ServiceNow, Inc. $NOW Shares Sold by Parsons Capital Management Inc. RI

Parsons Capital Management Inc. RI lessened its stake in ServiceNow, Inc. (NYSE:NOW) by 1.2% during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,355 shares of the information technology services provider’s stock after selling 17 shares during the quarter. Parsons Capital Management Inc. RI’s holdings in ServiceNow were worth $1,393,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Wealth Preservation Advisors LLC bought a new position in ServiceNow in the first quarter worth about $382,000. Corient IA LLC bought a new position in ServiceNow in the first quarter worth about $796,000. Parr Mcknight Wealth Management Group LLC bought a new position in ServiceNow in the first quarter worth about $1,820,000. Goldman Sachs Group Inc. lifted its holdings in ServiceNow by 131.4% in the first quarter. Goldman Sachs Group Inc. now owns 1,480,526 shares of the information technology services provider’s stock worth $1,178,706,000 after acquiring an additional 840,731 shares during the last quarter. Finally, ASR Vermogensbeheer N.V. bought a new position in ServiceNow in the first quarter worth about $19,278,000. Institutional investors and hedge funds own 87.18% of the company’s stock.

Analyst Ratings Changes

Several brokerages have commented on NOW. DA Davidson raised their price target on shares of ServiceNow from $1,150.00 to $1,250.00 and gave the company a “buy” rating in a research note on Thursday, July 24th. Barclays set a $1,210.00 price target on shares of ServiceNow in a research note on Thursday, July 24th. Erste Group Bank restated a “hold” rating on shares of ServiceNow in a research note on Wednesday, July 23rd. Cantor Fitzgerald restated an “overweight” rating and issued a $1,200.00 price target on shares of ServiceNow in a research note on Thursday, July 24th. Finally, Bank of America raised their price target on shares of 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 research analyst has rated the stock with a Strong Buy rating, thirty have given a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, ServiceNow presently has an average rating of “Moderate Buy” and an average price target of $1,122.20.

Insider Activity

In related news, Vice Chairman Nicholas Tzitzon sold 1,719 shares of the firm’s stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $866.45, for a total transaction of $1,489,427.55. Following the completion of the sale, the insider directly owned 3,000 shares in the company, valued at approximately $2,599,350. This trade represents a 36.43% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Anita M. Sands sold 1,097 shares of the firm’s stock in a transaction that occurred on Friday, August 29th. The stock was sold at an average price of $915.11, for a total transaction of $1,003,875.67. Following the sale, the director owned 9,307 shares of the company’s stock, valued at $8,516,928.77. The trade was a 10.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 18,737 shares of company stock valued at $16,798,825 in the last ninety days. 0.38% of the stock is owned by company insiders.

ServiceNow Trading Down 0.3%

ServiceNow stock opened at $909.88 on Friday. The firm has a 50 day simple moving average of $915.79 and a 200-day simple moving average of $928.77. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.09 and a quick ratio of 1.09. The stock has a market capitalization of $189.26 billion, a PE ratio of 114.59, a price-to-earnings-growth ratio of 4.11 and a beta of 0.92. ServiceNow, Inc. has a 12-month low of $678.66 and a 12-month high of $1,198.09.

ServiceNow (NYSE:NOW) last issued 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 analysts’ expectations of $3.12 billion. ServiceNow had a net margin of 13.78% and a return on equity of 18.04%. The firm’s revenue for the quarter was up 22.4% compared to the same quarter last year. During the same period last year, the firm posted $3.13 earnings per share. As a group, equities research analysts expect that ServiceNow, Inc. will post 8.93 EPS 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.