ServiceNow, Inc. $NOW Stake Lessened by Callahan Advisors LLC

Callahan Advisors LLC cut its stake in ServiceNow, Inc. (NYSE:NOW) by 0.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,861 shares of the information technology services provider’s stock after selling 34 shares during the period. Callahan Advisors LLC’s holdings in ServiceNow were worth $3,969,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Bogart Wealth LLC boosted its holdings in shares of ServiceNow by 113.3% in the first quarter. Bogart Wealth LLC now owns 32 shares of the information technology services provider’s stock valued at $25,000 after acquiring an additional 17 shares in the last quarter. Graybill Wealth Management LTD. bought a new position in shares of ServiceNow in the first quarter valued at approximately $26,000. WASHINGTON TRUST Co boosted its holdings in shares of ServiceNow by 620.0% in the first quarter. WASHINGTON TRUST Co now owns 36 shares of the information technology services provider’s stock valued at $29,000 after acquiring an additional 31 shares in the last quarter. Global X Japan Co. Ltd. bought a new stake in ServiceNow during the second quarter worth approximately $30,000. Finally, Dagco Inc. bought a new stake in ServiceNow during the first quarter worth approximately $33,000. 87.18% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other ServiceNow news, Director Anita M. Sands sold 1,097 shares of the stock in a transaction that occurred on Friday, August 29th. The shares were sold at an average price of $915.11, for a total value of $1,003,875.67. Following the completion of the sale, the director owned 9,307 shares in the company, valued at $8,516,928.77. This represents a 10.54% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO William R. Mcdermott sold 5,825 shares of the stock in a transaction that occurred on 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 completion of the sale, the chief executive officer 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 position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 18,737 shares of company stock worth $16,798,825. Insiders own 0.38% of the company’s stock.

ServiceNow Stock Down 1.0%

Shares of NYSE:NOW opened at $902.22 on Thursday. 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 company has a market cap of $187.66 billion, a PE ratio of 113.63, a price-to-earnings-growth ratio of 4.10 and a beta of 0.92. ServiceNow, Inc. has a 52 week low of $678.66 and a 52 week high of $1,198.09. The firm has a 50 day simple moving average of $909.21 and a 200 day simple moving average of $933.51.

ServiceNow (NYSE:NOW) last issued its quarterly earnings results on Wednesday, July 23rd. The information technology services provider reported $4.09 EPS for the quarter, beating the consensus estimate of $3.57 by $0.52. The business 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 quarterly revenue was up 22.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.13 EPS. As a group, research analysts expect that ServiceNow, Inc. will post 8.93 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on NOW. Raymond James Financial raised their target price on shares of ServiceNow from $1,000.00 to $1,100.00 and gave the stock an “outperform” rating in a report on Thursday, July 24th. Citigroup raised their target price on shares of ServiceNow from $1,160.00 to $1,234.00 and gave the stock a “buy” rating in a report on Thursday, July 24th. DA Davidson raised their target price on shares of ServiceNow from $1,150.00 to $1,250.00 and gave the stock a “buy” rating in a report on Thursday, July 24th. Guggenheim restated a “sell” rating and set a $724.00 target price on shares of ServiceNow in a report on Thursday, July 17th. Finally, Jefferies Financial Group raised their target price on shares of ServiceNow from $1,025.00 to $1,150.00 and gave the stock a “buy” rating in a report on Thursday, July 24th. Two research analysts have rated the stock with a Strong Buy rating, thirty have given a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $1,121.37.

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.