Spartan Planning & Wealth Management Cuts Position in ServiceNow, Inc. (NYSE:NOW)

Spartan Planning & Wealth Management lessened its holdings in ServiceNow, Inc. (NYSE:NOW) by 75.6% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 100 shares of the information technology services provider’s stock after selling 309 shares during the period. Spartan Planning & Wealth Management’s holdings in ServiceNow were worth $71,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Sandbox Financial Partners LLC boosted its stake in shares of ServiceNow by 8.6% in the 4th quarter. Sandbox Financial Partners LLC now owns 835 shares of the information technology services provider’s stock worth $590,000 after buying an additional 66 shares during the last quarter. Federated Hermes Inc. lifted its stake in ServiceNow by 19.8% in the fourth quarter. Federated Hermes Inc. now owns 300,122 shares of the information technology services provider’s stock valued at $212,033,000 after purchasing an additional 49,631 shares during the last quarter. Raymond James & Associates lifted its stake in ServiceNow by 5.9% in the fourth quarter. Raymond James & Associates now owns 331,406 shares of the information technology services provider’s stock valued at $234,135,000 after purchasing an additional 18,442 shares during the last quarter. Smithfield Trust Co lifted its stake in ServiceNow by 36.4% in the fourth quarter. Smithfield Trust Co now owns 981 shares of the information technology services provider’s stock valued at $691,000 after purchasing an additional 262 shares during the last quarter. Finally, Dohj LLC purchased a new position in ServiceNow in the fourth quarter valued at approximately $913,000. Hedge funds and other institutional investors own 87.18% of the company’s stock.

ServiceNow Stock Down 0.4 %

Shares of NYSE:NOW opened at $725.36 on Tuesday. ServiceNow, Inc. has a 52-week low of $527.24 and a 52-week high of $815.32. The firm has a fifty day moving average of $726.49 and a 200 day moving average of $737.87. The firm has a market capitalization of $148.70 billion, a PE ratio of 77.58, a price-to-earnings-growth ratio of 4.57 and a beta of 0.96. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.05 and a current ratio of 1.05.

ServiceNow (NYSE:NOW) last announced its earnings results on Wednesday, April 24th. The information technology services provider reported $1.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.41 by $0.41. ServiceNow had a net margin of 20.34% and a return on equity of 13.59%. The company had revenue of $2.60 billion during the quarter, compared to analyst estimates of $2.59 billion. As a group, research analysts anticipate that ServiceNow, Inc. will post 6.5 EPS for the current fiscal year.

Wall Street Analyst Weigh In

NOW has been the topic of several research analyst reports. Jefferies Financial Group upped their price objective on ServiceNow from $885.00 to $900.00 and gave the company a “buy” rating in a research note on Wednesday, April 10th. William Blair reiterated an “outperform” rating on shares of ServiceNow in a research note on Tuesday, May 7th. Stifel Nicolaus reiterated a “buy” rating and issued a $820.00 price objective on shares of ServiceNow in a research note on Wednesday, March 20th. Wolfe Research reissued an “outperform” rating and set a $830.00 target price on shares of ServiceNow in a report on Friday, May 10th. Finally, BMO Capital Markets lowered their target price on shares of ServiceNow from $850.00 to $830.00 and set an “outperform” rating on the stock in a report on Thursday, April 25th. Three investment analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company. Based on data from MarketBeat, ServiceNow has a consensus rating of “Moderate Buy” and a consensus price target of $814.48.

Insider Buying and Selling at ServiceNow

In other ServiceNow news, insider Paul John Smith sold 125 shares of the company’s stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $727.38, for a total transaction of $90,922.50. Following the completion of the sale, the insider now directly owns 3,112 shares in the company, valued at $2,263,606.56. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, Director Frederic B. Luddy sold 598 shares of the stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $741.92, for a total transaction of $443,668.16. Following the completion of the sale, the director now directly owns 428 shares in the company, valued at $317,541.76. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Paul John Smith sold 125 shares of the stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $727.38, for a total transaction of $90,922.50. Following the sale, the insider now owns 3,112 shares of the company’s stock, valued at $2,263,606.56. The disclosure for this sale can be found here. Insiders sold a total of 5,530 shares of company stock worth $3,997,012 over the last three months. Company insiders own 0.25% of the company’s stock.

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.