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

Wallace Advisory Group LLC cut its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 1.8% in the 3rd quarter, Holdings Channel reports. The fund owned 1,621 shares of the information technology services provider’s stock after selling 29 shares during the quarter. ServiceNow accounts for approximately 1.0% of Wallace Advisory Group LLC’s portfolio, making the stock its 21st biggest position. Wallace Advisory Group LLC’s holdings in ServiceNow were worth $1,450,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Creekmur Asset Management LLC acquired a new stake in shares of ServiceNow in the 1st quarter valued at approximately $25,000. Versant Capital Management Inc grew its holdings 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 purchasing an additional 28 shares during the last quarter. University of Texas Texas AM Investment Managment Co. purchased a new position in shares of ServiceNow in the fourth quarter valued at $29,000. EntryPoint Capital LLC raised its stake in shares of ServiceNow by 3,900.0% during the 1st quarter. EntryPoint Capital LLC now owns 40 shares of the information technology services provider’s stock worth $30,000 after buying an additional 39 shares during the last quarter. Finally, Ridgewood Investments LLC purchased a new stake in shares of ServiceNow in the 2nd quarter worth about $32,000. 87.18% of the stock is owned by institutional investors and hedge funds.

ServiceNow Stock Performance

ServiceNow stock traded up $27.04 during mid-day trading on Friday, reaching $917.68. The company’s stock had a trading volume of 1,183,626 shares, compared to its average volume of 1,285,470. 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 twelve month low of $527.24 and a twelve month high of $945.46. The business has a 50 day moving average price of $848.43 and a 200-day moving average price of $780.59. The firm has a market cap of $188.12 billion, a price-to-earnings ratio of 98.16, a PEG ratio of 5.55 and a beta of 0.99.

ServiceNow (NYSE:NOW) last posted its quarterly earnings results on Wednesday, July 24th. The information technology services provider reported $3.13 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 analyst estimates of $2.61 billion. ServiceNow had a net margin of 11.51% and a return on equity of 14.52%. The company’s quarterly revenue was up 22.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.77 EPS. Sell-side analysts predict that ServiceNow, Inc. will post 6.78 EPS for the current fiscal year.

Insider Transactions at ServiceNow

In related news, CFO Gina Mastantuono sold 1,800 shares of the business’s stock in a transaction that occurred on 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 completion of the transaction, the chief financial officer now owns 11,490 shares in the company, valued at $9,479,250. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CFO Gina Mastantuono sold 1,800 shares of the company’s stock in a transaction on 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 completion of the transaction, the chief financial officer now directly 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel Russell S. Elmer sold 1,937 shares of the company’s stock in a transaction 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 transaction, the general counsel now owns 6,736 shares of the company’s stock, valued at approximately $5,252,800.16. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 6,914 shares of company stock worth $5,608,936. 0.25% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

NOW has been the topic of a number of analyst reports. Wells Fargo & Company increased their price objective on ServiceNow from $920.00 to $935.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th. Robert W. Baird boosted their price objective on shares of ServiceNow from $885.00 to $900.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Needham & Company LLC restated a “buy” rating and set a $900.00 target price on shares of ServiceNow in a research report on Monday, September 9th. Deutsche Bank Aktiengesellschaft boosted 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. Finally, Guggenheim reaffirmed a “sell” rating and issued a $640.00 price objective on shares of ServiceNow in a research report on Monday, July 8th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price 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.