SWS Partners Lowers Stake in ServiceNow, Inc. (NYSE:NOW)

SWS Partners cut its stake in ServiceNow, Inc. (NYSE:NOW) by 10.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,808 shares of the information technology services provider’s stock after selling 207 shares during the quarter. SWS Partners’ holdings in ServiceNow were worth $1,617,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in NOW. Creekmur Asset Management LLC purchased a new position in ServiceNow in the first quarter valued at about $25,000. Versant Capital Management Inc raised its stake in shares of ServiceNow by 466.7% during the 2nd quarter. Versant Capital Management Inc now owns 34 shares of the information technology services provider’s stock worth $27,000 after acquiring an additional 28 shares in the last quarter. EntryPoint Capital LLC lifted its position in ServiceNow by 3,900.0% during the first quarter. EntryPoint Capital LLC now owns 40 shares of the information technology services provider’s stock valued at $30,000 after acquiring an additional 39 shares during the last quarter. Ridgewood Investments LLC acquired a new stake in ServiceNow in the second quarter valued at approximately $32,000. Finally, TFC Financial Management Inc. grew its holdings in ServiceNow by 466.7% in the first quarter. TFC Financial Management Inc. now owns 51 shares of the information technology services provider’s stock worth $39,000 after purchasing an additional 42 shares during the last quarter. 87.18% of the stock is currently owned by hedge funds and other institutional investors.

ServiceNow Price Performance

Shares of NYSE:NOW traded down $13.53 during trading on Tuesday, reaching $931.16. 507,220 shares of the company’s stock traded hands, compared to its average volume of 1,272,795. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.17. ServiceNow, Inc. has a fifty-two week low of $527.24 and a fifty-two week high of $949.59. The company has a 50-day simple moving average of $864.42 and a 200-day simple moving average of $787.72. The firm has a market cap of $190.89 billion, a PE ratio of 101.04, a P/E/G ratio of 5.63 and a beta of 0.99.

ServiceNow (NYSE:NOW) last posted its quarterly earnings data on Wednesday, July 24th. The information technology services provider reported $3.13 EPS for the quarter, beating analysts’ consensus estimates 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 period in the previous year, the business earned $0.77 earnings per share. The business’s revenue was up 22.2% compared to the same quarter last year. As a group, analysts predict that ServiceNow, Inc. will post 6.78 earnings per share for the current year.

Insider Buying and Selling

In related news, CFO Gina Mastantuono sold 1,800 shares of ServiceNow stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $825.00, for a total value of $1,485,000.00. Following the sale, the chief financial officer now directly owns 11,490 shares in the company, valued at approximately $9,479,250. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, CFO Gina Mastantuono sold 1,800 shares of the stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $825.00, for a total value of $1,485,000.00. Following the completion of the transaction, the chief financial officer now directly owns 11,490 shares of the company’s stock, valued at approximately $9,479,250. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Russell S. Elmer sold 1,937 shares of ServiceNow stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $779.81, for a total transaction of $1,510,491.97. Following the sale, the general counsel now directly owns 6,736 shares in the company, valued at approximately $5,252,800.16. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 6,914 shares of company stock valued at $5,608,936. 0.25% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several analysts have recently commented on the company. Needham & Company LLC reiterated a “buy” rating and set a $900.00 price objective on shares of ServiceNow in a report on Monday, September 9th. JPMorgan Chase & Co. raised their price target on ServiceNow from $780.00 to $820.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. Stifel Nicolaus boosted their price target on ServiceNow from $820.00 to $900.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. JMP Securities increased their price objective on shares of ServiceNow from $825.00 to $850.00 and gave the company a “market outperform” rating in a research report on Thursday, July 25th. Finally, Robert W. Baird boosted their target price on shares of ServiceNow from $885.00 to $900.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and twenty-five have assigned a buy rating to the stock. Based on data from MarketBeat, ServiceNow presently has a consensus rating of “Moderate Buy” and a consensus price target of $880.04.

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.