ServiceNow, Inc. (NYSE:NOW) Shares Sold by Wedge Capital Management L L P NC

Wedge Capital Management L L P NC lessened its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 3.7% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 390 shares of the information technology services provider’s stock after selling 15 shares during the quarter. Wedge Capital Management L L P NC’s holdings in ServiceNow were worth $349,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of NOW. M&G Plc purchased a new stake in shares of ServiceNow in the 1st quarter valued at about $11,030,000. AXA S.A. raised its stake in ServiceNow by 1.1% in the 2nd quarter. AXA S.A. now owns 387,344 shares of the information technology services provider’s stock valued at $304,712,000 after purchasing an additional 4,271 shares during the last quarter. HWG Holdings LP purchased a new position in shares of ServiceNow during the second quarter valued at approximately $2,679,000. New Mexico Educational Retirement Board lifted its stake in shares of ServiceNow by 9.4% during the 1st quarter. New Mexico Educational Retirement Board now owns 11,650 shares of the information technology services provider’s stock worth $8,882,000 after purchasing an additional 1,000 shares during the period. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management lifted its position in ServiceNow by 375.6% during the first quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 1,365 shares of the information technology services provider’s stock worth $1,041,000 after buying an additional 1,078 shares during the period. Hedge funds and other institutional investors own 87.18% of the company’s stock.

Insider Activity at ServiceNow

In other news, CFO Gina Mastantuono sold 1,800 shares of ServiceNow stock in a transaction on 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 in the company, valued at approximately $9,479,250. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, CFO Gina Mastantuono sold 1,800 shares of the company’s stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $825.00, for a total transaction of $1,485,000.00. Following the sale, the chief financial officer now owns 11,490 shares in the company, valued at $9,479,250. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jacqueline P. Canney sold 353 shares of the stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $924.96, for a total value of $326,510.88. Following the completion of the transaction, the insider now owns 3,027 shares in the company, valued at approximately $2,799,853.92. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 7,267 shares of company stock valued at $5,935,447 over the last three months. 0.25% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on NOW shares. Citigroup boosted their price target on ServiceNow from $915.00 to $1,068.00 and gave the company a “buy” rating in a research report on Thursday. Robert W. Baird boosted their target price on shares of ServiceNow from $885.00 to $900.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Guggenheim restated a “sell” rating and set a $640.00 price objective on shares of ServiceNow in a research note on Monday, July 8th. Piper Sandler raised their target price on ServiceNow from $830.00 to $850.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th. Finally, Deutsche Bank Aktiengesellschaft raised their price target on ServiceNow from $875.00 to $900.00 and gave the company a “buy” rating in a report on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-five have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $914.15.

ServiceNow Price Performance

ServiceNow stock opened at $917.12 on Friday. The company has a market capitalization of $188.01 billion, a price-to-earnings ratio of 98.09, a PEG ratio of 5.63 and a beta of 0.99. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.17. ServiceNow, Inc. has a 12 month low of $527.24 and a 12 month high of $949.59. The stock’s 50 day moving average is $872.40 and its 200-day moving average is $790.68.

ServiceNow (NYSE:NOW) last posted its quarterly earnings data 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. ServiceNow had a return on equity of 14.52% and a net margin of 11.51%. The firm had revenue of $2.63 billion for the quarter, compared to analyst estimates of $2.61 billion. During the same quarter last year, the company earned $0.77 EPS. The company’s revenue was up 22.2% on a year-over-year basis. Equities research analysts expect that ServiceNow, Inc. will post 6.78 EPS 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.