ServiceNow, Inc. $NOW Shares Sold by Prakash Investment Advisors LLC

Prakash Investment Advisors LLC decreased its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 3.5% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,750 shares of the information technology services provider’s stock after selling 100 shares during the period. ServiceNow accounts for 2.5% of Prakash Investment Advisors LLC’s portfolio, making the stock its 11th largest position. Prakash Investment Advisors LLC’s holdings in ServiceNow were worth $2,827,000 as of its most recent filing with the SEC.

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

Insider Buying and Selling at ServiceNow

In related news, Vice Chairman Nicholas Tzitzon sold 1,719 shares of the firm’s stock in a transaction on Monday, August 18th. The shares were sold at an average price of $866.45, for a total transaction of $1,489,427.55. Following the completion of the sale, the insider directly owned 3,000 shares of the company’s stock, valued at approximately $2,599,350. This trade represents a 36.43% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Russell S. Elmer sold 1,698 shares of the firm’s 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 sale, the general counsel directly owned 4,332 shares of the company’s stock, valued at approximately $3,830,614.32. The trade was a 28.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 18,976 shares of company stock worth $17,049,775. 0.38% of the stock is currently owned by insiders.

ServiceNow Price Performance

NOW opened at $932.85 on Thursday. The company has a fifty day simple moving average of $921.07 and a 200 day simple moving average of $924.60. The firm has a market cap of $194.03 billion, a price-to-earnings ratio of 117.49, a PEG ratio of 4.18 and a beta of 0.91. ServiceNow, Inc. has a twelve month low of $678.66 and a twelve month high of $1,198.09. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.14.

ServiceNow (NYSE:NOW) last released its quarterly earnings results on Wednesday, July 23rd. The information technology services provider reported $4.09 earnings per share for the quarter, beating analysts’ consensus estimates of $3.57 by $0.52. The business had revenue of $3.22 billion during the quarter, compared to analyst estimates of $3.12 billion. ServiceNow had a net margin of 13.78% and a return on equity of 18.04%. The business’s revenue was up 22.4% on a year-over-year basis. During the same period last year, the business earned $3.13 EPS. Equities research analysts expect that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

NOW has been the subject of several research analyst reports. Jefferies Financial Group upped their price target on shares of ServiceNow from $1,025.00 to $1,150.00 and gave the stock a “buy” rating in a research report on Thursday, July 24th. Mizuho increased their price objective on shares of ServiceNow from $1,050.00 to $1,100.00 and gave the stock an “outperform” rating in a research report on Thursday, June 12th. Barclays set a $1,210.00 price objective on shares of ServiceNow in a research report on Thursday, July 24th. Needham & Company LLC increased their price objective on shares of ServiceNow from $1,050.00 to $1,200.00 and gave the stock a “buy” rating in a research report on Thursday, July 24th. Finally, Guggenheim reissued a “sell” rating and issued a $724.00 price objective on shares of ServiceNow in a research report on Thursday, July 17th. One investment analyst has rated the stock with a Strong Buy rating, thirty have given a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $1,122.20.

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.