New Century Financial Group LLC Reduces Position in ServiceNow, Inc. (NYSE:NOW)

New Century Financial Group LLC reduced its stake in ServiceNow, Inc. (NYSE:NOW) by 13.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,200 shares of the information technology services provider’s stock after selling 191 shares during the quarter. New Century Financial Group LLC’s holdings in ServiceNow were worth $1,289,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Truvestments Capital LLC purchased a new position in ServiceNow in the 3rd quarter valued at about $30,000. DT Investment Partners LLC raised its position in shares of ServiceNow by 77.3% in the third quarter. DT Investment Partners LLC now owns 39 shares of the information technology services provider’s stock valued at $35,000 after buying an additional 17 shares during the last quarter. Oakworth Capital Inc. raised its position in shares of ServiceNow by 46.7% in the third quarter. Oakworth Capital Inc. now owns 44 shares of the information technology services provider’s stock valued at $39,000 after buying an additional 14 shares during the last quarter. Dunhill Financial LLC boosted its position in ServiceNow by 70.0% during the third quarter. Dunhill Financial LLC now owns 51 shares of the information technology services provider’s stock worth $46,000 after acquiring an additional 21 shares during the last quarter. Finally, Vestor Capital LLC purchased a new stake in ServiceNow in the 3rd quarter worth approximately $48,000. Institutional investors and hedge funds own 87.18% of the company’s stock.

Analysts Set New Price Targets

NOW has been the topic of a number of recent analyst reports. Barclays increased their price target on ServiceNow from $980.00 to $1,000.00 and gave the stock an “overweight” rating in a research note on Thursday, October 24th. Guggenheim reissued a “sell” rating and issued a $716.00 price target on shares of ServiceNow in a research note on Wednesday. Royal Bank of Canada lifted their price target on ServiceNow from $1,045.00 to $1,210.00 and gave the company an “outperform” rating in a report on Friday, January 3rd. BMO Capital Markets increased their price objective on shares of ServiceNow from $860.00 to $1,025.00 and gave the stock an “outperform” rating in a report on Thursday, October 10th. Finally, Citigroup boosted their target price on shares of ServiceNow from $1,068.00 to $1,071.00 and gave the company a “buy” rating in a report on Friday, October 25th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-five have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $1,093.34.

ServiceNow Stock Up 0.6 %

Shares of ServiceNow stock opened at $1,132.30 on Friday. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.13 and a quick ratio of 1.13. ServiceNow, Inc. has a 1-year low of $637.99 and a 1-year high of $1,157.90. The business has a 50-day moving average of $1,072.95 and a 200-day moving average of $938.64. The company has a market capitalization of $233.25 billion, a PE ratio of 176.10, a P/E/G ratio of 5.11 and a beta of 0.99.

ServiceNow (NYSE:NOW) last posted its quarterly earnings data on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.46 by $0.26. ServiceNow had a return on equity of 16.03% and a net margin of 12.77%. The company had revenue of $2.80 billion for the quarter, compared to the consensus estimate of $2.75 billion. During the same period in the previous year, the business earned $1.21 EPS. ServiceNow’s revenue for the quarter was up 22.2% compared to the same quarter last year. As a group, equities analysts forecast that ServiceNow, Inc. will post 7.06 EPS for the current fiscal year.

Insider Transactions at ServiceNow

In other ServiceNow news, Director Jeffrey A. Miller sold 2,879 shares of the company’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $1,019.12, for a total transaction of $2,934,046.48. Following the sale, the director now owns 42,920 shares in the company, valued at $43,740,630.40. This represents a 6.29 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO William R. Mcdermott sold 12,271 shares of ServiceNow stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $997.67, for a total value of $12,242,408.57. Following the completion of the transaction, the chief executive officer now owns 2,595 shares of the company’s stock, valued at approximately $2,588,953.65. The trade was a 82.54 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 20,731 shares of company stock valued at $21,016,751. 0.25% of the stock is currently owned by corporate 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.