Beacon Investment Advisory Services Inc. Lowers Position in ServiceNow, Inc. (NYSE:NOW)

Beacon Investment Advisory Services Inc. trimmed its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 4.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,217 shares of the information technology services provider’s stock after selling 165 shares during the quarter. Beacon Investment Advisory Services Inc.’s holdings in ServiceNow were worth $2,877,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the business. Versant Capital Management Inc lifted its holdings in shares of 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 acquiring an additional 28 shares during the last quarter. Mather Group LLC. lifted its holdings in shares of ServiceNow by 13.1% in the 2nd quarter. Mather Group LLC. now owns 3,476 shares of the information technology services provider’s stock worth $2,650,000 after acquiring an additional 402 shares during the last quarter. Trust Co. of Vermont boosted its stake in shares of ServiceNow by 64.4% in the 2nd quarter. Trust Co. of Vermont now owns 462 shares of the information technology services provider’s stock valued at $363,000 after purchasing an additional 181 shares in the last quarter. Fulton Bank N.A. raised its position in ServiceNow by 14.4% in the 2nd quarter. Fulton Bank N.A. now owns 1,689 shares of the information technology services provider’s stock worth $1,329,000 after purchasing an additional 212 shares during the period. Finally, Harbor Capital Advisors Inc. lifted its stake in ServiceNow by 7.2% in the second quarter. Harbor Capital Advisors Inc. now owns 7,239 shares of the information technology services provider’s stock worth $5,695,000 after purchasing an additional 489 shares during the last quarter. 87.18% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. Wells Fargo & Company lifted their price target on ServiceNow from $1,050.00 to $1,150.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 12th. UBS Group upped their price target on shares of ServiceNow from $900.00 to $1,055.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. Stifel Nicolaus raised their price target on shares of ServiceNow from $900.00 to $990.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Needham & Company LLC upped their price objective on shares of ServiceNow from $1,075.00 to $1,150.00 and gave the company a “buy” rating in a research note on Monday, November 25th. Finally, JMP Securities raised their target price on ServiceNow from $850.00 to $1,000.00 and gave the stock a “market outperform” rating in a research note on Thursday, October 17th. One analyst has rated the stock with a sell rating, two have given a hold rating, twenty-six have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $989.07.

ServiceNow Trading Up 0.8 %

NYSE:NOW opened at $1,049.44 on Monday. The stock has a market cap of $216.18 billion, a price-to-earnings ratio of 163.21, a PEG ratio of 6.02 and a beta of 0.98. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.16. The company’s 50 day moving average price is $963.10 and its 200-day moving average price is $847.50. ServiceNow, Inc. has a 52 week low of $637.99 and a 52 week high of $1,072.84.

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

Insider Activity

In other ServiceNow news, insider Jacqueline P. Canney sold 76 shares of the stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $1,010.94, for a total value of $76,831.44. Following the transaction, the insider now directly owns 3,027 shares in the company, valued at approximately $3,060,115.38. This trade represents a 2.45 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel Russell S. Elmer sold 81 shares of the business’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $1,016.54, for a total transaction of $82,339.74. Following the sale, the general counsel now directly owns 6,843 shares of the company’s stock, valued at approximately $6,956,183.22. The trade was a 1.17 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 20,329 shares of company stock valued at $20,547,241 over the last three months. Insiders own 0.25% of the company’s stock.

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.