Roman Butler Fullerton & Co. Trims Stake in ServiceNow, Inc. $NOW

Roman Butler Fullerton & Co. reduced its position in shares of ServiceNow, Inc. (NYSE:NOW) by 23.2% during the 2nd quarter, HoldingsChannel reports. The firm owned 315 shares of the information technology services provider’s stock after selling 95 shares during the period. Roman Butler Fullerton & Co.’s holdings in ServiceNow were worth $305,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Wealth Preservation Advisors LLC purchased a new position in shares of ServiceNow in the 1st quarter valued at $382,000. Corient IA LLC purchased a new position in shares of ServiceNow in the 1st quarter valued at $796,000. Parr Mcknight Wealth Management Group LLC purchased a new position in shares of ServiceNow in the 1st quarter valued at $1,820,000. ASR Vermogensbeheer N.V. purchased a new position in shares of ServiceNow in the 1st quarter valued at $19,278,000. Finally, Goldman Sachs Group Inc. increased its holdings in shares of ServiceNow by 131.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,480,526 shares of the information technology services provider’s stock valued at $1,178,706,000 after acquiring an additional 840,731 shares during the period. 87.18% of the stock is currently owned by hedge funds and other institutional investors.

ServiceNow Stock Up 0.4%

ServiceNow stock opened at $939.60 on Friday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.09 and a current ratio of 1.09. The business’s 50-day simple moving average is $916.59 and its two-hundred day simple moving average is $939.53. The company has a market cap of $195.44 billion, a PE ratio of 118.34, a PEG ratio of 4.21 and a beta of 0.92. ServiceNow, Inc. has a fifty-two week low of $678.66 and a fifty-two week high of $1,198.09.

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, beating the consensus estimate of $3.57 by $0.52. The business had revenue of $3.22 billion for the quarter, compared to the consensus estimate of $3.12 billion. ServiceNow had a return on equity of 18.04% and a net margin of 13.78%.The company’s quarterly revenue was up 22.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.13 EPS. Equities analysts anticipate that ServiceNow, Inc. will post 8.93 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on NOW shares. Bank of America lifted their price target on ServiceNow from $1,110.00 to $1,200.00 and gave the company a “buy” rating in a report on Thursday, July 24th. Weiss Ratings reiterated a “hold (c)” rating on shares of ServiceNow in a report on Wednesday, October 8th. Erste Group Bank restated a “hold” rating on shares of ServiceNow in a research note on Wednesday, July 23rd. Jefferies Financial Group boosted their target price on ServiceNow from $1,025.00 to $1,150.00 and gave the stock a “buy” rating in a research note on Thursday, July 24th. Finally, Wall Street Zen upgraded ServiceNow from a “hold” rating to a “buy” rating in a research note on Saturday, October 18th. Two investment analysts have 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 company. Based on data from MarketBeat, ServiceNow has an average rating of “Moderate Buy” and an average price target of $1,124.17.

Insider Buying and Selling at ServiceNow

In other ServiceNow news, CEO William R. Mcdermott sold 5,825 shares of the business’s stock in a transaction dated 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 sale, the chief executive officer owned 6,614 shares in the company, valued at approximately $6,062,590.82. The trade was a 46.83% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Paul Fipps sold 1,452 shares of the business’s stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $895.05, for a total value of $1,299,612.60. Following the sale, the insider owned 457 shares in the company, valued at approximately $409,037.85. The trade was a 76.06% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 18,737 shares of company stock worth $16,798,825. 0.38% of the stock is owned by corporate insiders.

ServiceNow Company 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.