Gryphon Financial Partners LLC Has $1.31 Million Stock Holdings in ServiceNow, Inc. (NYSE:NOW)

Gryphon Financial Partners LLC cut its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 3.3% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,665 shares of the information technology services provider’s stock after selling 57 shares during the period. Gryphon Financial Partners LLC’s holdings in ServiceNow were worth $1,310,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Norges Bank purchased a new position in shares of ServiceNow during the fourth quarter valued at $1,648,259,000. Swedbank AB purchased a new position in shares of ServiceNow during the first quarter valued at $897,908,000. Global Assets Advisory LLC purchased a new position in shares of ServiceNow during the first quarter valued at $403,034,000. Vanguard Group Inc. grew its holdings in shares of ServiceNow by 1.8% during the first quarter. Vanguard Group Inc. now owns 18,450,570 shares of the information technology services provider’s stock valued at $14,066,715,000 after buying an additional 331,797 shares in the last quarter. Finally, AustralianSuper Pty Ltd purchased a new position in shares of ServiceNow during the second quarter valued at $218,786,000. 87.18% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at ServiceNow

In other ServiceNow news, insider Nicholas Tzitzon sold 1,857 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $829.68, for a total value of $1,540,715.76. Following the completion of the transaction, the insider now owns 3,649 shares of the company’s stock, valued at approximately $3,027,502.32. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other ServiceNow news, insider Nicholas Tzitzon sold 1,857 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $829.68, for a total value of $1,540,715.76. Following the completion of the transaction, the insider now owns 3,649 shares of the company’s stock, valued at approximately $3,027,502.32. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, General Counsel Russell S. Elmer sold 1,937 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $779.81, for a total value of $1,510,491.97. Following the completion of the transaction, the general counsel now directly owns 6,736 shares of the company’s stock, valued at approximately $5,252,800.16. The disclosure for this sale can be found here. Insiders sold a total of 6,914 shares of company stock valued at $5,608,936 in the last quarter. Corporate insiders own 0.25% of the company’s stock.

ServiceNow Price Performance

NYSE NOW opened at $860.00 on Tuesday. ServiceNow, Inc. has a twelve month low of $527.24 and a twelve month high of $863.85. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.12 and a current ratio of 1.12. The stock has a market capitalization of $177.16 billion, a PE ratio of 91.51, a P/E/G ratio of 4.95 and a beta of 0.98. The stock has a 50-day simple moving average of $800.67 and a 200 day simple moving average of $763.57.

ServiceNow (NYSE:NOW) last posted its quarterly earnings data on Wednesday, July 24th. The information technology services provider reported $3.13 earnings per share for the quarter, topping the consensus estimate of $2.85 by $0.28. ServiceNow had a return on equity of 14.52% and a net margin of 11.51%. The business had revenue of $2.63 billion during the quarter, compared to analysts’ expectations of $2.61 billion. During the same quarter in the previous year, the firm earned $0.77 EPS. The firm’s revenue was up 22.2% compared to the same quarter last year. Research analysts anticipate that ServiceNow, Inc. will post 6.78 EPS for the current year.

Analyst Ratings Changes

NOW has been the topic of a number of research analyst reports. Robert W. Baird lifted their price target on ServiceNow from $885.00 to $900.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Stifel Nicolaus lifted their price target on ServiceNow from $820.00 to $900.00 and gave the company a “buy” rating in a report on Thursday, July 25th. KeyCorp lowered their target price on ServiceNow from $950.00 to $920.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 2nd. Royal Bank of Canada boosted their target price on ServiceNow from $850.00 to $880.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Finally, JMP Securities boosted their target price on ServiceNow from $825.00 to $850.00 and gave the company a “market outperform” rating in a research note on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-five have given a buy rating to the company. According to MarketBeat.com, ServiceNow currently has an average rating of “Moderate Buy” and an average target price of $849.62.

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.