Flputnam Investment Management Co. Sells 18 Shares of ServiceNow, Inc. (NYSE:NOW)

Flputnam Investment Management Co. cut its holdings in ServiceNow, Inc. (NYSE:NOW) by 1.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 950 shares of the information technology services provider’s stock after selling 18 shares during the quarter. Flputnam Investment Management Co.’s holdings in ServiceNow were worth $671,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. PFG Private Wealth Management LLC bought a new stake in shares of ServiceNow in the third quarter worth about $28,000. First Capital Advisors Group LLC. bought a new stake in ServiceNow during the 2nd quarter valued at approximately $29,000. High Net Worth Advisory Group LLC bought a new stake in ServiceNow during the 1st quarter valued at approximately $29,000. AdvisorNet Financial Inc boosted its position in ServiceNow by 266.7% during the 4th quarter. AdvisorNet Financial Inc now owns 44 shares of the information technology services provider’s stock valued at $31,000 after acquiring an additional 32 shares in the last quarter. Finally, Steward Financial Group LLC boosted its position in ServiceNow by 125.0% during the 3rd quarter. Steward Financial Group LLC now owns 63 shares of the information technology services provider’s stock valued at $35,000 after acquiring an additional 35 shares in the last quarter. 87.18% of the stock is owned by institutional investors.

ServiceNow Stock Down 1.2 %

NOW opened at $735.68 on Thursday. The firm has a 50-day simple moving average of $767.53 and a two-hundred day simple moving average of $700.42. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.20. The company has a market capitalization of $151.09 billion, a PE ratio of 87.48, a price-to-earnings-growth ratio of 4.71 and a beta of 0.97. ServiceNow, Inc. has a 52 week low of $427.68 and a 52 week high of $815.32.

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

Insider Activity

In other news, insider Paul John Smith sold 1,795 shares of the company’s stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $781.06, for a total transaction of $1,402,002.70. Following the sale, the insider now directly owns 994 shares in the company, valued at approximately $776,373.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Paul John Smith sold 1,795 shares of the stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $781.06, for a total value of $1,402,002.70. Following the sale, the insider now directly owns 994 shares of the company’s stock, valued at approximately $776,373.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO William R. Mcdermott sold 5,030 shares of the stock in a transaction dated 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 completion of the sale, the chief executive officer now directly owns 17,177 shares in the company, valued at $12,935,655.16. The disclosure for this sale can be found here. In the last three months, insiders have sold 13,164 shares of company stock worth $9,940,303. 0.25% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on NOW shares. Jefferies Financial Group boosted their price objective on shares of ServiceNow from $885.00 to $900.00 and gave the stock a “buy” rating in a report on Wednesday, April 10th. Royal Bank of Canada boosted their price objective on shares of ServiceNow from $840.00 to $850.00 and gave the stock an “outperform” rating in a report on Thursday, January 25th. Barclays boosted their target price on shares of ServiceNow from $765.00 to $870.00 and gave the company an “overweight” rating in a research note on Tuesday, January 23rd. Mizuho boosted their target price on shares of ServiceNow from $750.00 to $820.00 and gave the company a “buy” rating in a research note on Thursday, January 25th. Finally, Stifel Nicolaus reiterated a “buy” rating and set a $820.00 target price on shares of ServiceNow in a research note on Wednesday, March 20th. Three investment analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $780.00.

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.