ServiceNow, Inc. $NOW Shares Sold by Sterling Investment Counsel LLC

Sterling Investment Counsel LLC lessened its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 81.7% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 325 shares of the information technology services provider’s stock after selling 1,455 shares during the quarter. Sterling Investment Counsel LLC’s holdings in ServiceNow were worth $334,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Bogart Wealth LLC lifted its position in shares of ServiceNow by 113.3% during the first quarter. Bogart Wealth LLC now owns 32 shares of the information technology services provider’s stock worth $25,000 after purchasing an additional 17 shares in the last quarter. Graybill Wealth Management LTD. acquired a new stake in shares of ServiceNow during the first quarter worth about $26,000. WASHINGTON TRUST Co lifted its position in shares of ServiceNow by 620.0% during the first quarter. WASHINGTON TRUST Co now owns 36 shares of the information technology services provider’s stock worth $29,000 after purchasing an additional 31 shares in the last quarter. Global X Japan Co. Ltd. acquired a new stake in shares of ServiceNow during the second quarter worth about $30,000. Finally, Dagco Inc. acquired a new stake in shares of ServiceNow during the first quarter worth about $33,000. Institutional investors and hedge funds own 87.18% of the company’s stock.

ServiceNow Stock Down 0.3%

NOW stock opened at $909.88 on Friday. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.14. ServiceNow, Inc. has a twelve month low of $678.66 and a twelve month high of $1,198.09. The company’s 50 day moving average is $915.79 and its two-hundred day moving average is $928.77. The stock has a market cap of $189.26 billion, a P/E ratio of 114.59, a PEG ratio of 4.11 and a beta of 0.92.

ServiceNow (NYSE:NOW) last released its quarterly earnings data on Wednesday, July 23rd. The information technology services provider reported $4.09 earnings per share for the quarter, topping analysts’ consensus estimates 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 earned $3.13 earnings per share. The firm’s revenue for the quarter was up 22.4% on a year-over-year basis. Research analysts expect that ServiceNow, Inc. will post 8.93 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on NOW. Piper Sandler upped their target price on shares of ServiceNow from $1,120.00 to $1,150.00 and gave the stock an “overweight” rating in a research note on Thursday, July 24th. Barclays set a $1,210.00 target price on shares of ServiceNow in a research note on Thursday, July 24th. Needham & Company LLC upped their target price 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. Citigroup upped their target price on shares of ServiceNow from $1,160.00 to $1,234.00 and gave the stock a “buy” rating in a research note on Thursday, July 24th. Finally, Guggenheim restated a “sell” rating and set a $724.00 target price on shares of ServiceNow in a research note on Thursday, July 17th. One research analyst has rated the stock with a Strong Buy rating, thirty have given a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, ServiceNow presently has an average rating of “Moderate Buy” and an average target price of $1,122.20.

Insider Activity at ServiceNow

In other ServiceNow news, CEO William R. Mcdermott sold 5,825 shares of the firm’s stock in a transaction that occurred on Thursday, August 28th. The shares were sold at an average price of $916.63, for a total transaction of $5,339,369.75. Following the sale, the chief executive officer owned 6,614 shares of the company’s stock, valued at approximately $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 can be accessed through this link. 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 sale, the director directly owned 9,307 shares in the company, valued at approximately $8,516,928.77. The trade was a 10.54% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 18,737 shares of company stock valued at $16,798,825 in the last quarter. Company insiders own 0.38% of the company’s stock.

ServiceNow Company 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.