MJP Associates Inc. ADV Reduces Stock Holdings in ServiceNow, Inc. (NYSE:NOW)

MJP Associates Inc. ADV lowered its position in ServiceNow, Inc. (NYSE:NOW) by 2.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 853 shares of the information technology services provider’s stock after selling 17 shares during the quarter. MJP Associates Inc. ADV’s holdings in ServiceNow were worth $603,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the company. Wealth Management Partners LLC increased its stake in ServiceNow by 2.7% in the fourth quarter. Wealth Management Partners LLC now owns 531 shares of the information technology services provider’s stock valued at $375,000 after purchasing an additional 14 shares during the last quarter. Trust Co. of Vermont grew its position in shares of ServiceNow by 8.6% during the third quarter. Trust Co. of Vermont now owns 190 shares of the information technology services provider’s stock worth $106,000 after acquiring an additional 15 shares during the last quarter. Nemes Rush Group LLC grew its position in shares of ServiceNow by 16.3% during the third quarter. Nemes Rush Group LLC now owns 121 shares of the information technology services provider’s stock worth $68,000 after acquiring an additional 17 shares during the last quarter. Mayflower Financial Advisors LLC grew its position in shares of ServiceNow by 1.4% during the third quarter. Mayflower Financial Advisors LLC now owns 1,271 shares of the information technology services provider’s stock worth $710,000 after acquiring an additional 18 shares during the last quarter. Finally, SWS Partners grew its position in shares of ServiceNow by 0.5% during the third quarter. SWS Partners now owns 3,521 shares of the information technology services provider’s stock worth $1,968,000 after acquiring an additional 18 shares during the last quarter. Hedge funds and other institutional investors own 87.18% of the company’s stock.

ServiceNow Price Performance

Shares of NYSE:NOW traded down $19.97 during midday trading on Wednesday, hitting $758.60. 1,401,035 shares of the stock were exchanged, compared to its average volume of 1,237,888. The company has a 50 day moving average price of $768.99 and a 200-day moving average price of $679.61. ServiceNow, Inc. has a twelve month low of $427.01 and a twelve month high of $815.32. The stock has a market cap of $155.51 billion, a P/E ratio of 90.03, a PEG ratio of 4.93 and a beta of 0.97. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.20.

ServiceNow (NYSE:NOW) last announced its earnings results on Wednesday, January 24th. The information technology services provider reported $3.11 earnings per share for the quarter, beating the consensus estimate of $2.77 by $0.34. ServiceNow had a net margin of 19.30% and a return on equity of 11.85%. The firm had revenue of $2.44 billion during the quarter, compared to the consensus estimate of $2.40 billion. During the same quarter in the previous year, the company posted $0.88 EPS. The firm’s revenue for the quarter was up 25.6% on a year-over-year basis. On average, research analysts forecast that ServiceNow, Inc. will post 6.11 earnings per share for the current year.

Insider Activity at ServiceNow

In other ServiceNow news, insider Paul John Smith sold 5,159 shares of ServiceNow stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $745.32, for a total value of $3,845,105.88. Following the completion of the sale, the insider now owns 5,453 shares in the company, valued at approximately $4,064,229.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other ServiceNow news, insider Paul John Smith sold 5,159 shares of ServiceNow stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $745.32, for a total value of $3,845,105.88. Following the completion of the sale, the insider now owns 5,453 shares in the company, valued at approximately $4,064,229.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO William R. Mcdermott sold 5,030 shares of ServiceNow stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $753.08, for a total value of $3,787,992.40. Following the completion of the sale, the chief executive officer now owns 17,177 shares of the company’s stock, valued at approximately $12,935,655.16. The disclosure for this sale can be found here. In the last quarter, insiders sold 13,164 shares of company stock valued at $9,940,303. 0.28% of the stock is owned by insiders.

Wall Street Analyst Weigh In

NOW has been the topic of a number of research reports. Barclays raised their target price on shares of ServiceNow from $765.00 to $870.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 23rd. Piper Sandler raised their target price on shares of ServiceNow from $750.00 to $830.00 and gave the stock an “overweight” rating in a research report on Thursday, January 25th. TheStreet upgraded shares of ServiceNow from a “c+” rating to a “b-” rating in a research report on Friday, December 8th. Needham & Company LLC lifted their price objective on shares of ServiceNow from $660.00 to $900.00 and gave the company a “buy” rating in a research report on Monday, January 22nd. Finally, KeyCorp initiated coverage on shares of ServiceNow in a research report on Thursday, March 21st. They issued an “overweight” rating and a $1,000.00 price objective on the stock. Two analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $762.96.

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.