IFC Advisors LLC Sells 51 Shares of ServiceNow, Inc. $NOW

IFC Advisors LLC trimmed its holdings in ServiceNow, Inc. (NYSE:NOW) by 9.0% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 514 shares of the information technology services provider’s stock after selling 51 shares during the quarter. IFC Advisors LLC’s holdings in ServiceNow were worth $528,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Wilmington Savings Fund Society FSB lifted its stake in shares of ServiceNow by 16.6% in the second quarter. Wilmington Savings Fund Society FSB now owns 6,645 shares of the information technology services provider’s stock worth $6,832,000 after buying an additional 948 shares during the last quarter. RFG Advisory LLC lifted its stake in shares of ServiceNow by 5.3% in the second quarter. RFG Advisory LLC now owns 4,893 shares of the information technology services provider’s stock worth $5,031,000 after buying an additional 247 shares during the last quarter. Perfromance Wealth Partners LLC lifted its stake in shares of ServiceNow by 9.6% in the second quarter. Perfromance Wealth Partners LLC now owns 1,130 shares of the information technology services provider’s stock worth $1,162,000 after buying an additional 99 shares during the last quarter. Naviter Wealth LLC lifted its stake in shares of ServiceNow by 4.1% in the second quarter. Naviter Wealth LLC now owns 2,234 shares of the information technology services provider’s stock worth $2,297,000 after buying an additional 88 shares during the last quarter. Finally, Axxcess Wealth Management LLC lifted its stake in shares of ServiceNow by 98.4% in the second quarter. Axxcess Wealth Management LLC now owns 1,488 shares of the information technology services provider’s stock worth $1,530,000 after buying an additional 738 shares during the last quarter. 87.18% of the stock is currently owned by institutional investors and hedge funds.

ServiceNow Trading Up 3.9%

Shares of NOW stock opened at $923.44 on Tuesday. ServiceNow, Inc. has a 52-week low of $678.66 and a 52-week high of $1,198.09. The stock has a market cap of $192.07 billion, a price-to-earnings ratio of 116.30, a P/E/G ratio of 4.00 and a beta of 0.92. 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 firm has a fifty day moving average of $909.24 and a 200-day moving average of $933.88.

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 company had revenue of $3.22 billion during the quarter, compared to analysts’ expectations of $3.12 billion. During the same quarter in the prior year, the company posted $3.13 EPS. The business’s revenue was up 22.4% on a year-over-year basis. On average, equities research analysts forecast that ServiceNow, Inc. will post 8.93 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, General Counsel Russell S. Elmer sold 1,698 shares of the stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $884.26, for a total value of $1,501,473.48. Following the completion of the transaction, the general counsel owned 4,332 shares in the company, valued at approximately $3,830,614.32. This represents a 28.16% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO William R. Mcdermott sold 5,825 shares of the company’s stock in a transaction dated Thursday, August 28th. The stock was sold at an average price of $916.63, for a total transaction of $5,339,369.75. Following the completion of the sale, the chief executive officer directly owned 6,614 shares in the company, valued at approximately $6,062,590.82. The trade was 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. Insiders own 0.38% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Bank of America boosted their price objective on shares of ServiceNow from $1,110.00 to $1,200.00 and gave the stock a “buy” rating in a research note on Thursday, July 24th. Oppenheimer restated an “outperform” rating and issued a $1,150.00 price objective (up from $1,100.00) on shares of ServiceNow in a research note on Thursday, July 24th. Erste Group Bank restated a “hold” rating on shares of ServiceNow in a research note on Wednesday, July 23rd. Raymond James Financial upped their target price on shares of ServiceNow from $1,000.00 to $1,100.00 and gave the company an “outperform” rating in a research note on Thursday, July 24th. Finally, Barclays set a $1,210.00 target price on shares of ServiceNow in a research note on Thursday, July 24th. One research analyst has rated the stock with a Strong Buy rating, thirty have issued a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, ServiceNow presently has an average rating of “Moderate Buy” and an average price target 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.