ServiceNow, Inc. (NYSE:NOW) Shares Sold by SlateStone Wealth LLC

SlateStone Wealth LLC reduced its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 7.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 357 shares of the information technology services provider’s stock after selling 30 shares during the quarter. SlateStone Wealth LLC’s holdings in ServiceNow were worth $281,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. raised its holdings in ServiceNow by 1.8% during the first quarter. Vanguard Group Inc. now owns 18,450,570 shares of the information technology services provider’s stock worth $14,066,715,000 after purchasing an additional 331,797 shares in the last quarter. Norges Bank bought a new stake in shares of ServiceNow in the 4th quarter worth $1,648,259,000. Massachusetts Financial Services Co. MA boosted its stake in ServiceNow by 3.7% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,281,748 shares of the information technology services provider’s stock valued at $1,612,032,000 after buying an additional 81,028 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its stake in ServiceNow by 18.3% during the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 1,754,027 shares of the information technology services provider’s stock valued at $1,239,198,000 after buying an additional 271,153 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in 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 worth $1,203,157,000 after acquiring an additional 34,855 shares during the period. Institutional investors own 87.18% of the company’s stock.

Analyst Upgrades and Downgrades

NOW has been the subject of several recent analyst reports. Wolfe Research reaffirmed an “outperform” rating and issued a $830.00 target price on shares of ServiceNow in a research report on Friday, May 10th. William Blair restated an “outperform” rating on shares of ServiceNow in a research report on Tuesday, May 7th. Royal Bank of Canada upped their target price on ServiceNow from $850.00 to $880.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Stifel Nicolaus lifted their target price on shares of ServiceNow from $820.00 to $900.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on ServiceNow from $875.00 to $900.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and twenty-five have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $849.62.

ServiceNow Price Performance

Shares of NOW stock opened at $827.86 on Tuesday. The firm’s 50 day moving average price is $784.05 and its two-hundred day moving average price is $759.14. The stock has a market cap of $169.71 billion, a PE ratio of 88.54, a PEG ratio of 4.82 and a beta of 0.99. ServiceNow, Inc. has a 52-week low of $527.24 and a 52-week high of $850.33. 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 (NYSE:NOW) last announced its quarterly earnings results 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. The business had revenue of $2.63 billion for the quarter, compared to the consensus estimate of $2.61 billion. ServiceNow had a net margin of 11.51% and a return on equity of 14.52%. ServiceNow’s revenue for the quarter was up 22.2% on a year-over-year basis. During the same period last year, the company posted $0.77 EPS. As a group, analysts forecast that ServiceNow, Inc. will post 6.84 EPS for the current year.

Insider Activity at ServiceNow

In other ServiceNow news, insider Nicholas Tzitzon sold 2,000 shares of ServiceNow stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $690.99, for a total transaction of $1,381,980.00. Following the transaction, the insider now directly owns 3,649 shares in the company, valued at $2,521,422.51. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other ServiceNow news, insider Nicholas Tzitzon sold 2,000 shares of the stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $690.99, for a total value of $1,381,980.00. Following the completion of the sale, the insider now directly owns 3,649 shares in the company, valued at $2,521,422.51. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jacqueline P. Canney sold 94 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $825.92, for a total transaction of $77,636.48. Following the sale, the insider now owns 4,019 shares in the company, valued at $3,319,372.48. The disclosure for this sale can be found here. Insiders sold a total of 7,272 shares of company stock worth $5,600,700 in the last quarter. Corporate 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.