ServiceNow, Inc. $NOW Shares Sold by Principle Wealth Partners LLC

Principle Wealth Partners LLC cut its stake in ServiceNow, Inc. (NYSE:NOW) by 0.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,068 shares of the information technology services provider’s stock after selling 18 shares during the period. Principle Wealth Partners LLC’s holdings in ServiceNow were worth $2,126,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in NOW. Brighton Jones LLC increased its position in ServiceNow by 1.1% in the fourth quarter. Brighton Jones LLC now owns 2,753 shares of the information technology services provider’s stock worth $2,919,000 after buying an additional 30 shares during the period. GAMMA Investing LLC boosted its stake in ServiceNow by 10.0% during the first quarter. GAMMA Investing LLC now owns 3,378 shares of the information technology services provider’s stock valued at $2,689,000 after buying an additional 308 shares in the last quarter. Oppenheimer & Co. Inc. boosted its stake in ServiceNow by 21.3% during the first quarter. Oppenheimer & Co. Inc. now owns 7,342 shares of the information technology services provider’s stock valued at $5,845,000 after buying an additional 1,291 shares in the last quarter. Moran Wealth Management LLC boosted its stake in ServiceNow by 5.0% during the first quarter. Moran Wealth Management LLC now owns 1,176 shares of the information technology services provider’s stock valued at $936,000 after buying an additional 56 shares in the last quarter. Finally, Field & Main Bank boosted its stake in ServiceNow by 6.8% during the first quarter. Field & Main Bank now owns 2,049 shares of the information technology services provider’s stock valued at $1,631,000 after buying an additional 131 shares in the last quarter. 87.18% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at ServiceNow

In other news, insider Paul Fipps sold 1,452 shares of the firm’s stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $895.05, for a total transaction of $1,299,612.60. Following the completion of the sale, the insider directly owned 457 shares of the company’s stock, valued at $409,037.85. This trade represents a 76.06% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Vice Chairman Nicholas Tzitzon sold 1,719 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 $1,489,427.55. Following the sale, the insider directly owned 3,000 shares of the company’s stock, valued at $2,599,350. This trade represents a 36.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 18,737 shares of company stock worth $16,798,825. 0.38% of the stock is currently owned by company insiders.

ServiceNow Stock Down 0.6%

Shares of ServiceNow stock opened at $936.25 on Thursday. The stock has a 50-day moving average price of $914.81 and a 200 day moving average price of $938.12. The company has a market cap of $194.74 billion, a P/E ratio of 117.92, a P/E/G ratio of 4.24 and a beta of 0.92. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.14. ServiceNow, Inc. has a 1 year low of $678.66 and a 1 year high of $1,198.09.

ServiceNow (NYSE:NOW) last announced its quarterly earnings data on Wednesday, July 23rd. The information technology services provider reported $4.09 earnings per share (EPS) for the quarter, topping 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 revenue for the quarter was up 22.4% on a year-over-year basis. During the same period in the prior year, the business earned $3.13 EPS. As a group, analysts expect that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

Analysts Set New Price Targets

NOW has been the subject of several research reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of ServiceNow in a research note on Wednesday, October 8th. Raymond James Financial raised their target price 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. JMP Securities reiterated a “market outperform” rating and issued a $1,300.00 price target on shares of ServiceNow in a research report on Monday, August 4th. Guggenheim reiterated a “sell” rating and issued a $724.00 price target on shares of ServiceNow in a research report on Thursday, July 17th. Finally, Bank of America increased their price target on ServiceNow from $1,110.00 to $1,200.00 and gave the company a “buy” rating in a research report on Thursday, July 24th. Two 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 given a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average 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.