ServiceNow, Inc. (NYSE:NOW) Shares Sold by Financial Network Wealth Advisors LLC

Financial Network Wealth Advisors LLC reduced its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 20.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 78 shares of the information technology services provider’s stock after selling 20 shares during the period. Financial Network Wealth Advisors LLC’s holdings in ServiceNow were worth $62,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Edgemoor Investment Advisors Inc. boosted its holdings in shares of ServiceNow by 2.5% in the 1st quarter. Edgemoor Investment Advisors Inc. now owns 459 shares of the information technology services provider’s stock valued at $366,000 after buying an additional 11 shares during the period. Integrated Investment Consultants LLC boosted its holdings in shares of ServiceNow by 2.5% in the 1st quarter. Integrated Investment Consultants LLC now owns 450 shares of the information technology services provider’s stock valued at $358,000 after buying an additional 11 shares during the period. one8zero8 LLC boosted its holdings in shares of ServiceNow by 3.2% in the 1st quarter. one8zero8 LLC now owns 356 shares of the information technology services provider’s stock valued at $283,000 after buying an additional 11 shares during the period. Capital Investment Advisory Services LLC boosted its holdings in shares of ServiceNow by 2.1% in the 1st quarter. Capital Investment Advisory Services LLC now owns 577 shares of the information technology services provider’s stock valued at $459,000 after buying an additional 12 shares during the period. Finally, Argent Trust Co boosted its holdings in shares of ServiceNow by 0.4% in the 1st quarter. Argent Trust Co now owns 3,363 shares of the information technology services provider’s stock valued at $2,677,000 after buying an additional 12 shares during the period. 87.18% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at ServiceNow

In other news, Director Lawrence Jackson sold 757 shares of the business’s stock in a transaction that occurred on Tuesday, July 29th. The shares were sold at an average price of $990.50, for a total transaction of $749,808.50. Following the sale, the director owned 588 shares in the company, valued at $582,414. The trade was a 56.28% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Gina Mastantuono sold 292 shares of the business’s stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $878.39, for a total transaction of $256,489.88. Following the sale, the chief financial officer owned 11,551 shares in the company, valued at $10,146,282.89. This represents a 2.47% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 5,587 shares of company stock valued at $5,584,027 over the last three months. 0.38% of the stock is owned by insiders.

ServiceNow Stock Up 1.1%

NYSE NOW opened at $862.82 on Thursday. 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 company’s 50 day simple moving average is $973.65 and its 200 day simple moving average is $939.15. ServiceNow, Inc. has a 12 month low of $678.66 and a 12 month high of $1,198.09. The company has a market capitalization of $179.47 billion, a P/E ratio of 108.67, a PEG ratio of 3.85 and a beta of 0.93.

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

Wall Street Analyst Weigh In

Several research analysts have recently commented on NOW shares. Guggenheim reaffirmed a “sell” rating and issued a $724.00 price target on shares of ServiceNow in a report on Thursday, July 17th. 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 report on Thursday, July 24th. Raymond James Financial boosted their target price on shares of ServiceNow from $1,000.00 to $1,100.00 and gave the company an “outperform” rating in a research note on Thursday, July 24th. Mizuho boosted their target price on shares of ServiceNow from $1,050.00 to $1,100.00 and gave the company an “outperform” rating in a research note on Thursday, June 12th. Finally, Stifel Nicolaus boosted their target price on shares of ServiceNow from $975.00 to $1,050.00 and gave the company a “buy” rating in a research note on Tuesday, May 6th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, thirty have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, ServiceNow currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,115.20.

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.