Vicus Capital Reduces Holdings in ServiceNow, Inc. $NOW

Vicus Capital decreased its position in shares of ServiceNow, Inc. (NYSE:NOW) by 41.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 430 shares of the information technology services provider’s stock after selling 307 shares during the period. Vicus Capital’s holdings in ServiceNow were worth $442,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of NOW. Global X Japan Co. Ltd. purchased a new position in ServiceNow in the second quarter valued at about $30,000. Bogart Wealth LLC boosted its stake in shares of ServiceNow by 113.3% during 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. purchased a new position in shares of ServiceNow during the 1st quarter valued at approximately $26,000. WASHINGTON TRUST Co grew 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 buying an additional 31 shares in the last quarter. Finally, Dagco Inc. bought a new stake in shares of ServiceNow in the first quarter worth $33,000. 87.18% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Jefferies Financial Group increased their price objective 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. Needham & Company LLC boosted their price objective on ServiceNow from $1,050.00 to $1,200.00 and gave the company a “buy” rating in a report on Thursday, July 24th. BMO Capital Markets upped their price objective on ServiceNow from $1,150.00 to $1,160.00 and gave the company an “outperform” rating in a research note on Thursday, July 24th. Piper Sandler lifted their target price on ServiceNow from $1,120.00 to $1,150.00 and gave the stock an “overweight” rating in a research report on Thursday, July 24th. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $1,200.00 price target on shares of ServiceNow in a research report on Thursday, July 24th. One research analyst has rated the stock with a Strong Buy rating, thirty have issued a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $1,122.20.

ServiceNow Trading Down 0.3%

Shares of NYSE NOW opened at $909.88 on Friday. ServiceNow, Inc. has a 12-month low of $678.66 and a 12-month high of $1,198.09. The company has a market cap of $189.26 billion, a price-to-earnings ratio of 114.59, a price-to-earnings-growth ratio of 4.11 and a beta of 0.92. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.14. The stock’s 50 day simple moving average is $915.79 and its 200 day simple moving average is $928.77.

ServiceNow (NYSE:NOW) last issued its earnings results on Wednesday, July 23rd. The information technology services provider reported $4.09 earnings per share for the quarter, topping the consensus estimate of $3.57 by $0.52. The firm had revenue of $3.22 billion for the quarter, compared to analyst estimates of $3.12 billion. ServiceNow had a return on equity of 18.04% and a net margin of 13.78%.The firm’s revenue for the quarter was up 22.4% on a year-over-year basis. During the same period last year, the company earned $3.13 earnings per share. Equities research analysts expect that ServiceNow, Inc. will post 8.93 EPS for the current year.

Insider Buying and Selling

In other news, insider Paul Fipps sold 1,452 shares of ServiceNow stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $895.05, for a total transaction of $1,299,612.60. Following the sale, the insider owned 457 shares of the company’s stock, valued at approximately $409,037.85. The trade was a 76.06% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Vice Chairman Nicholas Tzitzon sold 1,719 shares of the stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $866.45, for a total value of $1,489,427.55. Following the completion of the transaction, the insider directly owned 3,000 shares of the company’s stock, valued at $2,599,350. This trade represents a 36.43% decrease in their ownership of the stock. 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 ninety days. 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.