ServiceNow, Inc. $NOW Shares Sold by Darden Wealth Group Inc

Darden Wealth Group Inc cut its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 7.7% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,588 shares of the information technology services provider’s stock after selling 132 shares during the period. ServiceNow makes up about 1.0% of Darden Wealth Group Inc’s portfolio, making the stock its 20th largest holding. Darden Wealth Group Inc’s holdings in ServiceNow were worth $1,633,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the business. Heirloom Wealth Management acquired a new stake in ServiceNow in the second quarter valued at approximately $592,000. Brighton Jones LLC grew its stake in ServiceNow by 23.1% in the 2nd quarter. Brighton Jones LLC now owns 3,342 shares of the information technology services provider’s stock valued at $3,435,000 after acquiring an additional 628 shares during the period. Linden Thomas Advisory Services LLC lifted its holdings in ServiceNow by 1.3% during the second quarter. Linden Thomas Advisory Services LLC now owns 5,423 shares of the information technology services provider’s stock valued at $5,575,000 after purchasing an additional 70 shares in the last quarter. Kornitzer Capital Management Inc. KS increased its stake in shares of ServiceNow by 5.8% during the second quarter. Kornitzer Capital Management Inc. KS now owns 3,870 shares of the information technology services provider’s stock worth $3,979,000 after purchasing an additional 213 shares in the last quarter. Finally, Shaker Investments LLC OH raised its position in shares of ServiceNow by 6.3% during the 2nd quarter. Shaker Investments LLC OH now owns 3,748 shares of the information technology services provider’s stock worth $3,853,000 after purchasing an additional 222 shares during the last quarter. Institutional investors and hedge funds own 87.18% of the company’s stock.

ServiceNow Stock Down 1.0%

Shares of NOW opened at $929.77 on Friday. ServiceNow, Inc. has a 52-week low of $678.66 and a 52-week high of $1,198.09. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.14. The stock has a fifty day simple moving average of $917.85 and a two-hundred day simple moving average of $942.45. The company has a market capitalization of $193.39 billion, a PE ratio of 117.10, a price-to-earnings-growth ratio of 4.19 and a beta of 0.92.

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, beating 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 firm had revenue of $3.22 billion during the quarter, compared to analyst estimates of $3.12 billion. During the same quarter in the prior year, the firm posted $3.13 earnings per share. ServiceNow’s quarterly revenue was up 22.4% on a year-over-year basis. As a group, equities analysts forecast that ServiceNow, Inc. will post 8.93 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts have commented on NOW shares. Guggenheim reiterated a “sell” rating and set a $724.00 price objective on shares of ServiceNow in a research note on Thursday, July 17th. Bank of America boosted their price target on ServiceNow from $1,110.00 to $1,200.00 and gave the stock a “buy” rating in a research report on Thursday, July 24th. Citigroup increased their price objective on ServiceNow from $1,160.00 to $1,234.00 and gave the company a “buy” rating in a research note on Thursday, July 24th. Morgan Stanley raised shares of ServiceNow from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $1,040.00 to $1,250.00 in a research note on Wednesday, September 24th. Finally, Cowen reaffirmed a “buy” rating on shares of ServiceNow in a report on Friday. Two research analysts have rated the stock with a Strong Buy rating, thirty-one have issued a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, ServiceNow currently has an average rating of “Moderate Buy” and an average target price of $1,124.17.

Insider Activity

In related news, Vice Chairman Nicholas Tzitzon sold 1,719 shares of the company’s stock in a transaction that occurred on 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 transaction, the insider directly owned 3,000 shares in the company, valued at approximately $2,599,350. This represents a 36.43% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO William R. Mcdermott sold 5,825 shares of the firm’s stock in a transaction on Thursday, August 28th. The stock was sold at an average price of $916.63, for a total value of $5,339,369.75. Following the sale, the chief executive officer directly owned 6,614 shares of the company’s stock, valued at approximately $6,062,590.82. This trade represents a 46.83% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 18,737 shares of company stock worth $16,798,825. 0.38% of the stock is owned by company insiders.

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.