Russell Investments Group Ltd. Sells 6,321 Shares of ServiceNow, Inc. (NYSE:NOW)

Russell Investments Group Ltd. decreased its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 2.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 296,114 shares of the information technology services provider’s stock after selling 6,321 shares during the period. Russell Investments Group Ltd. owned about 0.14% of ServiceNow worth $209,090,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Argonautica Private Wealth Management Inc. lifted its position in ServiceNow by 1.0% during the fourth quarter. Argonautica Private Wealth Management Inc. now owns 1,376 shares of the information technology services provider’s stock valued at $972,000 after purchasing an additional 13 shares during the period. Wealth Management Partners LLC raised its position 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 worth $375,000 after acquiring an additional 14 shares during the period. Oliver Lagore Vanvalin Investment Group raised its position in ServiceNow by 30.4% in the fourth quarter. Oliver Lagore Vanvalin Investment Group now owns 60 shares of the information technology services provider’s stock worth $42,000 after acquiring an additional 14 shares during the period. Trust Co. of Vermont raised its position in ServiceNow by 8.6% in 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 period. Finally, Claro Advisors LLC raised its position in ServiceNow by 3.6% in the fourth quarter. Claro Advisors LLC now owns 428 shares of the information technology services provider’s stock worth $302,000 after acquiring an additional 15 shares during the period. Institutional investors own 87.18% of the company’s stock.

Insider Activity at ServiceNow

In other ServiceNow news, CEO William R. Mcdermott sold 5,030 shares of the company’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $753.08, for a total value of $3,787,992.40. Following the transaction, the chief executive officer now owns 17,177 shares of the company’s stock, valued at approximately $12,935,655.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Paul John Smith sold 1,180 shares of the company’s stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $767.12, for a total transaction of $905,201.60. Following the completion of the sale, the insider now directly owns 1,392 shares in the company, valued at approximately $1,067,831.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO William R. Mcdermott sold 5,030 shares of the company’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $753.08, for a total value of $3,787,992.40. Following the sale, the chief executive officer now owns 17,177 shares of the company’s stock, valued at $12,935,655.16. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 13,164 shares of company stock worth $9,940,303. Company insiders own 0.25% of the company’s stock.

Wall Street Analyst Weigh In

NOW has been the topic of several recent research reports. Truist Financial increased their price target on shares of ServiceNow from $700.00 to $750.00 and gave the stock a “hold” rating in a research report on Thursday, January 25th. Robert W. Baird increased their price target on shares of ServiceNow from $780.00 to $870.00 and gave the stock an “outperform” rating in a research report on Thursday, January 25th. Guggenheim reissued a “neutral” rating on shares of ServiceNow in a research note on Monday, April 15th. Piper Sandler increased their price objective on shares of ServiceNow from $750.00 to $830.00 and gave the stock an “overweight” rating in a research note on Thursday, January 25th. Finally, The Goldman Sachs Group increased their price objective on shares of ServiceNow from $800.00 to $910.00 and gave the stock a “buy” rating in a research note on Thursday, January 25th. Four analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $782.85.

ServiceNow Trading Up 1.0 %

NYSE:NOW traded up $7.30 during midday trading on Friday, hitting $723.55. 1,445,884 shares of the company traded hands, compared to its average volume of 1,087,368. The firm’s fifty day moving average is $759.21 and its 200-day moving average is $707.90. ServiceNow, Inc. has a 12-month low of $427.68 and a 12-month high of $815.32. The firm has a market capitalization of $148.60 billion, a P/E ratio of 77.32, a P/E/G ratio of 4.53 and a beta of 0.97. The company has a current ratio of 1.05, a quick ratio of 1.06 and a debt-to-equity ratio of 0.18.

ServiceNow (NYSE:NOW) last released its quarterly 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 return on equity of 13.59% and a net margin of 20.34%. The company had revenue of $2.44 billion for the quarter, compared to analyst estimates of $2.40 billion. During the same quarter in the prior year, the firm posted $0.88 EPS. ServiceNow’s quarterly revenue was up 25.6% compared to the same quarter last year. On average, sell-side analysts predict that ServiceNow, Inc. will post 6.16 EPS for the current year.

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.