Vision Financial Markets LLC Lowers Position in ServiceNow, Inc. $NOW

Vision Financial Markets LLC decreased its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 33.3% in the 2nd quarter, Holdings Channel reports. The firm owned 50 shares of the information technology services provider’s stock after selling 25 shares during the period. Vision Financial Markets LLC’s holdings in ServiceNow were worth $51,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of NOW. Bogart Wealth LLC grew its stake in ServiceNow by 113.3% in the 1st quarter. Bogart Wealth LLC now owns 32 shares of the information technology services provider’s stock worth $25,000 after buying an additional 17 shares in the last quarter. Graybill Wealth Management LTD. purchased a new stake in shares of ServiceNow during the 1st quarter valued at $26,000. WASHINGTON TRUST Co lifted its holdings in shares of ServiceNow by 620.0% during the 1st quarter. WASHINGTON TRUST Co now owns 36 shares of the information technology services provider’s stock worth $29,000 after acquiring an additional 31 shares during the last quarter. Global X Japan Co. Ltd. purchased a new position in ServiceNow in the second quarter worth $30,000. Finally, LGT Financial Advisors LLC purchased a new position in ServiceNow in the second quarter worth $32,000. 87.18% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

NOW has been the topic of a number of research reports. JMP Securities restated a “market outperform” rating and set a $1,300.00 price target on shares of ServiceNow in a research report on Monday, August 4th. Oppenheimer restated an “outperform” rating and issued a $1,150.00 target price (up previously from $1,100.00) on shares of ServiceNow in a research report on Thursday, July 24th. DA Davidson increased their price target on shares of ServiceNow from $1,150.00 to $1,250.00 and gave the company a “buy” rating in a research report on Thursday, July 24th. Needham & Company LLC lifted their price target on shares of ServiceNow from $1,050.00 to $1,200.00 and gave the stock a “buy” rating in a research note on Thursday, July 24th. Finally, Morgan Stanley upgraded shares of ServiceNow from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $1,040.00 to $1,250.00 in a report on Wednesday, September 24th. Two investment analysts have rated the stock with a Strong Buy rating, thirty-one have assigned a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $1,124.17.

Insider Buying and Selling at ServiceNow

In related news, CEO William R. Mcdermott sold 5,825 shares of the firm’s stock in a transaction dated Thursday, August 28th. The stock was sold at an average price of $916.63, for a total value of $5,339,369.75. Following the sale, the chief executive officer directly owned 6,614 shares of the company’s stock, valued at $6,062,590.82. This trade represents a 46.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, General Counsel Russell S. Elmer sold 1,698 shares of the business’s stock in a transaction dated 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 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 disclosure for this sale can be found here. Insiders have sold a total of 17,980 shares of company stock worth $16,049,017 over the last ninety days. 0.38% of the stock is owned by company insiders.

ServiceNow Stock Performance

NYSE:NOW opened at $947.33 on Tuesday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.09 and a current ratio of 1.09. ServiceNow, Inc. has a fifty-two week low of $678.66 and a fifty-two week high of $1,198.09. The firm has a market cap of $197.05 billion, a PE ratio of 119.31, a price-to-earnings-growth ratio of 4.20 and a beta of 0.92. The business has a 50 day moving average price of $918.98 and a 200-day moving average price of $944.11.

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.