Kingswood Wealth Advisors LLC Sells 971 Shares of ServiceNow, Inc. (NYSE:NOW)

Kingswood Wealth Advisors LLC decreased its position in shares of ServiceNow, Inc. (NYSE:NOW) by 20.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,693 shares of the information technology services provider’s stock after selling 971 shares during the quarter. Kingswood Wealth Advisors LLC’s holdings in ServiceNow were worth $2,816,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in NOW. Vanguard Group Inc. increased its holdings in shares of ServiceNow by 0.7% in the 3rd quarter. Vanguard Group Inc. now owns 17,753,781 shares of the information technology services provider’s stock valued at $9,923,653,000 after acquiring an additional 122,577 shares during the period. Jennison Associates LLC lifted its position in shares of ServiceNow by 2.2% during the fourth quarter. Jennison Associates LLC now owns 2,521,190 shares of the information technology services provider’s stock valued at $1,781,195,000 after buying an additional 53,719 shares during the last quarter. Norges Bank bought a new stake in shares of ServiceNow in the 4th quarter valued at about $1,648,259,000. Massachusetts Financial Services Co. MA grew its position in shares of ServiceNow by 3.7% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,281,748 shares of the information technology services provider’s stock worth $1,612,032,000 after buying an additional 81,028 shares during the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its stake in shares of ServiceNow by 18.3% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 1,754,027 shares of the information technology services provider’s stock worth $1,239,198,000 after acquiring an additional 271,153 shares in the last quarter. Hedge funds and other institutional investors own 87.18% of the company’s stock.

Insider Activity

In related news, insider Paul John Smith sold 190 shares of the company’s stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $718.78, for a total transaction of $136,568.20. Following the completion of the sale, the insider now owns 3,010 shares of the company’s stock, valued at approximately $2,163,527.80. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other ServiceNow news, insider Christopher Bedi sold 215 shares of ServiceNow stock in a transaction dated Wednesday, June 5th. The shares were sold at an average price of $700.00, for a total transaction of $150,500.00. Following the transaction, the insider now directly owns 15,892 shares of the company’s stock, valued at $11,124,400. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Paul John Smith sold 190 shares of the firm’s stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $718.78, for a total transaction of $136,568.20. Following the sale, the insider now owns 3,010 shares of the company’s stock, valued at approximately $2,163,527.80. The disclosure for this sale can be found here. Insiders sold 5,530 shares of company stock worth $3,997,012 over the last three months. Insiders own 0.25% of the company’s stock.

ServiceNow Price Performance

NYSE:NOW traded down $0.52 during trading hours on Wednesday, reaching $754.29. 986,045 shares of the company were exchanged, compared to its average volume of 1,281,881. ServiceNow, Inc. has a twelve month low of $527.24 and a twelve month high of $815.32. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.18. The stock’s 50-day moving average is $723.87 and its 200-day moving average is $739.98. The firm has a market cap of $154.63 billion, a PE ratio of 80.62, a price-to-earnings-growth ratio of 4.73 and a beta of 0.96.

ServiceNow (NYSE:NOW) last posted its quarterly earnings data on Wednesday, April 24th. The information technology services provider reported $1.82 EPS for the quarter, topping the consensus estimate of $1.41 by $0.41. The company had revenue of $2.60 billion during the quarter, compared to analyst estimates of $2.59 billion. ServiceNow had a return on equity of 13.59% and a net margin of 20.34%. On average, sell-side analysts anticipate that ServiceNow, Inc. will post 6.5 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on NOW shares. William Blair reaffirmed an “outperform” rating on shares of ServiceNow in a research report on Tuesday, May 7th. Morgan Stanley boosted their price target on ServiceNow from $814.00 to $830.00 and gave the stock an “overweight” rating in a research note on Thursday, April 25th. JMP Securities reaffirmed a “market outperform” rating and issued a $825.00 price objective on shares of ServiceNow in a research report on Tuesday, May 7th. StockNews.com downgraded shares of ServiceNow from a “buy” rating to a “hold” rating in a research report on Friday, April 26th. Finally, Citigroup raised their price target on shares of ServiceNow from $896.00 to $906.00 and gave the stock a “buy” rating in a report on Thursday, April 18th. Three analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $814.48.

About ServiceNow

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.