DSC Advisors L.P. Sells 22 Shares of ServiceNow, Inc. (NYSE:NOW)

DSC Advisors L.P. reduced its position in shares of ServiceNow, Inc. (NYSE:NOW) by 7.4% in the second quarter, HoldingsChannel.com reports. The firm owned 276 shares of the information technology services provider’s stock after selling 22 shares during the period. ServiceNow comprises 0.7% of DSC Advisors L.P.’s investment portfolio, making the stock its 21st largest position. DSC Advisors L.P.’s holdings in ServiceNow were worth $217,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Delta Investment Management LLC lifted its stake in ServiceNow by 58.6% in the second quarter. Delta Investment Management LLC now owns 955 shares of the information technology services provider’s stock worth $751,000 after acquiring an additional 353 shares during the period. EDENTREE ASSET MANAGEMENT Ltd boosted its stake in shares of ServiceNow by 23.5% during the 2nd quarter. EDENTREE ASSET MANAGEMENT Ltd now owns 1,000 shares of the information technology services provider’s stock valued at $787,000 after purchasing an additional 190 shares in the last quarter. Ameriprise Financial Inc. boosted its position in ServiceNow by 21.5% during the 2nd quarter. Ameriprise Financial Inc. now owns 954,045 shares of the information technology services provider’s stock valued at $750,513,000 after acquiring an additional 168,734 shares in the last quarter. APG Asset Management N.V. raised its position in shares of ServiceNow by 3.0% in the 2nd quarter. APG Asset Management N.V. now owns 156,223 shares of the information technology services provider’s stock worth $114,668,000 after acquiring an additional 4,597 shares in the last quarter. Finally, APG Asset Management US Inc. lifted its stake in shares of ServiceNow by 2.4% in the 2nd quarter. APG Asset Management US Inc. now owns 64,216 shares of the information technology services provider’s stock valued at $50,664,000 after purchasing an additional 1,517 shares during the period. Institutional investors own 87.18% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on NOW. Truist Financial increased their price objective on ServiceNow from $750.00 to $780.00 and gave the stock a “hold” rating in a report on Thursday, July 25th. Piper Sandler upped their price objective on shares of ServiceNow from $830.00 to $850.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. TD Cowen lifted their target price on shares of ServiceNow from $870.00 to $900.00 and gave the company a “buy” rating in a report on Thursday, July 25th. Needham & Company LLC restated a “buy” rating and issued a $900.00 price target on shares of ServiceNow in a research note on Monday, September 9th. Finally, Robert W. Baird increased their target price on ServiceNow from $885.00 to $900.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-four have given a buy rating to the company’s stock. Based on data from MarketBeat, ServiceNow currently has a consensus rating of “Moderate Buy” and a consensus price target of $855.44.

ServiceNow Price Performance

Shares of ServiceNow stock opened at $890.03 on Thursday. The stock’s fifty day moving average is $828.97 and its 200 day moving average is $773.93. ServiceNow, Inc. has a one year low of $527.24 and a one year high of $945.46. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.12 and a current ratio of 1.12. The stock has a market cap of $182.46 billion, a P/E ratio of 95.19, a P/E/G ratio of 5.55 and a beta of 0.98.

ServiceNow (NYSE:NOW) last released its earnings results on Wednesday, July 24th. The information technology services provider reported $3.13 EPS for the quarter, topping analysts’ consensus estimates of $2.85 by $0.28. The company had revenue of $2.63 billion for the quarter, compared to analysts’ expectations of $2.61 billion. ServiceNow had a net margin of 11.51% and a return on equity of 14.52%. The firm’s revenue was up 22.2% compared to the same quarter last year. During the same quarter last year, the business earned $0.77 EPS. Sell-side analysts anticipate that ServiceNow, Inc. will post 6.78 earnings per share for the current year.

Insider Buying and Selling

In other ServiceNow news, General Counsel Russell S. Elmer sold 1,937 shares of the firm’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $779.81, for a total transaction of $1,510,491.97. Following the sale, the general counsel now directly owns 6,736 shares of the company’s stock, valued at $5,252,800.16. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, General Counsel Russell S. Elmer sold 1,937 shares of the company’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $779.81, for a total transaction of $1,510,491.97. Following the completion of the transaction, the general counsel now owns 6,736 shares in the company, valued at $5,252,800.16. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Gina Mastantuono sold 1,800 shares of the firm’s stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $825.00, for a total transaction of $1,485,000.00. Following the transaction, the chief financial officer now directly owns 11,490 shares of the company’s stock, valued at $9,479,250. The disclosure for this sale can be found here. In the last quarter, insiders sold 6,914 shares of company stock valued at $5,608,936. Company insiders own 0.25% 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.