Mount Yale Investment Advisors LLC Lowers Holdings in ServiceNow, Inc. (NYSE:NOW)

Mount Yale Investment Advisors LLC lowered its holdings in ServiceNow, Inc. (NYSE:NOW) by 4.9% during the third quarter, Holdings Channel.com reports. The firm owned 754 shares of the information technology services provider’s stock after selling 39 shares during the period. Mount Yale Investment Advisors LLC’s holdings in ServiceNow were worth $674,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of NOW. Vanguard Group Inc. raised its holdings in ServiceNow by 1.8% in the 1st quarter. Vanguard Group Inc. now owns 18,450,570 shares of the information technology services provider’s stock valued at $14,066,715,000 after buying an additional 331,797 shares during the period. Bank of New York Mellon Corp increased its position in shares of ServiceNow by 2.3% during the second quarter. Bank of New York Mellon Corp now owns 1,529,430 shares of the information technology services provider’s stock valued at $1,203,157,000 after acquiring an additional 34,855 shares during the last quarter. Swedbank AB raised its stake in shares of ServiceNow by 10.3% in the 2nd quarter. Swedbank AB now owns 1,298,722 shares of the information technology services provider’s stock valued at $1,021,666,000 after acquiring an additional 120,983 shares during the period. International Assets Investment Management LLC lifted its holdings in shares of ServiceNow by 89,137.0% in the 3rd quarter. International Assets Investment Management LLC now owns 1,185,067 shares of the information technology services provider’s stock worth $1,059,912,000 after acquiring an additional 1,183,739 shares during the last quarter. Finally, Ameriprise Financial Inc. boosted its position in shares of ServiceNow by 21.5% during the 2nd quarter. Ameriprise Financial Inc. now owns 954,045 shares of the information technology services provider’s stock worth $750,513,000 after purchasing an additional 168,734 shares during the period. Institutional investors and hedge funds own 87.18% of the company’s stock.

ServiceNow Stock Down 0.6 %

ServiceNow stock opened at $950.85 on Friday. The stock has a 50-day simple moving average of $885.56 and a 200-day simple moving average of $797.35. The company has a market capitalization of $195.88 billion, a P/E ratio of 171.94, a PEG ratio of 5.04 and a beta of 0.99. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.12 and a current ratio of 1.12. ServiceNow, Inc. has a fifty-two week low of $548.44 and a fifty-two week high of $979.78.

ServiceNow (NYSE:NOW) last posted its quarterly earnings data on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share for the quarter, beating the consensus estimate of $3.46 by $0.26. The business had revenue of $2.80 billion during the quarter, compared to the consensus estimate of $2.75 billion. ServiceNow had a return on equity of 14.52% and a net margin of 11.51%. The company’s revenue was up 22.2% compared to the same quarter last year. During the same period in the prior year, the company earned $1.21 earnings per share. Equities research analysts expect that ServiceNow, Inc. will post 7.41 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on NOW shares. Oppenheimer boosted their target price on ServiceNow from $825.00 to $1,020.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. Mizuho boosted their price objective on ServiceNow from $850.00 to $980.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. Morgan Stanley cut ServiceNow from an “overweight” rating to an “equal weight” rating and raised their target price for the company from $900.00 to $960.00 in a report on Monday, October 21st. Evercore ISI increased their price target on shares of ServiceNow from $950.00 to $1,000.00 and gave the stock an “outperform” rating in a research report on Thursday. Finally, Guggenheim reaffirmed a “sell” rating and set a $640.00 target price on shares of ServiceNow in a research note on Monday, July 8th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and twenty-five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $970.33.

Insider Buying and Selling

In other ServiceNow news, insider Jacqueline P. Canney sold 804 shares of ServiceNow stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $812.00, for a total value of $652,848.00. Following the transaction, the insider now directly owns 3,027 shares in the company, valued at approximately $2,457,924. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other ServiceNow news, insider Paul John Smith sold 187 shares of the stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $795.58, for a total transaction of $148,773.46. Following the completion of the sale, the insider now directly owns 3,779 shares of the company’s stock, valued at approximately $3,006,496.82. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jacqueline P. Canney sold 804 shares of the business’s stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $812.00, for a total value of $652,848.00. Following the completion of the transaction, the insider now directly owns 3,027 shares in the company, valued at approximately $2,457,924. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 5,467 shares of company stock worth $4,450,447 in the last 90 days. Company insiders own 0.25% of the company’s stock.

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.