Yousif Capital Management LLC Has $25.81 Million Holdings in ServiceNow, Inc. $NOW

Yousif Capital Management LLC lessened its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 0.4% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 25,106 shares of the information technology services provider’s stock after selling 107 shares during the period. Yousif Capital Management LLC’s holdings in ServiceNow were worth $25,811,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Wealth Preservation Advisors LLC acquired a new position in ServiceNow in the first quarter valued at $382,000. Corient IA LLC acquired a new position in ServiceNow in the first quarter valued at $796,000. Parr Mcknight Wealth Management Group LLC acquired a new position in ServiceNow in the first quarter valued at $1,820,000. ASR Vermogensbeheer N.V. acquired a new position in ServiceNow in the first quarter valued at $19,278,000. Finally, Goldman Sachs Group Inc. lifted its holdings in ServiceNow by 131.4% in the first quarter. Goldman Sachs Group Inc. now owns 1,480,526 shares of the information technology services provider’s stock valued at $1,178,706,000 after buying an additional 840,731 shares during the period. Institutional investors and hedge funds own 87.18% of the company’s stock.

Insider Activity at ServiceNow

In other news, Vice Chairman Nicholas Tzitzon sold 1,719 shares of the business’s stock in a transaction dated 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 completion of the sale, the insider directly owned 3,000 shares of the company’s stock, valued at $2,599,350. The trade was a 36.43% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO William R. Mcdermott sold 5,825 shares of the business’s stock in a transaction dated Thursday, August 28th. The stock was sold at an average price of $916.63, for a total transaction of $5,339,369.75. Following the sale, the chief executive officer directly owned 6,614 shares of the company’s stock, valued at approximately $6,062,590.82. The trade was a 46.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 18,737 shares of company stock valued at $16,798,825 over the last quarter. 0.38% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. Erste Group Bank restated a “hold” rating on shares of ServiceNow in a report on Wednesday, July 23rd. Wells Fargo & Company lifted their price target on shares of ServiceNow from $1,150.00 to $1,225.00 and gave the company an “overweight” rating in a research note on Thursday, July 24th. Citigroup lifted their price target on shares of ServiceNow from $1,160.00 to $1,234.00 and gave the company a “buy” rating in a research note on Thursday, July 24th. Piper Sandler lifted their price target on shares of ServiceNow from $1,120.00 to $1,150.00 and gave the company an “overweight” rating in a research note on Thursday, July 24th. Finally, Wall Street Zen downgraded shares of ServiceNow from a “buy” rating to a “hold” rating in a research note on Saturday, August 30th. One analyst has rated the stock with a Strong Buy rating, thirty have given a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $1,122.20.

ServiceNow Trading Down 3.2%

NYSE:NOW opened at $888.63 on Monday. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.09 and a quick ratio of 1.09. The firm has a 50-day moving average of $909.21 and a 200-day moving average of $932.99. The company has a market cap of $184.84 billion, a PE ratio of 111.92, a PEG ratio of 4.00 and a beta of 0.92. ServiceNow, Inc. has a one year low of $678.66 and a one year high of $1,198.09.

ServiceNow (NYSE:NOW) last posted its earnings results on Wednesday, July 23rd. The information technology services provider reported $4.09 EPS for the quarter, topping the consensus estimate of $3.57 by $0.52. The company had revenue of $3.22 billion during the quarter, compared to the consensus estimate of $3.12 billion. ServiceNow had a net margin of 13.78% and a return on equity of 18.04%. The firm’s revenue for the quarter was up 22.4% on a year-over-year basis. During the same period in the previous year, the firm posted $3.13 earnings per share. As a group, equities research analysts expect that ServiceNow, Inc. will post 8.93 EPS 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.