ServiceNow, Inc. (NYSE:NOW) Shares Sold by Stoneridge Investment Partners LLC

Stoneridge Investment Partners LLC lessened its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 51.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 763 shares of the information technology services provider’s stock after selling 799 shares during the quarter. Stoneridge Investment Partners LLC’s holdings in ServiceNow were worth $682,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Quent Capital LLC lifted its holdings in shares of ServiceNow by 4.1% in the first quarter. Quent Capital LLC now owns 770 shares of the information technology services provider’s stock valued at $587,000 after buying an additional 30 shares during the period. Rehmann Capital Advisory Group lifted its holdings in ServiceNow by 14.2% in the 1st quarter. Rehmann Capital Advisory Group now owns 1,350 shares of the information technology services provider’s stock valued at $1,029,000 after acquiring an additional 168 shares during the last quarter. Catalina Capital Group LLC bought a new position in shares of ServiceNow during the 1st quarter valued at about $439,000. Signaturefd LLC grew its stake in shares of ServiceNow by 6.9% in the 1st quarter. Signaturefd LLC now owns 3,610 shares of the information technology services provider’s stock worth $2,752,000 after purchasing an additional 233 shares during the last quarter. Finally, Eos Management L.P. bought a new stake in shares of ServiceNow in the 1st quarter worth approximately $488,000. Institutional investors own 87.18% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on NOW shares. Guggenheim restated a “sell” rating and set a $640.00 target price on shares of ServiceNow in a report on Monday, July 8th. Morgan Stanley lowered ServiceNow from an “overweight” rating to an “equal weight” rating and raised their price objective for the stock from $900.00 to $960.00 in a research note on Monday, October 21st. Sanford C. Bernstein boosted their target price on ServiceNow from $906.00 to $913.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. 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 report on Monday, October 21st. Finally, Jefferies Financial Group boosted their price objective on ServiceNow from $900.00 to $1,100.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-five have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $970.33.

Insiders Place Their Bets

In other news, insider Paul John Smith sold 187 shares of the business’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $795.58, for a total value of $148,773.46. Following the completion of the sale, the insider now directly owns 3,779 shares in the company, valued at approximately $3,006,496.82. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider Paul John Smith sold 187 shares of ServiceNow stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $795.58, for a total value of $148,773.46. Following the transaction, the insider now directly owns 3,779 shares in the company, valued at approximately $3,006,496.82. 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 accessible through this hyperlink. Also, insider Jacqueline P. Canney sold 353 shares of the stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $924.96, for a total value of $326,510.88. Following the sale, the insider now owns 3,027 shares of the company’s stock, valued at approximately $2,799,853.92. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 3,530 shares of company stock valued at $2,939,955 over the last 90 days. 0.25% of the stock is currently owned by company insiders.

ServiceNow Stock Up 1.2 %

ServiceNow stock opened at $954.59 on Tuesday. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.16. ServiceNow, Inc. has a 1-year low of $602.45 and a 1-year high of $979.78. The firm’s fifty day simple moving average is $899.43 and its 200-day simple moving average is $806.07. The company has a market capitalization of $196.65 billion, a P/E ratio of 148.46, a P/E/G ratio of 5.41 and a beta of 0.98.

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