Mizuho Securities USA LLC Sells 761 Shares of ServiceNow, Inc. (NYSE:NOW)

Mizuho Securities USA LLC decreased its position in shares of ServiceNow, Inc. (NYSE:NOW) by 4.8% in the third quarter, HoldingsChannel reports. The firm owned 15,049 shares of the information technology services provider’s stock after selling 761 shares during the quarter. Mizuho Securities USA LLC’s holdings in ServiceNow were worth $13,460,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Creekmur Asset Management LLC purchased a new position in ServiceNow during the 1st quarter valued at approximately $25,000. Versant Capital Management Inc grew its holdings in shares of ServiceNow by 466.7% in the second quarter. Versant Capital Management Inc now owns 34 shares of the information technology services provider’s stock valued at $27,000 after purchasing an additional 28 shares in the last quarter. EntryPoint Capital LLC increased its position in ServiceNow by 3,900.0% in the first quarter. EntryPoint Capital LLC now owns 40 shares of the information technology services provider’s stock worth $30,000 after purchasing an additional 39 shares during the last quarter. Ridgewood Investments LLC purchased a new stake in ServiceNow during the second quarter valued at $32,000. Finally, DT Investment Partners LLC lifted its position in ServiceNow by 77.3% during the third quarter. DT Investment Partners LLC now owns 39 shares of the information technology services provider’s stock valued at $35,000 after purchasing an additional 17 shares during the last quarter. 87.18% of the stock is owned by institutional investors.

ServiceNow Trading Down 2.7 %

NOW opened at $1,011.39 on Friday. The stock has a fifty day moving average price of $932.47 and a 200-day moving average price of $824.15. ServiceNow, Inc. has a 12 month low of $637.99 and a 12 month high of $1,061.66. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.16. The firm has a market cap of $208.35 billion, a price-to-earnings ratio of 157.29, a PEG ratio of 5.80 and a beta of 0.98.

ServiceNow (NYSE:NOW) last released its quarterly 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 net margin of 12.77% and a return on equity of 16.03%. The business had revenue of $2.80 billion for the quarter, compared to analyst estimates of $2.75 billion. During the same period in the previous year, the company earned $1.21 earnings per share. The business’s revenue for the quarter was up 22.2% on a year-over-year basis. As a group, equities research analysts anticipate that ServiceNow, Inc. will post 7.07 earnings per share for the current fiscal year.

Insider Activity at ServiceNow

In related news, insider Nicholas Tzitzon sold 1,857 shares of the company’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $829.68, for a total value of $1,540,715.76. Following the transaction, the insider now directly owns 3,649 shares of the company’s stock, valued at $3,027,502.32. This represents a 33.73 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jacqueline P. Canney sold 94 shares of ServiceNow stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $825.92, for a total value of $77,636.48. Following the sale, the insider now directly owns 4,019 shares of the company’s stock, valued at approximately $3,319,372.48. This represents a 2.29 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 5,325 shares of company stock valued at $5,024,928 in the last ninety days. Corporate insiders own 0.25% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Oppenheimer boosted their target price on shares of ServiceNow from $825.00 to $1,020.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. JMP Securities upped their price objective on ServiceNow from $850.00 to $1,000.00 and gave the company a “market outperform” rating in a research report on Thursday, October 17th. BMO Capital Markets lifted their target price on ServiceNow from $860.00 to $1,025.00 and gave the stock an “outperform” rating in a report on Thursday, October 10th. Piper Sandler increased their price target on ServiceNow from $850.00 to $1,000.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. Finally, Royal Bank of Canada raised their price target on ServiceNow from $985.00 to $1,045.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. One research analyst has rated the stock with a sell rating, two have given a hold rating and twenty-six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $974.04.

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.