Leo Wealth LLC Decreases Stake in ServiceNow, Inc. (NYSE:NOW)

Leo Wealth LLC trimmed its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 60.8% in the third quarter, Holdings Channel.com reports. The fund owned 255 shares of the information technology services provider’s stock after selling 395 shares during the period. Leo Wealth LLC’s holdings in ServiceNow were worth $228,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Creekmur Asset Management LLC acquired a new position in ServiceNow during the first quarter worth about $25,000. Versant Capital Management Inc lifted its stake in ServiceNow by 466.7% in the 2nd 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 in the last quarter. EntryPoint Capital LLC grew its holdings in ServiceNow by 3,900.0% during the 1st 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 purchased a new position in ServiceNow during the second quarter worth $32,000. Finally, TFC Financial Management Inc. raised its holdings in shares of ServiceNow by 466.7% in the first quarter. TFC Financial Management Inc. now owns 51 shares of the information technology services provider’s stock worth $39,000 after acquiring an additional 42 shares during the last quarter. 87.18% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other ServiceNow news, 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 of the company’s stock, valued at $9,479,250. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other news, CFO Gina Mastantuono sold 1,800 shares of the firm’s stock in a transaction dated 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 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 transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, General Counsel Russell S. Elmer sold 1,937 shares of the business’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $779.81, for a total transaction of $1,510,491.97. Following the sale, the general counsel now directly owns 6,736 shares of the company’s stock, valued at approximately $5,252,800.16. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 7,267 shares of company stock worth $5,935,447. 0.25% of the stock is currently owned by insiders.

ServiceNow Trading Down 0.0 %

NYSE NOW opened at $917.92 on Wednesday. The company’s fifty day moving average price is $878.83 and its two-hundred day moving average price is $794.29. The company has a market capitalization of $188.17 billion, a price-to-earnings ratio of 98.17, a price-to-earnings-growth ratio of 5.63 and a beta of 0.99. ServiceNow, Inc. has a 12 month low of $527.24 and a 12 month high of $949.59. 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 (NYSE:NOW) last announced its quarterly earnings data 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. ServiceNow had a return on equity of 14.52% and a net margin of 11.51%. The firm had revenue of $2.63 billion during the quarter, compared to analyst estimates of $2.61 billion. During the same period in the previous year, the company earned $0.77 earnings per share. ServiceNow’s quarterly revenue was up 22.2% on a year-over-year basis. As a group, research analysts predict that ServiceNow, Inc. will post 6.78 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Truist Financial lifted their price objective on ServiceNow from $750.00 to $780.00 and gave the stock a “hold” 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. BMO Capital Markets raised their price objective on ServiceNow from $860.00 to $1,025.00 and gave the stock an “outperform” rating in a report on Thursday, October 10th. Wells Fargo & Company lifted their price target on ServiceNow from $935.00 to $1,025.00 and gave the company an “overweight” rating in a report on Monday, October 7th. Finally, Evercore ISI raised their target price on shares of ServiceNow from $850.00 to $950.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 9th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $923.00.

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.