ServiceNow, Inc. (NYSE:NOW) Shares Sold by NewEdge Wealth LLC

NewEdge Wealth LLC lowered its stake in ServiceNow, Inc. (NYSE:NOW) by 10.9% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 10,124 shares of the information technology services provider’s stock after selling 1,240 shares during the quarter. NewEdge Wealth LLC’s holdings in ServiceNow were worth $7,153,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Sandbox Financial Partners LLC boosted its stake in ServiceNow by 8.6% during the 4th quarter. Sandbox Financial Partners LLC now owns 835 shares of the information technology services provider’s stock worth $590,000 after purchasing an additional 66 shares during the last quarter. First Hawaiian Bank raised its holdings in shares of ServiceNow by 2.2% during the 3rd quarter. First Hawaiian Bank now owns 7,514 shares of the information technology services provider’s stock worth $4,200,000 after acquiring an additional 165 shares during the period. Raymond James & Associates raised its holdings in shares of ServiceNow by 5.9% during the 4th quarter. Raymond James & Associates now owns 331,406 shares of the information technology services provider’s stock worth $234,135,000 after acquiring an additional 18,442 shares during the period. Sequoia Financial Advisors LLC raised its holdings in shares of ServiceNow by 15.4% during the 4th quarter. Sequoia Financial Advisors LLC now owns 25,726 shares of the information technology services provider’s stock worth $18,175,000 after acquiring an additional 3,438 shares during the period. Finally, Fifth Third Bancorp raised its holdings in shares of ServiceNow by 4.7% during the 4th quarter. Fifth Third Bancorp now owns 70,150 shares of the information technology services provider’s stock worth $49,560,000 after acquiring an additional 3,154 shares during the period. Institutional investors and hedge funds own 87.18% of the company’s stock.

ServiceNow Stock Performance

Shares of ServiceNow stock traded down $2.63 during trading hours on Friday, hitting $768.71. 960,000 shares of the company were exchanged, compared to its average volume of 971,665. ServiceNow, Inc. has a 1 year low of $427.68 and a 1 year high of $815.32. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.20. The business has a 50-day moving average of $770.27 and a 200-day moving average of $695.47. The stock has a market capitalization of $157.88 billion, a price-to-earnings ratio of 91.40, a P/E/G ratio of 4.87 and a beta of 0.97.

ServiceNow (NYSE:NOW) last released its quarterly earnings results on Wednesday, January 24th. The information technology services provider reported $3.11 EPS for the quarter, topping the consensus estimate of $2.77 by $0.34. ServiceNow had a return on equity of 11.85% and a net margin of 19.30%. The business had revenue of $2.44 billion during the quarter, compared to analysts’ expectations of $2.40 billion. During the same quarter in the prior year, the business earned $0.88 earnings per share. The company’s quarterly revenue was up 25.6% compared to the same quarter last year. As a group, analysts expect that ServiceNow, Inc. will post 6.16 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have recently commented on NOW. Barclays lifted their price target on ServiceNow from $765.00 to $870.00 and gave the stock an “overweight” rating in a report on Tuesday, January 23rd. Stifel Nicolaus reiterated a “buy” rating and set a $820.00 price target on shares of ServiceNow in a report on Wednesday, March 20th. Truist Financial boosted their price objective on shares of ServiceNow from $700.00 to $750.00 and gave the company a “hold” rating in a report on Thursday, January 25th. BMO Capital Markets boosted their price objective on shares of ServiceNow from $630.00 to $850.00 and gave the company an “outperform” rating in a report on Thursday, January 25th. Finally, Oppenheimer boosted their price objective on shares of ServiceNow from $750.00 to $800.00 and gave the company an “outperform” rating in a report on Thursday, January 18th. Two research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $772.22.

Insiders Place Their Bets

In other ServiceNow news, insider Paul John Smith sold 1,180 shares of the company’s stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $767.12, for a total value of $905,201.60. Following the sale, the insider now owns 1,392 shares of the company’s stock, valued at $1,067,831.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO William R. Mcdermott sold 5,030 shares of the stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $753.08, for a total transaction of $3,787,992.40. Following the sale, the chief executive officer now owns 17,177 shares of the company’s stock, valued at $12,935,655.16. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Paul John Smith sold 1,180 shares of the stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $767.12, for a total value of $905,201.60. Following the sale, the insider now directly owns 1,392 shares in the company, valued at approximately $1,067,831.04. The disclosure for this sale can be found here. Over the last quarter, insiders sold 13,164 shares of company stock worth $9,940,303. 0.24% of the stock is owned by corporate insiders.

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.