Lake Street Private Wealth LLC Cuts Stock Holdings in ServiceNow, Inc. (NYSE:NOW)

Lake Street Private Wealth LLC trimmed its position in shares of ServiceNow, Inc. (NYSE:NOW) by 91.0% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 233 shares of the information technology services provider’s stock after selling 2,362 shares during the period. Lake Street Private Wealth LLC’s holdings in ServiceNow were worth $208,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Creekmur Asset Management LLC acquired a new stake in ServiceNow during the first quarter worth about $25,000. Versant Capital Management Inc increased its position in ServiceNow by 466.7% during the 2nd quarter. Versant Capital Management Inc now owns 34 shares of the information technology services provider’s stock worth $27,000 after purchasing an additional 28 shares in the last quarter. EntryPoint Capital LLC raised its holdings in ServiceNow by 3,900.0% in the first quarter. EntryPoint Capital LLC now owns 40 shares of the information technology services provider’s stock valued at $30,000 after buying an additional 39 shares during the period. Ridgewood Investments LLC acquired a new position in ServiceNow during the second quarter valued at approximately $32,000. Finally, TFC Financial Management Inc. grew its stake in ServiceNow by 466.7% during the first quarter. TFC Financial Management Inc. now owns 51 shares of the information technology services provider’s stock worth $39,000 after buying an additional 42 shares during the period. 87.18% of the stock is owned by hedge funds and other institutional investors.

ServiceNow Stock Down 1.1 %

NOW stock opened at $907.68 on Thursday. The firm’s 50-day moving average is $880.60 and its two-hundred day moving average is $795.09. The company has a market capitalization of $186.07 billion, a price-to-earnings ratio of 97.08, a price-to-earnings-growth ratio of 5.63 and a beta of 0.99. ServiceNow, Inc. has a 52 week low of $527.24 and a 52 week high of $949.59. 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 (NYSE:NOW) last issued its quarterly earnings results 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 company had revenue of $2.63 billion for 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 firm’s revenue for the quarter was up 22.2% on a year-over-year basis. During the same period last year, the firm earned $0.77 EPS. On average, analysts forecast that ServiceNow, Inc. will post 6.78 earnings per share for the current fiscal year.

Insider Buying and Selling

In other ServiceNow news, insider Jacqueline P. Canney sold 353 shares of the business’s stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $924.96, for a total value of $326,510.88. Following the sale, the insider now directly owns 3,027 shares in the company, valued at approximately $2,799,853.92. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, 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 transaction of $326,510.88. Following the completion of the sale, 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Nicholas Tzitzon sold 1,857 shares of ServiceNow stock in a transaction on Monday, August 26th. The stock was sold at an average price of $829.68, for a total value of $1,540,715.76. Following the completion of the transaction, the insider now owns 3,649 shares in the company, valued at $3,027,502.32. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 5,467 shares of company stock valued at $4,450,447 over the last three months. Company insiders own 0.25% of the company’s stock.

Analyst Ratings Changes

NOW has been the topic of several recent research reports. Citigroup lifted their target price on shares of ServiceNow from $915.00 to $1,068.00 and gave the company a “buy” rating in a report on Thursday, October 17th. TD Cowen upped their target price on ServiceNow from $900.00 to $1,000.00 and gave the stock a “buy” rating in a research report on Monday. UBS Group raised their target price on ServiceNow from $900.00 to $1,055.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. KeyCorp lowered their price objective on shares of ServiceNow from $950.00 to $920.00 and set an “overweight” rating for the company in a research report on Tuesday, July 2nd. Finally, Barclays boosted their target price on shares of ServiceNow from $890.00 to $980.00 and gave the stock an “overweight” rating in a research report on Friday, October 11th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-four have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $927.62.

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.