Moody Lynn & Lieberson LLC Cuts Stock Position in ServiceNow, Inc. (NYSE:NOW)

Moody Lynn & Lieberson LLC cut its holdings in ServiceNow, Inc. (NYSE:NOW) by 0.3% in the third quarter, HoldingsChannel reports. The firm owned 29,401 shares of the information technology services provider’s stock after selling 91 shares during the quarter. ServiceNow accounts for 1.6% of Moody Lynn & Lieberson LLC’s portfolio, making the stock its 20th largest position. Moody Lynn & Lieberson LLC’s holdings in ServiceNow were worth $26,296,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of NOW. Creekmur Asset Management LLC purchased a new position in shares of ServiceNow in the first quarter valued at $25,000. Versant Capital Management Inc grew its holdings in shares of ServiceNow by 466.7% in the second quarter. Versant Capital Management Inc now owns 34 shares of the information technology services provider’s stock valued at $27,000 after purchasing an additional 28 shares in the last quarter. EntryPoint Capital LLC grew its holdings in shares of ServiceNow by 3,900.0% in the first quarter. EntryPoint Capital LLC now owns 40 shares of the information technology services provider’s stock valued at $30,000 after purchasing an additional 39 shares in the last quarter. Ridgewood Investments LLC purchased a new position in shares of ServiceNow in the second quarter valued at $32,000. Finally, DT Investment Partners LLC grew its holdings in shares of ServiceNow by 77.3% in the third quarter. DT Investment Partners LLC now owns 39 shares of the information technology services provider’s stock valued at $35,000 after purchasing an additional 17 shares in the last quarter. 87.18% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other ServiceNow news, General Counsel Russell S. Elmer sold 1,937 shares of the business’s stock in a transaction dated 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 in the company, valued at approximately $5,252,800.16. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, insider Jacqueline P. Canney sold 353 shares of the business’s stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $924.96, for a total transaction of $326,510.88. Following the sale, the insider now owns 3,027 shares in the company, valued at approximately $2,799,853.92. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel Russell S. Elmer sold 1,937 shares of the business’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $779.81, for a total value of $1,510,491.97. Following the sale, the general counsel now owns 6,736 shares in the company, valued at $5,252,800.16. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 5,467 shares of company stock worth $4,450,447. 0.25% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on NOW shares. Piper Sandler raised their target price on shares of ServiceNow from $850.00 to $1,000.00 and gave the company an “overweight” rating in a report on Thursday. Mizuho lifted their price objective on shares of ServiceNow from $850.00 to $980.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. Truist Financial lifted their price objective on shares of ServiceNow from $780.00 to $900.00 and gave the stock a “hold” rating in a research note on Wednesday. Canaccord Genuity Group lifted their price objective on shares of ServiceNow from $850.00 to $1,000.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, Barclays lifted their price objective on shares of ServiceNow from $980.00 to $1,000.00 and gave the stock an “overweight” rating in a research note on Thursday. One research analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $970.22.

ServiceNow Stock Performance

Shares of ServiceNow stock opened at $956.40 on Friday. The company has a market capitalization of $197.02 billion, a PE ratio of 172.95, a P/E/G ratio of 5.04 and a beta of 0.99. 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 company has a 50-day simple moving average of $880.60 and a two-hundred day simple moving average of $795.09. ServiceNow, Inc. has a one year low of $527.24 and a one year high of $979.78.

ServiceNow (NYSE:NOW) last announced its earnings results on Wednesday, October 23rd. The information technology services provider reported $3.72 EPS for the quarter, topping analysts’ consensus estimates of $3.46 by $0.26. The business had revenue of $2.80 billion during the quarter, compared to the consensus estimate of $2.75 billion. ServiceNow had a net margin of 11.51% and a return on equity of 14.52%. The firm’s revenue was up 22.2% on a year-over-year basis. During the same period in the previous year, the company posted $1.21 earnings per share. Research analysts expect that ServiceNow, Inc. will post 7.41 EPS for the current fiscal year.

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.