford Trust Co now owns 1,176 shares of the information technology services provider’s stock valued at $936,000 after buying an additional 10 shares in the last quarter. Ascent Group LLC increased its holdings in shares of ServiceNow by 0.5% in the first quarter. Ascent Group LLC now owns 2,045 shares of the information technology services provider’s stock valued at $1,628,000 after buying an additional 10 shares in the last quarter. Edgemoor Investment Advisors Inc. increased its holdings in shares of ServiceNow by 2.5% in the first quarter. Edgemoor Investment Advisors Inc. now owns 459 shares of the information technology services provider’s stock valued at $366,000 after buying an additional 11 shares in the last quarter. Integrated Investment Consultants LLC increased its holdings in shares of ServiceNow by 2.5% in the first quarter. Integrated Investment Consultants LLC now owns 450 shares of the information technology services provider’s stock valued at $358,000 after buying an additional 11 shares in the last quarter. Finally, one8zero8 LLC increased its holdings in shares of ServiceNow by 3.2% in the first quarter. one8zero8 LLC now owns 356 shares of the information technology services provider’s stock valued at $283,000 after buying an additional 11 shares in the last quarter. Institutional investors own 87.18% of the company’s stock.

Insider Activity

In other ServiceNow news, insider Jacqueline P. Canney sold 1,562 shares of the business’s stock in a transaction on Monday, August 18th. The shares were sold at an average price of $866.45, for a total transaction of $1,353,394.90. Following the completion of the transaction, the insider owned 3,027 shares of the company’s stock, valued at $2,622,744.15. The trade was a 34.04% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Gina Mastantuono sold 1,762 shares of the business’s stock in a transaction on Monday, August 18th. The stock was sold at an average price of $866.45, for a total transaction of $1,526,684.90. Following the transaction, the chief financial officer directly owned 12,228 shares of the company’s stock, valued at approximately $10,594,950.60. This represents a 12.59% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 18,976 shares of company stock worth $17,049,775. Insiders own 0.38% of the company’s stock.

ServiceNow Stock Down 1.3%

ServiceNow stock opened at $948.49 on Tuesday. The firm has a market cap of $197.29 billion, a price-to-earnings ratio of 119.46, a P/E/G ratio of 4.33 and a beta of 0.91. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.09 and a quick ratio of 1.09. ServiceNow, Inc. has a fifty-two week low of $678.66 and a fifty-two week high of $1,198.09. The firm has a fifty day moving average price of $922.33 and a two-hundred day moving average price of $924.52.

ServiceNow (NYSE:NOW) last released its earnings results on Wednesday, July 23rd. The information technology services provider reported $4.09 earnings per share for the quarter, topping analysts’ consensus estimates of $3.57 by $0.52. The firm had revenue of $3.22 billion during the quarter, compared to analyst estimates of $3.12 billion. ServiceNow had a net margin of 13.78% and a return on equity of 18.04%. The business’s revenue was up 22.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.13 EPS. As a group, analysts forecast that ServiceNow, Inc. will post 8.93 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts have weighed in on the stock. Wall Street Zen cut shares of ServiceNow from a “buy” rating to a “hold” rating in a research report on Saturday, August 30th. Barclays set a $1,210.00 price objective on shares of ServiceNow in a research report on Thursday, July 24th. Oppenheimer reiterated an “outperform” rating and set a $1,150.00 price objective (up from $1,100.00) on shares of ServiceNow in a research report on Thursday, July 24th. Piper Sandler lifted their price objective on shares of ServiceNow from $1,120.00 to $1,150.00 and gave the stock an “overweight” rating in a research report on Thursday, July 24th. Finally, Morgan Stanley reiterated an “equal weight” rating on shares of ServiceNow in a research report on Tuesday, July 8th. One research analyst has rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $1,115.20.

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.