Denali Advisors LLC Has $3.08 Million Stock Holdings in ServiceNow, Inc. $NOW

Denali Advisors LLC reduced its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 17.1% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,994 shares of the information technology services provider’s stock after selling 619 shares during the quarter. Denali Advisors LLC’s holdings in ServiceNow were worth $3,078,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Bogart Wealth LLC grew its holdings in shares of ServiceNow by 113.3% during the 1st quarter. Bogart Wealth LLC now owns 32 shares of the information technology services provider’s stock worth $25,000 after purchasing an additional 17 shares in the last quarter. Graybill Wealth Management LTD. acquired a new stake in shares of ServiceNow during the 1st quarter worth $26,000. WASHINGTON TRUST Co grew its holdings in shares of ServiceNow by 620.0% during the 1st quarter. WASHINGTON TRUST Co now owns 36 shares of the information technology services provider’s stock worth $29,000 after purchasing an additional 31 shares in the last quarter. Global X Japan Co. Ltd. acquired a new stake in shares of ServiceNow during the 2nd quarter worth $30,000. Finally, LGT Financial Advisors LLC acquired a new stake in shares of ServiceNow during the 2nd quarter worth $32,000. 87.18% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at ServiceNow

In other news, CEO William R. Mcdermott sold 5,825 shares of the firm’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 completion of the transaction, the chief executive officer directly owned 6,614 shares in the company, valued at $6,062,590.82. This trade represents a 46.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Gina Mastantuono sold 1,762 shares of the firm’s stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $866.45, for a total value of $1,526,684.90. Following the transaction, the chief financial officer owned 12,228 shares of the company’s stock, valued at $10,594,950.60. This trade represents a 12.59% 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 corporate insiders.

ServiceNow Price Performance

ServiceNow stock opened at $942.56 on Wednesday. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.14. The company has a market capitalization of $196.05 billion, a PE ratio of 118.71, a P/E/G ratio of 4.13 and a beta of 0.92. ServiceNow, Inc. has a 12 month low of $678.66 and a 12 month high of $1,198.09. The stock has a 50-day moving average price of $913.34 and a two-hundred day moving average price of $938.13.

ServiceNow (NYSE:NOW) last posted its 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 firm had revenue of $3.22 billion during the quarter, compared to the consensus estimate of $3.12 billion. ServiceNow had a return on equity of 18.04% and a net margin of 13.78%.The business’s quarterly revenue was up 22.4% on a year-over-year basis. During the same period last year, the company earned $3.13 earnings per share. Analysts expect that ServiceNow, Inc. will post 8.93 EPS for the current year.

Analysts Set New Price Targets

Several research firms have recently issued reports on NOW. Cantor Fitzgerald reissued an “overweight” rating and set a $1,200.00 target price on shares of ServiceNow in a report on Thursday, July 24th. Weiss Ratings reissued a “hold (c)” rating on shares of ServiceNow in a report on Wednesday, October 8th. Barclays set a $1,210.00 price objective on ServiceNow in a research note on Thursday, July 24th. Raymond James Financial raised their price objective on ServiceNow from $1,000.00 to $1,100.00 and gave the company an “outperform” rating in a research note on Thursday, July 24th. Finally, Wells Fargo & Company raised their price objective on ServiceNow from $1,150.00 to $1,225.00 and gave the company an “overweight” rating in a research note on Thursday, July 24th. Two investment analysts have rated the stock with a Strong Buy rating, thirty have assigned a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, ServiceNow presently has an average rating of “Moderate Buy” and a consensus target price of $1,121.37.

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.