Brown Shipley& Co Ltd Sells 3,213 Shares of ServiceNow, Inc. (NYSE:NOW)

Brown Shipley& Co Ltd lessened its position in ServiceNow, Inc. (NYSE:NOW) by 25.8% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 9,234 shares of the information technology services provider’s stock after selling 3,213 shares during the period. ServiceNow makes up about 4.1% of Brown Shipley& Co Ltd’s holdings, making the stock its 9th largest position. Brown Shipley& Co Ltd’s holdings in ServiceNow were worth $8,259,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Versant Capital Management Inc increased its position in shares of ServiceNow by 466.7% during the second 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. Truvestments Capital LLC acquired a new position in ServiceNow during the 3rd quarter valued at about $30,000. Ridgewood Investments LLC bought a new stake in ServiceNow during the 2nd quarter worth approximately $32,000. DT Investment Partners LLC raised its stake 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 worth $35,000 after purchasing an additional 17 shares during the last quarter. Finally, American Capital Advisory LLC bought a new position in shares of ServiceNow in the second quarter valued at approximately $39,000. Institutional investors own 87.18% of the company’s stock.

Insider Activity

In other news, CEO William R. Mcdermott sold 12,271 shares of the firm’s stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $997.67, for a total value of $12,242,408.57. Following the transaction, the chief executive officer now owns 2,595 shares in the company, valued at approximately $2,588,953.65. This trade represents a 82.54 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Anita M. Sands sold 2,229 shares of the company’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $1,064.60, for a total transaction of $2,372,993.40. Following the sale, the director now owns 11,000 shares of the company’s stock, valued at $11,710,600. This represents a 16.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 20,329 shares of company stock valued at $20,547,241. Insiders own 0.25% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on NOW shares. Barclays increased their price target on ServiceNow from $980.00 to $1,000.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th. Jefferies Financial Group increased their target price on shares of ServiceNow from $900.00 to $1,100.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. KeyCorp upped their price objective on shares of ServiceNow from $1,020.00 to $1,040.00 and gave the stock an “overweight” rating in a research report on Thursday, October 24th. Canaccord Genuity Group increased their price objective on shares of ServiceNow from $850.00 to $1,000.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. Finally, Truist Financial boosted their target price on ServiceNow from $780.00 to $900.00 and gave the stock a “hold” rating in a research note on Wednesday, October 23rd. One research analyst has rated the stock with a sell rating, two have given a hold rating, twenty-six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $989.07.

ServiceNow Trading Down 2.7 %

Shares of NOW opened at $1,041.42 on Thursday. ServiceNow, Inc. has a fifty-two week low of $637.99 and a fifty-two week high of $1,072.84. The firm has a market cap of $214.53 billion, a price-to-earnings ratio of 161.96, a PEG ratio of 6.04 and a beta of 0.98. The firm has a 50 day moving average price of $958.40 and a 200-day moving average price of $842.41. 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 issued 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. ServiceNow had a net margin of 12.77% and a return on equity of 16.03%. The company had revenue of $2.80 billion for the quarter, compared to analysts’ expectations of $2.75 billion. During the same quarter last year, the company earned $1.21 EPS. The firm’s revenue was up 22.2% compared to the same quarter last year. As a group, equities research analysts forecast that ServiceNow, Inc. will post 7.07 earnings per share for the current 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.