Private Advisor Group LLC Sells 1,281 Shares of ServiceNow, Inc. (NYSE:NOW)

Private Advisor Group LLC cut its stake in ServiceNow, Inc. (NYSE:NOW) by 9.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,190 shares of the information technology services provider’s stock after selling 1,281 shares during the period. Private Advisor Group LLC’s holdings in ServiceNow were worth $10,902,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. Waldron Private Wealth LLC lifted its position in shares of ServiceNow by 1.3% in the 3rd quarter. Waldron Private Wealth LLC now owns 3,820 shares of the information technology services provider’s stock worth $3,417,000 after purchasing an additional 49 shares during the period. Eastern Bank lifted its holdings in ServiceNow by 108.1% in the third quarter. Eastern Bank now owns 54,421 shares of the information technology services provider’s stock valued at $48,674,000 after buying an additional 28,272 shares during the period. Sierra Capital LLC boosted its position in ServiceNow by 251.5% during the third quarter. Sierra Capital LLC now owns 1,828 shares of the information technology services provider’s stock valued at $1,635,000 after acquiring an additional 1,308 shares during the last quarter. Signaturefd LLC grew its holdings in ServiceNow by 11.7% during the 3rd quarter. Signaturefd LLC now owns 3,950 shares of the information technology services provider’s stock worth $3,533,000 after acquiring an additional 414 shares during the period. Finally, Dock Street Asset Management Inc. raised its position in shares of ServiceNow by 21.3% in the 3rd quarter. Dock Street Asset Management Inc. now owns 32,049 shares of the information technology services provider’s stock worth $28,664,000 after acquiring an additional 5,621 shares in the last quarter. Institutional investors and hedge funds own 87.18% of the company’s stock.

ServiceNow Stock Performance

Shares of NOW stock opened at $956.40 on Friday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.12 and a current ratio of 1.12. The firm has a market cap of $197.02 billion, a price-to-earnings ratio of 172.95, a P/E/G ratio of 5.04 and a beta of 0.99. ServiceNow, Inc. has a 52 week low of $527.24 and a 52 week high of $979.78. The firm’s 50-day simple moving average is $880.60 and its two-hundred day simple moving average is $795.09.

ServiceNow (NYSE:NOW) last posted its quarterly earnings results on Wednesday, October 23rd. The information technology services provider reported $3.72 EPS for the quarter, topping analysts’ consensus estimates of $3.46 by $0.26. ServiceNow had a net margin of 11.51% and a return on equity of 14.52%. The company had revenue of $2.80 billion for the quarter, compared to analysts’ expectations of $2.75 billion. During the same quarter in the previous year, the firm posted $1.21 EPS. ServiceNow’s revenue was up 22.2% on a year-over-year basis. As a group, equities analysts forecast that ServiceNow, Inc. will post 7.41 earnings per share for the current year.

Insider Buying and Selling at ServiceNow

In related news, General Counsel Russell S. Elmer sold 1,937 shares of ServiceNow stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $779.81, for a total value of $1,510,491.97. Following the completion of the sale, the general counsel now owns 6,736 shares of the company’s stock, valued at approximately $5,252,800.16. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other ServiceNow news, General Counsel Russell S. Elmer sold 1,937 shares of the stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $779.81, for a total transaction of $1,510,491.97. Following the completion of the transaction, the general counsel now owns 6,736 shares in the company, valued at $5,252,800.16. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Jacqueline P. Canney sold 804 shares of the business’s stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $812.00, for a total transaction of $652,848.00. Following the completion of the sale, the insider now directly owns 3,027 shares in the company, valued at approximately $2,457,924. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 5,467 shares of company stock worth $4,450,447 over the last ninety days. 0.25% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Guggenheim restated a “sell” rating and set a $640.00 target price on shares of ServiceNow in a research report on Monday, July 8th. Stifel Nicolaus increased their price target on ServiceNow from $900.00 to $990.00 and gave the stock a “buy” rating in a report on Thursday. Robert W. Baird lifted their price objective on shares of ServiceNow from $900.00 to $975.00 and gave the company an “outperform” rating in a research note on Thursday. JMP Securities increased their target price on shares of ServiceNow from $850.00 to $1,000.00 and gave the stock a “market outperform” rating in a research note on Thursday, October 17th. Finally, Needham & Company LLC raised their price objective on ServiceNow from $900.00 to $1,075.00 and gave the company a “buy” rating in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and twenty-five have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $970.22.

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.