Yousif Capital Management LLC Sells 107 Shares of ServiceNow, Inc. $NOW

Yousif Capital Management LLC cut its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 0.4% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 25,106 shares of the information technology services provider’s stock after selling 107 shares during the quarter. Yousif Capital Management LLC’s holdings in ServiceNow were worth $25,811,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the business. Pandora Wealth Inc. increased its holdings in shares of ServiceNow by 6,485.7% during the second quarter. Pandora Wealth Inc. now owns 461 shares of the information technology services provider’s stock worth $474,000 after purchasing an additional 454 shares during the period. Almanack Investment Partners LLC. bought a new position in shares of ServiceNow during the second quarter worth approximately $256,000. Mitchell Capital Management Co. increased its holdings in shares of ServiceNow by 31.7% during the second quarter. Mitchell Capital Management Co. now owns 8,098 shares of the information technology services provider’s stock worth $7,802,000 after purchasing an additional 1,947 shares during the period. Index Fund Advisors Inc. increased its holdings in shares of ServiceNow by 147.8% during the second quarter. Index Fund Advisors Inc. now owns 954 shares of the information technology services provider’s stock worth $981,000 after purchasing an additional 569 shares during the period. Finally, Yarger Wealth Strategies LLC bought a new position in ServiceNow in the second quarter valued at approximately $245,000. 87.18% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently issued reports on NOW shares. DA Davidson lifted their price objective on shares of ServiceNow from $1,150.00 to $1,250.00 and gave the company a “buy” rating in a research note on Thursday, July 24th. Guggenheim reissued a “sell” rating and issued a $724.00 price objective on shares of ServiceNow in a research note on Thursday, July 17th. JMP Securities reissued a “market outperform” rating and issued a $1,300.00 price objective on shares of ServiceNow in a research note on Monday, August 4th. BMO Capital Markets lifted their price objective on shares of ServiceNow from $1,150.00 to $1,160.00 and gave the company an “outperform” rating in a research note on Thursday, July 24th. Finally, Erste Group Bank reissued a “hold” rating on shares of ServiceNow in a research note on Wednesday, July 23rd. One research analyst has rated the stock with a Strong Buy rating, thirty have issued a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $1,122.20.

ServiceNow Stock Performance

Shares of ServiceNow stock opened at $888.63 on Monday. ServiceNow, Inc. has a fifty-two week low of $678.66 and a fifty-two week high of $1,198.09. 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 $184.84 billion, a P/E ratio of 111.92, a P/E/G ratio of 4.00 and a beta of 0.92. The company’s 50 day moving average price is $909.21 and its two-hundred day moving average price is $932.99.

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, beating 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 firm had revenue of $3.22 billion for the quarter, compared to analyst estimates of $3.12 billion. During the same quarter last year, the business posted $3.13 earnings per share. The company’s quarterly revenue was up 22.4% on a year-over-year basis. On average, equities analysts forecast that ServiceNow, Inc. will post 8.93 earnings per share for the current fiscal year.

Insider Transactions at ServiceNow

In other ServiceNow news, Vice Chairman Nicholas Tzitzon sold 1,719 shares of the firm’s stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $866.45, for a total value of $1,489,427.55. Following the sale, the insider owned 3,000 shares in the company, valued at $2,599,350. This trade represents a 36.43% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Anita M. Sands sold 1,097 shares of ServiceNow stock in a transaction 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 transaction, the director owned 9,307 shares in the company, valued at approximately $8,516,928.77. This trade represents a 10.54% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 18,737 shares of company stock valued at $16,798,825. Corporate 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.