ServiceNow, Inc. (NYSE:NOW) Shares Sold by Wallace Advisory Group LLC

Wallace Advisory Group LLC decreased its position in ServiceNow, Inc. (NYSE:NOW) by 24.0% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,650 shares of the information technology services provider’s stock after selling 522 shares during the quarter. ServiceNow accounts for approximately 0.9% of Wallace Advisory Group LLC’s holdings, making the stock its 24th largest position. Wallace Advisory Group LLC’s holdings in ServiceNow were worth $1,298,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Creekmur Asset Management LLC bought a new stake in shares of ServiceNow during the 1st quarter valued at about $25,000. Versant Capital Management Inc boosted its stake in ServiceNow by 466.7% in the second quarter. Versant Capital Management Inc now owns 34 shares of the information technology services provider’s stock valued at $27,000 after acquiring an additional 28 shares during the period. EntryPoint Capital LLC boosted its stake in ServiceNow by 3,900.0% in the first quarter. EntryPoint Capital LLC now owns 40 shares of the information technology services provider’s stock valued at $30,000 after acquiring an additional 39 shares during the period. University of Texas Texas AM Investment Managment Co. bought a new position in shares of ServiceNow during the fourth quarter valued at approximately $29,000. Finally, Ridgewood Investments LLC acquired a new stake in shares of ServiceNow during the 2nd quarter worth approximately $32,000. Institutional investors and hedge funds own 87.18% of the company’s stock.

Insiders Place Their Bets

In other news, insider Nicholas Tzitzon sold 1,857 shares of the firm’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 sale, 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 filing with the SEC, which is accessible through this hyperlink. In related news, CFO Gina Mastantuono sold 1,800 shares of ServiceNow stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $825.00, for a total value of $1,485,000.00. Following the transaction, the chief financial officer now owns 11,490 shares of the company’s stock, valued at approximately $9,479,250. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Nicholas Tzitzon sold 1,857 shares of the company’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $829.68, for a total transaction of $1,540,715.76. Following the sale, the insider now directly owns 3,649 shares of the company’s stock, valued at $3,027,502.32. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 6,914 shares of company stock worth $5,608,936. 0.25% of the stock is owned by insiders.

ServiceNow Price Performance

NYSE:NOW opened at $881.79 on Monday. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.17. The business’s 50-day moving average price is $837.59 and its 200 day moving average price is $776.29. ServiceNow, Inc. has a 52-week low of $527.24 and a 52-week high of $945.46. The firm has a market cap of $180.77 billion, a P/E ratio of 94.31, a PEG ratio of 5.55 and a beta of 0.98.

ServiceNow (NYSE:NOW) last announced its quarterly earnings data on Wednesday, July 24th. The information technology services provider reported $3.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.85 by $0.28. ServiceNow had a net margin of 11.51% and a return on equity of 14.52%. The company had revenue of $2.63 billion for the quarter, compared to analysts’ expectations of $2.61 billion. During the same quarter in the previous year, the company posted $0.77 EPS. The business’s revenue was up 22.2% compared to the same quarter last year. As a group, sell-side analysts predict that ServiceNow, Inc. will post 6.78 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on NOW. Canaccord Genuity Group restated a “buy” rating and set a $835.00 price objective on shares of ServiceNow in a research report on Tuesday, July 23rd. Needham & Company LLC reissued a “buy” rating and set a $900.00 price target on shares of ServiceNow in a report on Monday, September 9th. Truist Financial increased their price objective on shares of ServiceNow from $750.00 to $780.00 and gave the stock a “hold” rating in a report on Thursday, July 25th. Guggenheim reiterated a “sell” rating and issued a $640.00 price objective on shares of ServiceNow in a research report on Monday, July 8th. Finally, JMP Securities upped their target price on shares of ServiceNow from $825.00 to $850.00 and gave the stock a “market outperform” rating in a research report on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and twenty-four have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $855.44.

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.