Portside Wealth Group LLC Sells 51 Shares of ServiceNow, Inc. (NYSE:NOW)

Portside Wealth Group LLC lowered its position in ServiceNow, Inc. (NYSE:NOW) by 0.5% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 9,334 shares of the information technology services provider’s stock after selling 51 shares during the period. ServiceNow comprises about 1.4% of Portside Wealth Group LLC’s investment portfolio, making the stock its 11th biggest holding. Portside Wealth Group LLC’s holdings in ServiceNow were worth $8,348,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of NOW. Creekmur Asset Management LLC bought a new stake in ServiceNow during the first quarter valued at about $25,000. Versant Capital Management Inc grew its holdings in ServiceNow by 466.7% during 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 during the period. EntryPoint Capital LLC lifted its position 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 acquiring 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 about $32,000. Finally, DT Investment Partners LLC lifted its position 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 acquiring an additional 17 shares in the last quarter. Institutional investors own 87.18% of the company’s stock.

ServiceNow Trading Up 2.1 %

NOW opened at $1,015.45 on Friday. The stock has a market cap of $209.18 billion, a price-to-earnings ratio of 157.92, a P/E/G ratio of 5.48 and a beta of 0.98. The stock’s 50 day moving average price is $905.83 and its 200-day moving average price is $809.18. ServiceNow, Inc. has a one year low of $615.54 and a one year high of $1,024.44. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.13 and a current ratio of 1.13.

ServiceNow (NYSE:NOW) last announced its quarterly earnings data on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.46 by $0.26. ServiceNow had a return on equity of 16.03% and a net margin of 12.77%. The company had revenue of $2.80 billion for the quarter, compared to analysts’ expectations of $2.75 billion. During the same quarter in the prior year, the firm earned $1.21 earnings per share. ServiceNow’s revenue was up 22.2% compared to the same quarter last year. On average, equities analysts forecast that ServiceNow, Inc. will post 7.07 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have recently commented on NOW shares. Royal Bank of Canada boosted their price objective on ServiceNow from $985.00 to $1,045.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Sanford C. Bernstein boosted their price objective on ServiceNow from $906.00 to $913.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Robert W. Baird boosted their price objective on ServiceNow from $900.00 to $975.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. KeyCorp boosted their price objective on ServiceNow from $1,020.00 to $1,040.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th. Finally, UBS Group boosted their price objective on ServiceNow from $900.00 to $1,055.00 and gave the company a “buy” rating in a research report on Tuesday, October 8th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-five have given a buy rating to the stock. According to data from MarketBeat, ServiceNow presently has an average rating of “Moderate Buy” and a consensus price target of $970.33.

Insider Buying and Selling

In related news, Director Paul Edward Chamberlain sold 135 shares of the stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $822.00, for a total value of $110,970.00. Following the transaction, the director now owns 10,767 shares of the company’s stock, valued at $8,850,474. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other ServiceNow news, insider Jacqueline P. Canney sold 804 shares of the stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $812.00, for a total transaction of $652,848.00. Following the sale, the insider now owns 3,027 shares of the company’s stock, valued at approximately $2,457,924. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Paul Edward Chamberlain sold 135 shares of the stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $822.00, for a total value of $110,970.00. Following the sale, the director now directly owns 10,767 shares in the company, valued at $8,850,474. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 3,343 shares of company stock valued at $2,791,181 over the last quarter. 0.25% of the stock is owned by corporate insiders.

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.