ServiceNow, Inc. (NYSE:NOW) Shares Sold by Torray Investment Partners LLC

Torray Investment Partners LLC lowered its stake in ServiceNow, Inc. (NYSE:NOW) by 0.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 11,034 shares of the information technology services provider’s stock after selling 41 shares during the quarter. Torray Investment Partners LLC’s holdings in ServiceNow were worth $8,680,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. M&G Plc acquired a new stake in shares of ServiceNow in the 1st quarter worth approximately $11,030,000. Smithfield Trust Co boosted its stake in ServiceNow by 36.4% during 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 increased its position in shares of 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 valued at $8,882,000 after purchasing an additional 1,000 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its stake in shares of ServiceNow by 375.6% in the 1st 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, Wealthspire Advisors LLC lifted its holdings in shares of ServiceNow by 3.4% in the first quarter. Wealthspire Advisors LLC now owns 1,683 shares of the information technology services provider’s stock valued at $1,283,000 after buying an additional 56 shares during the period. Institutional investors own 87.18% of the company’s stock.

Wall Street Analyst Weigh In

NOW has been the topic of several research reports. BMO Capital Markets boosted their price target on shares of ServiceNow from $830.00 to $860.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Truist Financial increased their target price on shares of ServiceNow from $750.00 to $780.00 and gave the company a “hold” rating in a research note on Thursday, July 25th. JPMorgan Chase & Co. lifted their price target on shares of ServiceNow from $780.00 to $820.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. JMP Securities upped their price target on ServiceNow from $825.00 to $850.00 and gave the company a “market outperform” rating in a report on Thursday, July 25th. Finally, TD Cowen raised their price objective on ServiceNow from $870.00 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 issued a buy rating to the company. According to data from MarketBeat.com, ServiceNow presently has a consensus rating of “Moderate Buy” and a consensus target price of $849.62.

Insider Buying and Selling

In other ServiceNow news, insider Nicholas Tzitzon sold 1,857 shares of the stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $829.68, for a total transaction of $1,540,715.76. Following the transaction, the insider now owns 3,649 shares in the company, valued at $3,027,502.32. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other ServiceNow news, insider Nicholas Tzitzon sold 1,857 shares of the company’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $829.68, for a total transaction of $1,540,715.76. Following the completion of the sale, the insider now directly owns 3,649 shares in the company, valued at $3,027,502.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Gina Mastantuono sold 1,800 shares of ServiceNow stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $825.00, for a total value 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 disclosure for this sale can be found here. In the last ninety days, insiders sold 6,914 shares of company stock worth $5,608,936. 0.25% of the stock is currently owned by insiders.

ServiceNow Stock Down 1.2 %

Shares of NOW traded down $10.36 during mid-day trading on Friday, hitting $825.04. 1,070,842 shares of the company’s stock were exchanged, compared to its average volume of 1,286,472. The company has a quick ratio of 1.12, a current 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 $863.85. The firm has a fifty day moving average of $799.33 and a two-hundred day moving average of $762.78. The stock has a market cap of $169.13 billion, a price-to-earnings ratio of 88.28, a P/E/G ratio of 5.13 and a beta of 0.99.

ServiceNow (NYSE:NOW) last posted its earnings results on Wednesday, July 24th. The information technology services provider reported $3.13 earnings per share 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 analyst estimates of $2.61 billion. ServiceNow had a return on equity of 14.52% and a net margin of 11.51%. The business’s revenue was up 22.2% compared to the same quarter last year. During the same period last year, the company earned $0.77 earnings per share. On average, sell-side analysts forecast that ServiceNow, Inc. will post 6.78 earnings per share for the current year.

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.