Summit Global Investments Sells 7,743 Shares of ServiceNow, Inc. (NYSE:NOW)

Summit Global Investments lessened its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 68.2% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 3,612 shares of the information technology services provider’s stock after selling 7,743 shares during the period. Summit Global Investments’ holdings in ServiceNow were worth $3,230,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Quent Capital LLC grew its stake in ServiceNow by 4.1% in the 1st quarter. Quent Capital LLC now owns 770 shares of the information technology services provider’s stock worth $587,000 after acquiring an additional 30 shares in the last quarter. Csenge Advisory Group raised its holdings in shares of ServiceNow by 2.5% during the first quarter. Csenge Advisory Group now owns 794 shares of the information technology services provider’s stock worth $605,000 after purchasing an additional 19 shares during the last quarter. Envestnet Portfolio Solutions Inc. lifted its holdings in shares of ServiceNow by 0.4% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 25,280 shares of the information technology services provider’s stock valued at $19,273,000 after buying an additional 100 shares during the period. Wealthspire Advisors LLC boosted its position in ServiceNow by 3.4% in the 1st quarter. Wealthspire Advisors LLC now owns 1,683 shares of the information technology services provider’s stock worth $1,283,000 after purchasing an additional 56 shares in the last quarter. Finally, Hilltop National Bank purchased a new position in ServiceNow in the first quarter valued at $297,000. 87.18% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other ServiceNow news, insider Jacqueline P. Canney sold 94 shares of the company’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $825.92, for a total value of $77,636.48. Following the transaction, the insider now owns 4,019 shares of the company’s stock, valued at $3,319,372.48. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. In other ServiceNow news, insider Jacqueline P. Canney sold 94 shares of the company’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $825.92, for a total transaction of $77,636.48. Following the transaction, the insider now directly owns 4,019 shares in the company, valued at $3,319,372.48. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Paul Edward Chamberlain sold 135 shares of ServiceNow stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $822.00, for a total value of $110,970.00. Following the completion of the transaction, the director now directly owns 10,767 shares of the company’s stock, valued at approximately $8,850,474. This represents 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 sold 3,343 shares of company stock valued at $2,791,181. 0.25% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on NOW. Barclays upped their target price on ServiceNow from $980.00 to $1,000.00 and gave the stock an “overweight” rating in a research note on Thursday, October 24th. Evercore ISI upped their price objective on shares of ServiceNow from $950.00 to $1,000.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. KeyCorp lifted their target price on shares of ServiceNow from $1,020.00 to $1,040.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th. Royal Bank of Canada upped their price target on shares of ServiceNow from $985.00 to $1,045.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Finally, TD Cowen raised their price target on shares of ServiceNow from $900.00 to $1,000.00 and gave the company a “buy” rating in a research note on Monday, October 21st. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $970.33.

ServiceNow Stock Up 2.1 %

Shares of NYSE NOW opened at $1,015.45 on Friday. The company has a market capitalization of $209.18 billion, a P/E ratio of 157.92, a P/E/G ratio of 5.48 and a beta of 0.98. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.13 and a quick ratio of 1.13. The company has a 50 day simple moving average of $905.83 and a 200-day simple moving average of $809.18. ServiceNow, Inc. has a 1 year low of $615.54 and a 1 year high of $1,024.44.

ServiceNow (NYSE:NOW) last posted its earnings results on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.46 by $0.26. ServiceNow had a return on equity of 16.03% and a net margin of 12.77%. The company had revenue of $2.80 billion during the quarter, compared to analysts’ expectations of $2.75 billion. During the same quarter last year, the firm earned $1.21 earnings per share. The firm’s quarterly revenue was up 22.2% compared to the same quarter last year. On average, equities research analysts predict that ServiceNow, Inc. will post 7.07 earnings per share for the current year.

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.