DSG Capital Advisors LLC Cuts Stock Holdings in ServiceNow, Inc. (NYSE:NOW)

DSG Capital Advisors LLC reduced its stake in ServiceNow, Inc. (NYSE:NOW) by 1.2% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 4,196 shares of the information technology services provider’s stock after selling 53 shares during the quarter. DSG Capital Advisors LLC’s holdings in ServiceNow were worth $3,341,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Janus Henderson Group PLC lifted its position in shares of ServiceNow by 1.5% during the fourth quarter. Janus Henderson Group PLC now owns 824,725 shares of the information technology services provider’s stock valued at $874,258,000 after purchasing an additional 12,533 shares in the last quarter. FMR LLC increased its position in shares of ServiceNow by 4.9% during the 4th quarter. FMR LLC now owns 5,878,900 shares of the information technology services provider’s stock valued at $6,232,339,000 after purchasing an additional 272,506 shares during the last quarter. Nicholas Investment Partners LP grew its position in ServiceNow by 223.5% during the fourth quarter. Nicholas Investment Partners LP now owns 2,805 shares of the information technology services provider’s stock valued at $2,974,000 after buying an additional 1,938 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in ServiceNow by 18.8% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 196,783 shares of the information technology services provider’s stock valued at $209,103,000 after buying an additional 31,125 shares during the period. Finally, Norges Bank purchased a new stake in ServiceNow during the fourth quarter worth about $2,603,360,000. 87.18% of the stock is owned by hedge funds and other institutional investors.

ServiceNow Stock Performance

NYSE:NOW opened at $1,029.17 on Tuesday. The stock has a market cap of $213.02 billion, a P/E ratio of 139.83, a PEG ratio of 4.70 and a beta of 0.96. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.15. The business’s 50-day moving average price is $991.05 and its two-hundred day moving average price is $964.06. ServiceNow, Inc. has a twelve month low of $678.66 and a twelve month high of $1,198.09.

ServiceNow (NYSE:NOW) last announced its earnings results on Wednesday, April 23rd. The information technology services provider reported $4.04 earnings per share for the quarter, beating analysts’ consensus estimates of $3.78 by $0.26. ServiceNow had a net margin of 13.41% and a return on equity of 17.34%. The business had revenue of $3.09 billion for the quarter, compared to the consensus estimate of $3.09 billion. During the same period last year, the firm posted $3.41 earnings per share. ServiceNow’s quarterly revenue was up 18.6% on a year-over-year basis. As a group, equities analysts predict that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

NOW has been the subject of a number of research reports. Robert W. Baird increased their target price on shares of ServiceNow from $1,010.00 to $1,150.00 and gave the company an “outperform” rating in a research report on Thursday, April 24th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $1,048.00 price target on shares of ServiceNow in a research report on Thursday, April 24th. TD Securities reiterated a “buy” rating and set a $1,100.00 price target on shares of ServiceNow in a research note on Thursday, April 24th. Royal Bank Of Canada boosted their price objective on ServiceNow from $1,060.00 to $1,100.00 and gave the company an “outperform” rating in a research note on Tuesday, May 6th. Finally, The Goldman Sachs Group reiterated a “buy” rating on shares of ServiceNow in a research report on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, thirty-one have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, ServiceNow presently has an average rating of “Moderate Buy” and a consensus target price of $1,065.32.

Insider Transactions at ServiceNow

In other ServiceNow news, Director Deborah Black sold 598 shares of ServiceNow stock in a transaction dated Friday, April 25th. The stock was sold at an average price of $940.23, for a total transaction of $562,257.54. Following the completion of the sale, the director owned 428 shares of the company’s stock, valued at $402,418.44. The trade was a 58.28% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Jonathan Chadwick sold 770 shares of the company’s stock in a transaction dated Monday, April 28th. The stock was sold at an average price of $931.62, for a total value of $717,347.40. Following the completion of the transaction, the director owned 3,205 shares of the company’s stock, valued at $2,985,842.10. The trade was a 19.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 6,716 shares of company stock worth $6,611,245. Company insiders own 0.38% of the company’s stock.

ServiceNow Company Profile

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.