Richwood Investment Advisors LLC Sells 38 Shares of ServiceNow, Inc. $NOW

Richwood Investment Advisors LLC cut its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 0.7% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,403 shares of the information technology services provider’s stock after selling 38 shares during the quarter. ServiceNow accounts for 4.6% of Richwood Investment Advisors LLC’s holdings, making the stock its 4th largest position. Richwood Investment Advisors LLC’s holdings in ServiceNow were worth $5,555,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the stock. Cornerstone Advisory LLC increased its stake in ServiceNow by 13.8% during the 2nd quarter. Cornerstone Advisory LLC now owns 264 shares of the information technology services provider’s stock worth $271,000 after acquiring an additional 32 shares during the period. Country Club Bank grew its holdings in shares of ServiceNow by 2.1% during the 2nd quarter. Country Club Bank now owns 905 shares of the information technology services provider’s stock worth $925,000 after purchasing an additional 19 shares in the last quarter. Heck Capital Advisors LLC grew its holdings in shares of ServiceNow by 6.0% during the 2nd quarter. Heck Capital Advisors LLC now owns 266 shares of the information technology services provider’s stock worth $273,000 after purchasing an additional 15 shares in the last quarter. Motiv8 Investments LLC increased its position in shares of ServiceNow by 10.6% in the second quarter. Motiv8 Investments LLC now owns 1,125 shares of the information technology services provider’s stock worth $1,157,000 after purchasing an additional 108 shares during the period. Finally, KPP Advisory Services LLC raised its stake in ServiceNow by 8.2% in the second quarter. KPP Advisory Services LLC now owns 1,033 shares of the information technology services provider’s stock valued at $1,062,000 after purchasing an additional 78 shares in the last quarter. 87.18% of the stock is currently owned by institutional investors.

ServiceNow Stock Up 0.1%

Shares of NOW opened at $913.27 on Tuesday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.09 and a current ratio of 1.09. ServiceNow, Inc. has a 52 week low of $678.66 and a 52 week high of $1,198.09. The stock has a market capitalization of $189.96 billion, a price-to-earnings ratio of 115.02, a PEG ratio of 4.11 and a beta of 0.92. The stock has a fifty day moving average of $913.22 and a 200-day moving average of $931.27.

ServiceNow (NYSE:NOW) last issued its quarterly earnings data on Wednesday, July 23rd. The information technology services provider reported $4.09 earnings per share for the quarter, topping analysts’ consensus estimates of $3.57 by $0.52. ServiceNow had a return on equity of 18.04% and a net margin of 13.78%.The business had revenue of $3.22 billion for the quarter, compared to analyst estimates of $3.12 billion. During the same quarter in the previous year, the company posted $3.13 EPS. ServiceNow’s quarterly revenue was up 22.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that ServiceNow, Inc. will post 8.93 earnings per share for the current fiscal year.

Insider Activity

In related news, Vice Chairman Nicholas Tzitzon sold 1,719 shares of ServiceNow stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $866.45, for a total transaction of $1,489,427.55. Following the sale, the insider directly owned 3,000 shares in the company, valued at $2,599,350. This trade represents a 36.43% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel Russell S. Elmer sold 1,698 shares of the business’s stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $884.26, for a total transaction of $1,501,473.48. Following the sale, the general counsel directly owned 4,332 shares in the company, valued at $3,830,614.32. The trade was a 28.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 18,737 shares of company stock valued at $16,798,825. 0.38% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

NOW has been the topic of a number of analyst reports. Cantor Fitzgerald reiterated an “overweight” rating and set a $1,200.00 price objective on shares of ServiceNow in a research note on Thursday, July 24th. Wells Fargo & Company increased their price target on shares of ServiceNow from $1,150.00 to $1,225.00 and gave the stock an “overweight” rating in a research report on Thursday, July 24th. Barclays set a $1,210.00 price objective on shares of ServiceNow in a research note on Thursday, July 24th. Oppenheimer restated an “outperform” rating and set a $1,150.00 target price (up from $1,100.00) on shares of ServiceNow in a research note on Thursday, July 24th. Finally, BMO Capital Markets lifted their price target on ServiceNow from $1,150.00 to $1,160.00 and gave the company an “outperform” rating in a research note on Thursday, July 24th. One research analyst has rated the stock with a Strong Buy rating, thirty have given a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $1,122.20.

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.