BostonPremier Wealth LLC Lowers Holdings in ServiceNow, Inc. $NOW

BostonPremier Wealth LLC reduced its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 24.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 312 shares of the information technology services provider’s stock after selling 99 shares during the period. BostonPremier Wealth LLC’s holdings in ServiceNow were worth $321,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of NOW. Bogart Wealth LLC raised its stake in ServiceNow by 113.3% during the first quarter. Bogart Wealth LLC now owns 32 shares of the information technology services provider’s stock worth $25,000 after purchasing an additional 17 shares during the period. Graybill Wealth Management LTD. acquired a new stake in shares of ServiceNow during the 1st quarter worth $26,000. WASHINGTON TRUST Co raised its position in shares of ServiceNow by 620.0% in the 1st quarter. WASHINGTON TRUST Co now owns 36 shares of the information technology services provider’s stock worth $29,000 after buying an additional 31 shares during the period. Global X Japan Co. Ltd. purchased a new position in shares of ServiceNow in the 2nd quarter worth $30,000. Finally, Dagco Inc. acquired a new position in ServiceNow in the first quarter valued at $33,000. 87.18% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have recently commented on NOW shares. Erste Group Bank restated a “hold” rating on shares of ServiceNow in a report on Wednesday, July 23rd. DA Davidson increased their target price on shares of ServiceNow from $1,150.00 to $1,250.00 and gave the stock a “buy” rating in a research report on Thursday, July 24th. Raymond James Financial lifted their price target on shares of ServiceNow from $1,000.00 to $1,100.00 and gave the company an “outperform” rating in a research report on Thursday, July 24th. Bank of America boosted their price objective on shares of ServiceNow from $1,110.00 to $1,200.00 and gave the stock a “buy” rating in a research note on Thursday, July 24th. Finally, Morgan Stanley raised shares of ServiceNow from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $1,040.00 to $1,250.00 in a research note on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, thirty have issued a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $1,122.20.

ServiceNow Price Performance

NOW opened at $932.85 on Thursday. ServiceNow, Inc. has a twelve month low of $678.66 and a twelve month high of $1,198.09. The firm has a market cap of $194.03 billion, a price-to-earnings ratio of 117.49, a PEG ratio of 4.18 and a beta of 0.91. 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 fifty day simple moving average of $921.07 and a 200 day simple moving average of $924.60.

ServiceNow (NYSE:NOW) last issued its quarterly earnings data on Wednesday, July 23rd. The information technology services provider reported $4.09 EPS for the quarter, topping analysts’ consensus estimates of $3.57 by $0.52. The firm had revenue of $3.22 billion for 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 firm’s revenue was up 22.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.13 EPS. Equities research analysts expect that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

Insiders Place Their Bets

In other ServiceNow news, CFO Gina Mastantuono sold 1,762 shares of the company’s stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $866.45, for a total value of $1,526,684.90. Following the transaction, the chief financial officer directly owned 12,228 shares of the company’s stock, valued at $10,594,950.60. This represents a 12.59% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, General Counsel Russell S. Elmer sold 1,698 shares of the stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $884.26, for a total value of $1,501,473.48. Following the transaction, the general counsel owned 4,332 shares of the company’s stock, valued at approximately $3,830,614.32. This trade represents a 28.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 18,976 shares of company stock valued at $17,049,775. 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.