Lion Street Advisors LLC Cuts Position in ServiceNow, Inc. $NOW

Lion Street Advisors LLC cut its stake in ServiceNow, Inc. (NYSE:NOW) by 3.5% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 641 shares of the information technology services provider’s stock after selling 23 shares during the period. Lion Street Advisors LLC’s holdings in ServiceNow were worth $659,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Haverford Trust Co raised its stake in ServiceNow by 0.9% in the first quarter. Haverford Trust Co now owns 1,176 shares of the information technology services provider’s stock worth $936,000 after buying an additional 10 shares in the last quarter. Ascent Group LLC raised its stake in ServiceNow by 0.5% in the first quarter. Ascent Group LLC now owns 2,045 shares of the information technology services provider’s stock worth $1,628,000 after buying an additional 10 shares in the last quarter. Edgemoor Investment Advisors Inc. increased its stake in shares of ServiceNow by 2.5% during the first quarter. Edgemoor Investment Advisors Inc. now owns 459 shares of the information technology services provider’s stock valued at $366,000 after purchasing an additional 11 shares in the last quarter. Integrated Investment Consultants LLC increased its stake in shares of ServiceNow by 2.5% during the first quarter. Integrated Investment Consultants LLC now owns 450 shares of the information technology services provider’s stock valued at $358,000 after purchasing an additional 11 shares in the last quarter. Finally, one8zero8 LLC increased its stake in shares of ServiceNow by 3.2% during the first quarter. one8zero8 LLC now owns 356 shares of the information technology services provider’s stock valued at $283,000 after purchasing an additional 11 shares in the last quarter. 87.18% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Vice Chairman Nicholas Tzitzon sold 1,719 shares of the firm’s stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $866.45, for a total value of $1,489,427.55. Following the sale, the insider owned 3,000 shares in the company, valued at approximately $2,599,350. This trade represents a 36.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Anita M. Sands sold 1,097 shares of the firm’s stock in a transaction that occurred on Friday, August 29th. The stock was sold at an average price of $915.11, for a total transaction of $1,003,875.67. Following the completion of the sale, the director owned 9,307 shares in the company, valued at $8,516,928.77. This represents a 10.54% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 18,737 shares of company stock valued at $16,798,825 in the last ninety days. Corporate insiders own 0.38% of the company’s stock.

ServiceNow Price Performance

Shares of NOW opened at $888.63 on Monday. ServiceNow, Inc. has a twelve month low of $678.66 and a twelve month high of $1,198.09. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.14. The firm has a 50 day moving average of $909.21 and a 200 day moving average of $932.99. The company has a market capitalization of $184.84 billion, a P/E ratio of 111.92, a price-to-earnings-growth ratio of 4.00 and a beta of 0.92.

ServiceNow (NYSE:NOW) last issued its earnings results on Wednesday, July 23rd. The information technology services provider reported $4.09 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts’ expectations of $3.12 billion. During the same quarter last year, the company posted $3.13 earnings per share. The firm’s quarterly revenue was up 22.4% on a year-over-year basis. As a group, equities research analysts anticipate that ServiceNow, Inc. will post 8.93 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Morgan Stanley raised shares of ServiceNow from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $1,040.00 to $1,250.00 in a research note on Wednesday, September 24th. DA Davidson raised their target price on shares of ServiceNow from $1,150.00 to $1,250.00 and gave the company a “buy” rating in a research note on Thursday, July 24th. Jefferies Financial Group raised their target price on shares of ServiceNow from $1,025.00 to $1,150.00 and gave the company a “buy” rating in a research note on Thursday, July 24th. Oppenheimer reaffirmed an “outperform” rating and set a $1,150.00 target price (up previously from $1,100.00) on shares of ServiceNow in a research note on Thursday, July 24th. Finally, Guggenheim reaffirmed a “sell” rating and set a $724.00 target price on shares of ServiceNow in a research note on Thursday, July 17th. One investment analyst has rated the stock with a Strong Buy rating, thirty have given a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,122.20.

ServiceNow 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.