ServiceNow, Inc. $NOW Stock Holdings Lowered by IFC Advisors LLC

IFC Advisors LLC reduced its holdings in ServiceNow, Inc. (NYSE:NOW) by 9.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 514 shares of the information technology services provider’s stock after selling 51 shares during the quarter. IFC Advisors LLC’s holdings in ServiceNow were worth $528,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in NOW. Brighton Jones LLC raised its holdings in shares of ServiceNow by 1.1% in the 4th quarter. Brighton Jones LLC now owns 2,753 shares of the information technology services provider’s stock worth $2,919,000 after purchasing an additional 30 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of ServiceNow by 10.0% in the 1st quarter. GAMMA Investing LLC now owns 3,378 shares of the information technology services provider’s stock worth $2,689,000 after purchasing an additional 308 shares in the last quarter. Stock Yards Bank & Trust Co. raised its holdings in shares of ServiceNow by 79.7% in the 1st quarter. Stock Yards Bank & Trust Co. now owns 496 shares of the information technology services provider’s stock worth $395,000 after purchasing an additional 220 shares in the last quarter. Dynamic Advisor Solutions LLC bought a new stake in shares of ServiceNow in the 1st quarter worth approximately $1,275,000. Finally, Ritholtz Wealth Management raised its holdings in shares of ServiceNow by 12.3% in the 1st quarter. Ritholtz Wealth Management now owns 2,868 shares of the information technology services provider’s stock worth $2,283,000 after purchasing an additional 315 shares in the last quarter. 87.18% of the stock is currently owned by institutional investors.

ServiceNow Stock Performance

Shares of NOW opened at $923.44 on Tuesday. The company’s 50 day moving average price is $909.24 and its 200 day moving average price is $933.88. ServiceNow, Inc. has a 52 week low of $678.66 and a 52 week high of $1,198.09. The company has a market capitalization of $192.07 billion, a PE ratio of 116.30, a PEG ratio of 4.00 and a beta of 0.92. 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 (NYSE:NOW) last announced its quarterly earnings data on Wednesday, July 23rd. The information technology services provider reported $4.09 EPS for the quarter, beating 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 firm had revenue of $3.22 billion for the quarter, compared to the consensus estimate of $3.12 billion. During the same period in the previous year, the firm posted $3.13 earnings per share. The firm’s revenue was up 22.4% on a year-over-year basis. Research analysts expect that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

Wall Street Analyst Weigh In

NOW has been the topic of several analyst reports. Citigroup lifted their target price on shares of ServiceNow from $1,160.00 to $1,234.00 and gave the stock a “buy” rating in a research report on Thursday, July 24th. Guggenheim reissued a “sell” rating and issued a $724.00 target price on shares of ServiceNow in a research report on Thursday, July 17th. Barclays set a $1,210.00 target price on shares of ServiceNow in a research report on Thursday, July 24th. Cantor Fitzgerald reissued an “overweight” rating and issued a $1,200.00 target price on shares of ServiceNow in a research report on Thursday, July 24th. Finally, Oppenheimer reissued an “outperform” rating and issued a $1,150.00 target price (up from $1,100.00) on shares of ServiceNow in a research report on Thursday, July 24th. One analyst has rated the stock with a Strong Buy rating, thirty have assigned a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $1,121.37.

Insider Activity

In other ServiceNow news, Vice Chairman Nicholas Tzitzon sold 1,719 shares of the business’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 value of $1,489,427.55. Following the completion of the sale, the insider directly owned 3,000 shares of the company’s stock, valued at $2,599,350. The trade was a 36.43% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO William R. Mcdermott sold 5,825 shares of the business’s stock in a transaction that occurred on Thursday, August 28th. The stock was sold at an average price of $916.63, for a total transaction of $5,339,369.75. Following the completion of the sale, the chief executive officer directly owned 6,614 shares of the company’s stock, valued at $6,062,590.82. This represents a 46.83% 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. 0.38% of the stock is currently owned by insiders.

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.