ServiceNow, Inc. (NYSE:NOW) Shares Sold by Verdence Capital Advisors LLC

Verdence Capital Advisors LLC cut its stake in ServiceNow, Inc. (NYSE:NOW) by 20.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,518 shares of the information technology services provider’s stock after selling 389 shares during the quarter. Verdence Capital Advisors LLC’s holdings in ServiceNow were worth $1,194,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of NOW. M&G Plc acquired a new stake in shares of ServiceNow in the first quarter worth approximately $11,030,000. Smithfield Trust Co lifted its holdings in ServiceNow by 36.4% in the 4th quarter. Smithfield Trust Co now owns 981 shares of the information technology services provider’s stock valued at $691,000 after purchasing an additional 262 shares in the last quarter. New Mexico Educational Retirement Board boosted its stake in 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 last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its holdings in shares of 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 in the last quarter. Finally, Summa Corp. acquired a new stake in shares of ServiceNow in the fourth quarter valued at about $381,000. 87.18% of the stock is currently owned by institutional investors and hedge funds.

ServiceNow Trading Down 0.0 %

NOW opened at $827.86 on Tuesday. The business has a fifty day moving average price of $784.05 and a 200 day moving average price of $759.14. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.12 and a quick ratio of 1.12. ServiceNow, Inc. has a 12 month low of $527.24 and a 12 month high of $850.33. The stock has a market capitalization of $169.71 billion, a price-to-earnings ratio of 88.54, a PEG ratio of 4.82 and a beta of 0.99.

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, beating the consensus estimate of $2.85 by $0.28. The business had revenue of $2.63 billion during the quarter, compared to analysts’ expectations of $2.61 billion. ServiceNow had a return on equity of 14.52% and a net margin of 11.51%. The business’s quarterly revenue was up 22.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.77 EPS. Sell-side analysts expect that ServiceNow, Inc. will post 6.84 earnings per share for the current fiscal year.

Insider Buying and Selling at ServiceNow

In related news, General Counsel Russell S. Elmer sold 1,937 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $779.81, for a total value of $1,510,491.97. Following the completion of the transaction, the general counsel now directly owns 6,736 shares of the company’s stock, valued at $5,252,800.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, General Counsel Russell S. Elmer sold 1,937 shares of the company’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $779.81, for a total value of $1,510,491.97. Following the completion of the sale, the general counsel now directly owns 6,736 shares of the company’s stock, valued at approximately $5,252,800.16. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Christopher Bedi sold 215 shares of the stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $700.00, for a total value of $150,500.00. Following the completion of the sale, the insider now directly owns 15,892 shares of the company’s stock, valued at $11,124,400. The disclosure for this sale can be found here. Insiders have sold a total of 7,272 shares of company stock worth $5,600,700 over the last ninety days. Corporate insiders own 0.25% of the company’s stock.

Analysts Set New Price Targets

NOW has been the topic of a number of recent research reports. Piper Sandler boosted their price target on shares of ServiceNow from $830.00 to $850.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. Deutsche Bank Aktiengesellschaft upped their price target on ServiceNow from $875.00 to $900.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. Needham & Company LLC reaffirmed a “buy” rating and issued a $900.00 price target on shares of ServiceNow in a report on Thursday, July 25th. Truist Financial boosted their price objective on ServiceNow from $750.00 to $780.00 and gave the stock a “hold” rating in a research note on Thursday, July 25th. Finally, JMP Securities raised their target price on ServiceNow from $825.00 to $850.00 and gave the stock a “market outperform” rating in a research note on Thursday, July 25th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $849.62.

ServiceNow Company 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.