Tilt Investment Management Holdings PBC Sells 1,800 Shares of ServiceNow, Inc. (NYSE:NOW)

Tilt Investment Management Holdings PBC reduced its holdings in ServiceNow, Inc. (NYSE:NOW) by 68.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 841 shares of the information technology services provider’s stock after selling 1,800 shares during the quarter. Tilt Investment Management Holdings PBC’s holdings in ServiceNow were worth $594,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. Cambridge Trust Co. grew its holdings in shares of ServiceNow by 1.5% during the 4th quarter. Cambridge Trust Co. now owns 34,992 shares of the information technology services provider’s stock worth $24,721,000 after acquiring an additional 520 shares during the period. Oliver Lagore Vanvalin Investment Group grew its stake 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 purchasing an additional 14 shares during the period. Dock Street Asset Management Inc. raised its holdings in ServiceNow by 1.6% in the fourth quarter. Dock Street Asset Management Inc. now owns 17,723 shares of the information technology services provider’s stock worth $12,521,000 after purchasing an additional 279 shares in the last quarter. Federated Hermes Inc. lifted its position in ServiceNow by 19.8% during the fourth quarter. Federated Hermes Inc. now owns 300,122 shares of the information technology services provider’s stock valued at $212,033,000 after buying an additional 49,631 shares during the period. Finally, Roman Butler Fullerton & Co. bought a new stake in shares of ServiceNow during the 4th quarter valued at $1,600,000. 87.18% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other ServiceNow news, insider Paul John Smith sold 5,159 shares of ServiceNow stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $745.32, for a total transaction of $3,845,105.88. Following the transaction, the insider now owns 5,453 shares of the company’s stock, valued at $4,064,229.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other ServiceNow news, insider Paul John Smith sold 5,159 shares of the firm’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $745.32, for a total transaction of $3,845,105.88. Following the sale, the insider now directly owns 5,453 shares of the company’s stock, valued at $4,064,229.96. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO William R. Mcdermott sold 5,030 shares of the stock in a transaction dated 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 approximately $12,935,655.16. The disclosure for this sale can be found here. In the last ninety days, insiders sold 13,164 shares of company stock valued at $9,940,303. 0.25% of the stock is owned by corporate insiders.

ServiceNow Stock Performance

Shares of ServiceNow stock traded down $4.71 on Thursday, hitting $731.74. 478,111 shares of the company’s stock were exchanged, compared to its average volume of 1,166,989. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.06 and a current ratio of 1.06. The stock has a market capitalization of $150.28 billion, a PE ratio of 87.68, a PEG ratio of 4.71 and a beta of 0.97. ServiceNow, Inc. has a 1 year low of $427.68 and a 1 year high of $815.32. The company has a 50-day simple moving average of $767.53 and a 200-day simple moving average of $700.42.

ServiceNow (NYSE:NOW) last released its 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 11.85% and a net margin of 19.30%. The company had revenue of $2.44 billion for the quarter, compared to the consensus estimate of $2.40 billion. During the same period in the previous year, the business earned $0.88 earnings per share. ServiceNow’s quarterly revenue was up 25.6% compared to the same quarter last year. As a group, equities analysts anticipate that ServiceNow, Inc. will post 6.16 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Royal Bank of Canada raised their target price on shares of ServiceNow from $840.00 to $850.00 and gave the company an “outperform” rating in a research note on Thursday, January 25th. Needham & Company LLC reiterated a “buy” rating and set a $900.00 price objective on shares of ServiceNow in a research note on Tuesday. Mizuho boosted their target price on ServiceNow from $750.00 to $820.00 and gave the stock a “buy” rating in a report on Thursday, January 25th. Citigroup raised their price target on ServiceNow from $896.00 to $906.00 and gave the company a “buy” rating in a report on Thursday. Finally, Barclays upped their price target on shares of ServiceNow from $765.00 to $870.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 23rd. Three equities research analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $780.37.

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.