ServiceNow, Inc. $NOW Shares Sold by GraniteShares Advisors LLC

GraniteShares Advisors LLC reduced its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 9.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,435 shares of the information technology services provider’s stock after selling 143 shares during the quarter. GraniteShares Advisors LLC’s holdings in ServiceNow were worth $1,475,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in NOW. Brighton Jones LLC increased its holdings in ServiceNow by 1.1% in the 4th quarter. Brighton Jones LLC now owns 2,753 shares of the information technology services provider’s stock valued at $2,919,000 after purchasing an additional 30 shares in the last quarter. Versant Capital Management Inc boosted its position in shares of ServiceNow by 66.5% in the first quarter. Versant Capital Management Inc now owns 268 shares of the information technology services provider’s stock worth $213,000 after buying an additional 107 shares during the period. AdvisorNet Financial Inc grew its stake in shares of ServiceNow by 20.9% in the first quarter. AdvisorNet Financial Inc now owns 156 shares of the information technology services provider’s stock valued at $124,000 after buying an additional 27 shares in the last quarter. Rothschild Investment LLC raised its holdings in shares of ServiceNow by 43.7% during the 1st quarter. Rothschild Investment LLC now owns 500 shares of the information technology services provider’s stock valued at $398,000 after buying an additional 152 shares during the period. Finally, BTC Capital Management Inc. lifted its position in ServiceNow by 32.9% during the 1st quarter. BTC Capital Management Inc. now owns 1,312 shares of the information technology services provider’s stock worth $1,045,000 after acquiring an additional 325 shares in the last quarter. Hedge funds and other institutional investors own 87.18% of the company’s stock.

ServiceNow Stock Up 2.0%

Shares of NYSE:NOW opened at $936.76 on Monday. The company’s fifty day moving average is $919.74 and its two-hundred day moving average is $927.82. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.09 and a current ratio of 1.09. ServiceNow, Inc. has a 1-year low of $678.66 and a 1-year high of $1,198.09. The stock has a market capitalization of $194.85 billion, a price-to-earnings ratio of 117.98, a price-to-earnings-growth ratio of 4.22 and a beta of 0.91.

ServiceNow (NYSE:NOW) last posted its quarterly earnings results on Wednesday, July 23rd. The information technology services provider reported $4.09 EPS for the quarter, beating the consensus estimate of $3.57 by $0.52. The business 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 company’s quarterly revenue was up 22.4% on a year-over-year basis. During the same period in the previous year, the business posted $3.13 EPS. Equities analysts anticipate that ServiceNow, Inc. will post 8.93 EPS for the current year.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. FBN Securities raised shares of ServiceNow to a “strong-buy” rating in a research report on Wednesday, June 11th. DA Davidson raised their target price on ServiceNow from $1,150.00 to $1,250.00 and gave the company a “buy” rating in a research note on Thursday, July 24th. Needham & Company LLC boosted their price target on ServiceNow from $1,050.00 to $1,200.00 and gave the stock a “buy” rating in a research note on Thursday, July 24th. Raymond James Financial lifted their price objective on ServiceNow from $1,000.00 to $1,100.00 and gave the stock an “outperform” rating in a report on Thursday, July 24th. Finally, Bank of America increased their target price on ServiceNow from $1,110.00 to $1,200.00 and gave the company a “buy” rating in a research note on Thursday, July 24th. One analyst has rated the stock with a Strong Buy rating, thirty have assigned a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, ServiceNow currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,122.20.

Insider Buying and Selling at ServiceNow

In other ServiceNow news, insider Paul Fipps sold 1,452 shares of the firm’s stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $895.05, for a total value of $1,299,612.60. Following the sale, the insider directly owned 457 shares in the company, valued at approximately $409,037.85. This trade represents a 76.06% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO William R. Mcdermott sold 5,825 shares of the business’s stock in a transaction on Thursday, August 28th. The shares were sold at an average price of $916.63, for a total transaction of $5,339,369.75. Following the transaction, the chief executive officer directly owned 6,614 shares of the company’s stock, valued at approximately $6,062,590.82. This trade represents a 46.83% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 18,976 shares of company stock worth $17,049,775. Corporate insiders own 0.38% of the company’s stock.

About ServiceNow

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.