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

Richwood Investment Advisors LLC cut its holdings in ServiceNow, Inc. (NYSE:NOW) by 0.7% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,403 shares of the information technology services provider’s stock after selling 38 shares during the period. ServiceNow comprises approximately 4.6% of Richwood Investment Advisors LLC’s investment portfolio, making the stock its 4th biggest holding. Richwood Investment Advisors LLC’s holdings in ServiceNow were worth $5,555,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Bogart Wealth LLC increased 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 valued at $25,000 after buying an additional 17 shares during the last quarter. Graybill Wealth Management LTD. bought a new position in shares of ServiceNow in the 1st quarter valued at about $26,000. WASHINGTON TRUST Co increased its position in shares of ServiceNow by 620.0% in the first quarter. WASHINGTON TRUST Co now owns 36 shares of the information technology services provider’s stock valued at $29,000 after acquiring an additional 31 shares during the last quarter. Global X Japan Co. Ltd. bought a new stake in ServiceNow during the second quarter worth about $30,000. Finally, Dagco Inc. acquired a new position in ServiceNow during the first quarter valued at approximately $33,000. Institutional investors and hedge funds own 87.18% of the company’s stock.

Analysts Set New Price Targets

NOW has been the topic of several recent analyst reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of ServiceNow in a research report on Saturday, September 27th. Mizuho boosted their target price on shares of ServiceNow from $1,050.00 to $1,100.00 and gave the stock an “outperform” rating in a report on Thursday, June 12th. Wells Fargo & Company upped their price target on shares of ServiceNow from $1,150.00 to $1,225.00 and gave the stock an “overweight” rating in a research report on Thursday, July 24th. Bank of America lifted their price objective on shares of ServiceNow from $1,110.00 to $1,200.00 and gave the company a “buy” rating in a research report on Thursday, July 24th. Finally, Wall Street Zen cut shares of ServiceNow from a “buy” rating to a “hold” rating in a report on Saturday, August 30th. One analyst has rated the stock with a Strong Buy rating, thirty have assigned a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $1,122.20.

Insider Activity at ServiceNow

In related news, General Counsel Russell S. Elmer sold 1,698 shares of the business’s stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $884.26, for a total value of $1,501,473.48. Following the completion of the sale, the general counsel directly owned 4,332 shares in the company, valued at $3,830,614.32. The trade was a 28.16% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Anita M. Sands sold 1,097 shares of the company’s stock in a transaction on Friday, August 29th. The shares were sold at an average price of $915.11, for a total value of $1,003,875.67. Following the completion of the transaction, the director directly owned 9,307 shares in the company, valued at approximately $8,516,928.77. This represents a 10.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 18,737 shares of company stock valued at $16,798,825. Insiders own 0.38% of the company’s stock.

ServiceNow Price Performance

Shares of NOW opened at $913.27 on Tuesday. The company’s 50-day moving average is $913.22 and its 200-day moving average is $931.27. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.09 and a quick ratio of 1.09. The firm has a market capitalization of $189.96 billion, a PE ratio of 115.02, a PEG ratio of 4.11 and a beta of 0.92. ServiceNow, Inc. has a fifty-two week low of $678.66 and a fifty-two week high of $1,198.09.

ServiceNow (NYSE:NOW) last announced its earnings results on Wednesday, July 23rd. The information technology services provider reported $4.09 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 business had revenue of $3.22 billion during the quarter, compared to the consensus estimate of $3.12 billion. During the same quarter in the previous year, the firm posted $3.13 EPS. ServiceNow’s revenue was up 22.4% compared to the same quarter last year. Equities analysts forecast that ServiceNow, Inc. will post 8.93 EPS for the current year.

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.