ServiceNow, Inc. $NOW Shares Sold by Winthrop Advisory Group LLC

Winthrop Advisory Group LLC cut its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 11.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 614 shares of the information technology services provider’s stock after selling 78 shares during the period. Winthrop Advisory Group LLC’s holdings in ServiceNow were worth $631,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the stock. Brighton Jones LLC lifted its holdings in shares of ServiceNow by 1.1% in the fourth quarter. Brighton Jones LLC now owns 2,753 shares of the information technology services provider’s stock valued at $2,919,000 after buying an additional 30 shares during the period. Moss Adams Wealth Advisors LLC lifted its holdings in ServiceNow by 9.1% in the 1st quarter. Moss Adams Wealth Advisors LLC now owns 517 shares of the information technology services provider’s stock valued at $411,000 after acquiring an additional 43 shares during the last quarter. Daymark Wealth Partners LLC lifted its holdings in ServiceNow by 42.9% in the 1st quarter. Daymark Wealth Partners LLC now owns 726 shares of the information technology services provider’s stock valued at $578,000 after acquiring an additional 218 shares during the last quarter. Farther Finance Advisors LLC lifted its stake in ServiceNow by 112.6% during the first quarter. Farther Finance Advisors LLC now owns 7,171 shares of the information technology services provider’s stock valued at $5,820,000 after purchasing an additional 3,798 shares during the last quarter. Finally, Pallas Capital Advisors LLC lifted its stake in ServiceNow by 58.3% during the first quarter. Pallas Capital Advisors LLC now owns 3,225 shares of the information technology services provider’s stock valued at $2,568,000 after purchasing an additional 1,188 shares during the last quarter. Institutional investors and hedge funds own 87.18% of the company’s stock.

Insider Buying and Selling at ServiceNow

In related news, Director Anita M. Sands sold 1,097 shares of ServiceNow stock in a transaction dated Friday, August 29th. The stock was sold at an average price of $915.11, for a total transaction of $1,003,875.67. Following the sale, the director directly owned 9,307 shares of the company’s stock, valued at $8,516,928.77. This trade represents a 10.54% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel Russell S. Elmer sold 1,698 shares of ServiceNow stock in a transaction 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 owned 4,332 shares in the company, valued at $3,830,614.32. This represents a 28.16% decrease in their position. The disclosure for this sale can be found here. Insiders sold 18,737 shares of company stock valued at $16,798,825 over the last quarter. Company insiders own 0.38% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on NOW. Needham & Company LLC upped their target price on ServiceNow from $1,050.00 to $1,200.00 and gave the company a “buy” rating in a report on Thursday, July 24th. Bank of America boosted their price target on shares of ServiceNow from $1,110.00 to $1,200.00 and gave the company a “buy” rating in a report on Thursday, July 24th. Erste Group Bank reissued a “hold” rating on shares of ServiceNow in a research note on Wednesday, July 23rd. Piper Sandler boosted their target price 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, Jefferies Financial Group upped their price target on ServiceNow from $1,025.00 to $1,150.00 and gave the company a “buy” rating in a research report on Thursday, July 24th. One equities research analyst has rated the stock with a Strong Buy rating, thirty have assigned a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $1,122.20.

ServiceNow Stock Performance

Shares of NYSE NOW opened at $905.41 on Wednesday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.09 and a current ratio of 1.09. The firm has a market cap of $188.32 billion, a price-to-earnings ratio of 114.03, a P/E/G ratio of 4.11 and a beta of 0.92. The business’s 50-day simple moving average is $911.49 and its 200-day simple moving average is $931.09. ServiceNow, Inc. has a 52 week low of $678.66 and a 52 week 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 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.57 by $0.52. The business had revenue of $3.22 billion for the quarter, compared to analyst estimates of $3.12 billion. ServiceNow had a net margin of 13.78% and a return on equity of 18.04%. ServiceNow’s revenue was up 22.4% compared to the same quarter last year. During the same period last year, the business posted $3.13 EPS. As a group, equities research analysts expect that ServiceNow, Inc. will post 8.93 earnings per share for the current fiscal year.

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.