Altus Wealth Group LLC Trims Stock Holdings in ServiceNow, Inc. (NYSE:NOW)

Altus Wealth Group LLC lowered its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 9.5% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 2,828 shares of the information technology services provider’s stock after selling 296 shares during the period. ServiceNow comprises approximately 1.1% of Altus Wealth Group LLC’s portfolio, making the stock its 21st biggest holding. Altus Wealth Group LLC’s holdings in ServiceNow were worth $2,529,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in NOW. Creekmur Asset Management LLC purchased a new stake in shares of ServiceNow during the first quarter worth about $25,000. Versant Capital Management Inc boosted its stake in ServiceNow by 466.7% during the second quarter. Versant Capital Management Inc now owns 34 shares of the information technology services provider’s stock valued at $27,000 after buying an additional 28 shares during the last quarter. EntryPoint Capital LLC boosted its stake in ServiceNow by 3,900.0% during 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 last quarter. Ridgewood Investments LLC bought a new position in ServiceNow during the second quarter valued at approximately $32,000. Finally, TFC Financial Management Inc. boosted 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 valued at $39,000 after buying an additional 42 shares during the last quarter. Hedge funds and other institutional investors own 87.18% of the company’s stock.

ServiceNow Trading Down 0.8 %

NOW traded down $7.24 during trading on Wednesday, hitting $910.71. 180,637 shares of the stock were exchanged, compared to its average volume of 1,267,080. The firm has a 50 day simple moving average of $878.83 and a 200 day simple moving average of $794.29. The firm has a market cap of $186.70 billion, a price-to-earnings ratio of 97.73, a P/E/G ratio of 5.63 and a beta of 0.99. ServiceNow, Inc. has a 1 year low of $527.24 and a 1 year high of $949.59. 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 released its quarterly earnings data on Wednesday, July 24th. The information technology services provider reported $3.13 EPS for the quarter, topping the consensus estimate of $2.85 by $0.28. The company had revenue of $2.63 billion for the quarter, compared to the consensus estimate of $2.61 billion. ServiceNow had a return on equity of 14.52% and a net margin of 11.51%. ServiceNow’s quarterly revenue was up 22.2% on a year-over-year basis. During the same period last year, the business posted $0.77 EPS. As a group, equities analysts expect that ServiceNow, Inc. will post 6.78 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on NOW shares. Stifel Nicolaus increased their price target on ServiceNow from $820.00 to $900.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Barclays increased their price target on ServiceNow from $890.00 to $980.00 and gave the company an “overweight” rating in a research note on Friday, October 11th. Truist Financial increased their price target on ServiceNow from $780.00 to $900.00 and gave the company a “hold” rating in a research note on Wednesday. TD Cowen increased their price target on ServiceNow from $900.00 to $1,000.00 and gave the company a “buy” rating in a research note on Monday. Finally, BMO Capital Markets raised their price objective on ServiceNow from $860.00 to $1,025.00 and gave the company an “outperform” rating in a research note on Thursday, October 10th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-four have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $927.62.

Insider Activity

In other news, CFO Gina Mastantuono sold 1,800 shares of ServiceNow stock in a transaction on 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 transaction, the chief financial officer now directly owns 11,490 shares in the company, valued at approximately $9,479,250. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, General Counsel Russell S. Elmer sold 1,937 shares of ServiceNow 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 directly owns 6,736 shares in the company, valued at approximately $5,252,800.16. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Gina Mastantuono sold 1,800 shares of ServiceNow stock in a transaction on Thursday, July 25th. The shares were 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. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 7,267 shares of company stock worth $5,935,447. 0.25% of the stock is currently owned by company insiders.

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.