1858 Wealth Management LLC Lowers Position in ServiceNow, Inc. (NYSE:NOW)

1858 Wealth Management LLC cut its position in shares of ServiceNow, Inc. (NYSE:NOW) by 7.5% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,105 shares of the information technology services provider’s stock after selling 170 shares during the quarter. ServiceNow makes up about 1.5% of 1858 Wealth Management LLC’s investment portfolio, making the stock its 19th largest position. 1858 Wealth Management LLC’s holdings in ServiceNow were worth $1,883,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of NOW. Creekmur Asset Management LLC bought a new position in shares of ServiceNow during the 1st quarter valued at about $25,000. Versant Capital Management Inc grew its position in 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. EntryPoint Capital LLC grew its position 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 worth $30,000 after acquiring an additional 39 shares during the last quarter. Ridgewood Investments LLC bought a new position in ServiceNow during the 2nd quarter worth approximately $32,000. Finally, TFC Financial Management Inc. grew its position in ServiceNow by 466.7% during the 1st 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 institutional investors.

Insider Buying and Selling

In related news, insider Jacqueline P. Canney sold 94 shares of ServiceNow stock in a transaction on Monday, August 19th. The stock was sold at an average price of $825.92, for a total value of $77,636.48. Following the completion of the sale, the insider now owns 4,019 shares of the company’s stock, valued at $3,319,372.48. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, insider Jacqueline P. Canney sold 94 shares of ServiceNow stock in a transaction on Monday, August 19th. The stock was sold at an average price of $825.92, for a total value of $77,636.48. Following the completion of the sale, the insider now owns 4,019 shares of the company’s stock, valued at $3,319,372.48. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Gina Mastantuono sold 1,800 shares of the business’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 sale, the chief financial officer now directly owns 11,490 shares of the company’s stock, valued at $9,479,250. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 7,267 shares of company stock valued at $5,935,447 over the last 90 days. Company insiders own 0.25% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on NOW shares. Barclays raised their price target on ServiceNow from $890.00 to $980.00 and gave the stock an “overweight” rating in a research report on Friday, October 11th. Mizuho increased their price objective on ServiceNow from $850.00 to $980.00 and gave the stock an “outperform” rating in a report on Thursday. JMP Securities increased their price objective on ServiceNow from $850.00 to $1,000.00 and gave the stock a “market outperform” rating in a report on Thursday. Truist Financial increased their price objective on ServiceNow from $750.00 to $780.00 and gave the stock a “hold” rating in a report on Thursday, July 25th. Finally, Robert W. Baird increased their price objective on ServiceNow from $885.00 to $900.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. One equities 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 company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $923.00.

ServiceNow Stock Down 1.6 %

Shares of ServiceNow stock traded down $14.41 on Monday, reaching $907.34. The company’s stock had a trading volume of 484,760 shares, compared to its average volume of 1,268,446. The company has a market capitalization of $186.00 billion, a price-to-earnings ratio of 96.47, a P/E/G ratio of 5.63 and a beta of 0.99. The firm’s fifty day simple moving average is $874.61 and its two-hundred day simple moving average is $792.22. ServiceNow, Inc. has a 52 week low of $527.24 and a 52 week high of $949.59. 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 (NYSE:NOW) last issued 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. ServiceNow had a return on equity of 14.52% and a net margin of 11.51%. The company had revenue of $2.63 billion during the quarter, compared to analyst estimates of $2.61 billion. During the same quarter in the previous year, the company posted $0.77 earnings per share. ServiceNow’s revenue was up 22.2% compared to the same quarter last year. Equities analysts anticipate that ServiceNow, Inc. will post 6.78 earnings per share for the current year.

ServiceNow Company 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.