Aberdeen Group plc Sells 23,237 Shares of ServiceNow, Inc. $NOW

Aberdeen Group plc lowered its stake in ServiceNow, Inc. (NYSE:NOW) by 8.1% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 264,304 shares of the information technology services provider’s stock after selling 23,237 shares during the quarter. Aberdeen Group plc’s holdings in ServiceNow were worth $269,961,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Bogart Wealth LLC boosted its holdings in ServiceNow by 113.3% in the first quarter. Bogart Wealth LLC now owns 32 shares of the information technology services provider’s stock valued at $25,000 after acquiring an additional 17 shares in the last quarter. Graybill Wealth Management LTD. bought a new stake in ServiceNow in the first quarter valued at $26,000. WASHINGTON TRUST Co boosted its holdings in ServiceNow by 620.0% in the first quarter. WASHINGTON TRUST Co now owns 36 shares of the information technology services provider’s stock valued at $29,000 after acquiring an additional 31 shares in the last quarter. Global X Japan Co. Ltd. bought a new stake in ServiceNow in the second quarter valued at $30,000. Finally, Dagco Inc. bought a new stake in ServiceNow in the first quarter valued at $33,000. Institutional investors own 87.18% of the company’s stock.

Insider Activity at ServiceNow

In other ServiceNow news, General Counsel Russell S. Elmer sold 1,698 shares of ServiceNow stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $884.26, for a total transaction of $1,501,473.48. Following the completion of the transaction, the general counsel directly owned 4,332 shares of the company’s stock, valued at $3,830,614.32. The trade was a 28.16% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Gina Mastantuono sold 1,762 shares of the stock in a transaction on 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 completion of the sale, the chief financial officer owned 12,228 shares in the company, valued at approximately $10,594,950.60. The trade was a 12.59% decrease in their position. The disclosure for this sale can be found here. Insiders sold 18,737 shares of company stock valued at $16,798,825 over the last three months. Corporate insiders own 0.38% of the company’s stock.

ServiceNow Stock Down 3.2%

NYSE NOW opened at $888.63 on Friday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.09 and a current ratio of 1.09. The company has a market capitalization of $184.84 billion, a P/E ratio of 111.92, a P/E/G ratio of 4.13 and a beta of 0.92. ServiceNow, Inc. has a one year low of $678.66 and a one year high of $1,198.09. The stock has a 50 day moving average price of $909.21 and a 200-day moving average price of $931.62.

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 analysts’ consensus estimates 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 company’s quarterly revenue was up 22.4% compared to the same quarter last year. During the same period in the prior year, the company earned $3.13 EPS. As a group, equities analysts predict that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on NOW. Oppenheimer reaffirmed an “outperform” rating and issued a $1,150.00 price target (up from $1,100.00) on shares of ServiceNow in a research note on Thursday, July 24th. Guggenheim reissued a “sell” rating and issued a $724.00 target price on shares of ServiceNow in a report on Thursday, July 17th. Piper Sandler upped their price target on ServiceNow from $1,120.00 to $1,150.00 and gave the company an “overweight” rating in a report on Thursday, July 24th. Wells Fargo & Company increased their target price on ServiceNow from $1,150.00 to $1,225.00 and gave the company an “overweight” rating in a report on Thursday, July 24th. Finally, Barclays set a $1,210.00 target price on ServiceNow in a report on Thursday, July 24th. One investment analyst has 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’s stock. According to MarketBeat, ServiceNow presently has an average rating of “Moderate Buy” and an average price target of $1,122.20.

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.