ServiceNow, Inc. $NOW Stock Holdings Cut by IFP Advisors Inc

IFP Advisors Inc reduced its position in shares of ServiceNow, Inc. (NYSE:NOW) by 2.0% in the second quarter, HoldingsChannel.com reports. The firm owned 4,797 shares of the information technology services provider’s stock after selling 96 shares during the period. IFP Advisors Inc’s holdings in ServiceNow were worth $4,932,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of NOW. Bogart Wealth LLC lifted its position in shares of ServiceNow by 113.3% during the 1st quarter. Bogart Wealth LLC now owns 32 shares of the information technology services provider’s stock valued at $25,000 after acquiring an additional 17 shares during the last quarter. Graybill Wealth Management LTD. acquired a new stake in shares of ServiceNow during the 1st quarter valued at $26,000. WASHINGTON TRUST Co lifted its position in shares of ServiceNow by 620.0% during the 1st quarter. WASHINGTON TRUST Co now owns 36 shares of the information technology services provider’s stock valued at $29,000 after acquiring an additional 31 shares during the last quarter. Global X Japan Co. Ltd. acquired a new stake in shares of ServiceNow during the 2nd quarter valued at $30,000. Finally, Dagco Inc. acquired a new stake in shares of ServiceNow during the 1st quarter valued at $33,000. Institutional investors and hedge funds own 87.18% of the company’s stock.

ServiceNow Trading Up 0.3%

NYSE NOW opened at $917.21 on Friday. ServiceNow, Inc. has a 1-year low of $678.66 and a 1-year high of $1,198.09. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.14. The company has a market capitalization of $190.78 billion, a PE ratio of 115.52, a price-to-earnings-growth ratio of 4.12 and a beta of 0.92. The firm’s fifty day simple moving average is $909.72 and its 200-day simple moving average is $931.43.

ServiceNow (NYSE:NOW) last posted its quarterly 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. ServiceNow had a net margin of 13.78% and a return on equity of 18.04%. The business had revenue of $3.22 billion for the quarter, compared to the consensus estimate of $3.12 billion. During the same period in the prior year, the business posted $3.13 earnings per share. ServiceNow’s revenue for the quarter was up 22.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that ServiceNow, Inc. will post 8.93 earnings per share for the current fiscal year.

Analyst Ratings Changes

NOW has been the subject of a number of recent research reports. Wells Fargo & Company increased their price objective on ServiceNow from $1,150.00 to $1,225.00 and gave the company an “overweight” rating in a research report on Thursday, July 24th. Piper Sandler increased their target price on ServiceNow from $1,120.00 to $1,150.00 and gave the company an “overweight” rating in a report on Thursday, July 24th. Guggenheim restated a “sell” rating and issued a $724.00 target price on shares of ServiceNow in a report on Thursday, July 17th. Cantor Fitzgerald restated an “overweight” rating and issued a $1,200.00 target price on shares of ServiceNow in a report on Thursday, July 24th. Finally, BMO Capital Markets increased their target price on ServiceNow from $1,150.00 to $1,160.00 and gave the company an “outperform” rating in a report on Thursday, July 24th. One investment analyst has rated the stock with a Strong Buy rating, thirty have issued a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, ServiceNow currently has an average rating of “Moderate Buy” and a consensus price target of $1,122.20.

Insiders Place Their Bets

In other news, CEO William R. Mcdermott sold 5,825 shares of the company’s stock in a transaction on Thursday, August 28th. The shares were sold at an average price of $916.63, for a total value 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 represents a 46.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Jacqueline P. Canney sold 1,562 shares of the company’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 $1,353,394.90. Following the completion of the transaction, the insider directly owned 3,027 shares in the company, valued at $2,622,744.15. This trade represents a 34.04% 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 three months. Company insiders own 0.38% of the company’s stock.

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.