ServiceNow, Inc. (NYSE:NOW) Shares Sold by Harbour Investments Inc.

Harbour Investments Inc. reduced its holdings in ServiceNow, Inc. (NYSE:NOW) by 8.9% during the 2nd quarter, Holdings Channel reports. The firm owned 236 shares of the information technology services provider’s stock after selling 23 shares during the quarter. Harbour Investments Inc.’s holdings in ServiceNow were worth $186,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Optas LLC grew its holdings in ServiceNow by 1.7% in the first quarter. Optas LLC now owns 815 shares of the information technology services provider’s stock valued at $621,000 after purchasing an additional 14 shares during the period. Cedar Wealth Management LLC boosted its stake in shares of ServiceNow by 5.5% in the first quarter. Cedar Wealth Management LLC now owns 268 shares of the information technology services provider’s stock worth $204,000 after acquiring an additional 14 shares during the last quarter. Forbes J M & Co. LLP boosted its stake in shares of ServiceNow by 0.3% in the first quarter. Forbes J M & Co. LLP now owns 5,293 shares of the information technology services provider’s stock worth $4,035,000 after acquiring an additional 15 shares during the last quarter. Regent Peak Wealth Advisors LLC boosted its stake in shares of ServiceNow by 3.9% in the first quarter. Regent Peak Wealth Advisors LLC now owns 400 shares of the information technology services provider’s stock worth $305,000 after acquiring an additional 15 shares during the last quarter. Finally, Davis R M Inc. boosted its stake in shares of ServiceNow by 3.0% in the first quarter. Davis R M Inc. now owns 513 shares of the information technology services provider’s stock worth $391,000 after acquiring an additional 15 shares during the last quarter. 87.18% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on NOW shares. Royal Bank of Canada lifted their price target on ServiceNow from $850.00 to $880.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. KeyCorp lowered their price target on ServiceNow from $950.00 to $920.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 2nd. Robert W. Baird lifted their price target on ServiceNow from $885.00 to $900.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Guggenheim reiterated a “sell” rating and set a $640.00 price objective on shares of ServiceNow in a research report on Monday, July 8th. Finally, Truist Financial lifted their price objective on ServiceNow from $750.00 to $780.00 and gave the stock a “hold” rating in a research report on Thursday, July 25th. One research analyst has rated the stock with a sell rating, two have given a hold rating and twenty-five have given a buy rating to the stock. Based on data from MarketBeat, ServiceNow has an average rating of “Moderate Buy” and a consensus price target of $849.62.

Insider Buying and Selling

In related news, insider Nicholas Tzitzon sold 1,857 shares of the business’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $829.68, for a total transaction of $1,540,715.76. Following the completion of the transaction, the insider now directly owns 3,649 shares of the company’s stock, valued at approximately $3,027,502.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Nicholas Tzitzon sold 1,857 shares of the business’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $829.68, for a total transaction of $1,540,715.76. Following the completion of the transaction, the insider now directly owns 3,649 shares of the company’s stock, valued at approximately $3,027,502.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Christopher Bedi sold 215 shares of the business’s stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $700.00, for a total value of $150,500.00. Following the transaction, the insider now directly owns 15,892 shares of the company’s stock, valued at $11,124,400. The disclosure for this sale can be found here. Insiders sold 7,129 shares of company stock valued at $5,759,436 in the last three months. 0.25% of the stock is owned by corporate insiders.

ServiceNow Trading Up 2.9 %

Shares of NYSE NOW opened at $855.00 on Friday. ServiceNow, Inc. has a twelve month low of $527.24 and a twelve month high of $857.25. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.17. The stock has a fifty day simple moving average of $789.70 and a 200-day simple moving average of $760.16. The stock has a market capitalization of $175.28 billion, a PE ratio of 91.44, a PEG ratio of 4.82 and a beta of 0.99.

ServiceNow (NYSE:NOW) last issued its quarterly earnings data on Wednesday, July 24th. The information technology services provider reported $3.13 earnings per share for the quarter, beating analysts’ consensus estimates of $2.85 by $0.28. ServiceNow had a return on equity of 14.52% and a net margin of 11.51%. The business had revenue of $2.63 billion during the quarter, compared to analysts’ expectations of $2.61 billion. During the same period in the previous year, the firm posted $0.77 earnings per share. The company’s revenue was up 22.2% on a year-over-year basis. On average, equities analysts forecast that ServiceNow, Inc. will post 6.84 earnings per share for the current year.

About ServiceNow

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.