Cornerstone Advisors LLC Sells 400 Shares of ServiceNow, Inc. (NYSE:NOW)

Cornerstone Advisors LLC trimmed its position in shares of ServiceNow, Inc. (NYSE:NOW) by 13.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,600 shares of the information technology services provider’s stock after selling 400 shares during the quarter. Cornerstone Advisors LLC’s holdings in ServiceNow were worth $1,982,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of the company. University of Texas Texas AM Investment Managment Co. bought a new stake in shares of ServiceNow during the 4th quarter valued at about $29,000. AdvisorNet Financial Inc grew its position in ServiceNow by 266.7% during the fourth quarter. AdvisorNet Financial Inc now owns 44 shares of the information technology services provider’s stock valued at $31,000 after buying an additional 32 shares during the period. Disciplined Equity Management Inc. purchased a new stake in ServiceNow during the fourth quarter valued at approximately $35,000. Sachetta LLC bought a new position in ServiceNow in the fourth quarter worth approximately $35,000. Finally, PFG Private Wealth Management LLC purchased a new position in shares of ServiceNow during the 1st quarter worth $38,000. Institutional investors own 87.18% of the company’s stock.

Insider Transactions at ServiceNow

In related news, insider Christopher Bedi sold 215 shares of the business’s stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $700.00, for a total transaction of $150,500.00. Following the completion of the transaction, the insider now owns 15,892 shares in the company, valued at approximately $11,124,400. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, insider Christopher Bedi sold 215 shares of the business’s stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $700.00, for a total value of $150,500.00. Following the completion of the transaction, the insider now 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 accessible through this link. Also, insider Paul John Smith sold 125 shares of the stock in a transaction on Monday, May 13th. The shares were sold at an average price of $727.38, for a total value of $90,922.50. Following the sale, the insider now directly owns 3,112 shares in the company, valued at approximately $2,263,606.56. The disclosure for this sale can be found here. Over the last three months, insiders have sold 5,530 shares of company stock worth $3,997,012. 0.25% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities analysts recently commented on NOW shares. Wells Fargo & Company raised their target price on ServiceNow from $875.00 to $900.00 and gave the stock an “overweight” rating in a report on Tuesday, April 16th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $820.00 price objective on shares of ServiceNow in a research note on Tuesday, July 2nd. Guggenheim reiterated a “sell” rating and set a $640.00 price objective on shares of ServiceNow in a research note on Monday, July 8th. Morgan Stanley raised their target price on shares of ServiceNow from $814.00 to $830.00 and gave the stock an “overweight” rating in a research note on Thursday, April 25th. Finally, BMO Capital Markets dropped their price target on shares of ServiceNow from $850.00 to $830.00 and set an “outperform” rating for the company in a research report on Thursday, April 25th. One analyst has rated the stock with a sell rating, two have given a hold rating and twenty-three have given a buy rating to the company’s stock. According to data from MarketBeat, ServiceNow has a consensus rating of “Moderate Buy” and an average target price of $817.50.

ServiceNow Trading Up 1.7 %

Shares of NYSE:NOW traded up $12.43 during trading on Friday, reaching $751.20. The company’s stock had a trading volume of 1,187,234 shares, compared to its average volume of 1,239,988. The stock has a market capitalization of $154.00 billion, a PE ratio of 80.34, a price-to-earnings-growth ratio of 4.71 and a beta of 0.99. ServiceNow, Inc. has a 12 month low of $527.24 and a 12 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 firm’s 50 day simple moving average is $740.55 and its two-hundred day simple moving average is $747.86.

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

ServiceNow 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.