Accurate Wealth Management LLC Sells 50 Shares of ServiceNow, Inc. (NYSE:NOW)

Accurate Wealth Management LLC reduced its position in ServiceNow, Inc. (NYSE:NOW) by 3.1% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 1,573 shares of the information technology services provider’s stock after selling 50 shares during the period. Accurate Wealth Management LLC’s holdings in ServiceNow were worth $1,612,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Mayfair Advisory Group LLC acquired a new stake in shares of ServiceNow in the fourth quarter valued at approximately $215,000. MRA Advisory Group bought a new stake in ServiceNow in the 4th quarter valued at $466,000. Horizon Bancorp Inc. IN raised its stake in ServiceNow by 11.0% in the 4th quarter. Horizon Bancorp Inc. IN now owns 282 shares of the information technology services provider’s stock valued at $299,000 after acquiring an additional 28 shares during the period. Marcum Wealth LLC lifted its holdings in ServiceNow by 7.1% during the 4th quarter. Marcum Wealth LLC now owns 680 shares of the information technology services provider’s stock valued at $721,000 after purchasing an additional 45 shares during the last quarter. Finally, Gunderson Capital Management Inc. bought a new position in ServiceNow during the fourth quarter worth $7,481,000. Institutional investors own 87.18% of the company’s stock.

ServiceNow Stock Performance

NYSE:NOW opened at $1,029.85 on Wednesday. ServiceNow, Inc. has a twelve month low of $637.99 and a twelve month high of $1,157.90. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.16. The stock’s 50-day simple moving average is $1,066.34 and its 200 day simple moving average is $927.52. The firm has a market capitalization of $212.15 billion, a PE ratio of 160.16, a price-to-earnings-growth ratio of 6.43 and a beta of 0.99.

ServiceNow (NYSE:NOW) last posted 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 firm had revenue of $2.80 billion during the quarter, compared to analysts’ expectations of $2.75 billion. ServiceNow had a net margin of 12.77% and a return on equity of 16.03%. The business’s revenue for the quarter was up 22.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.21 earnings per share. On average, analysts anticipate that ServiceNow, Inc. will post 7.07 EPS for the current fiscal year.

Insider Activity at ServiceNow

In other news, insider Jacqueline P. Canney sold 76 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $1,010.94, for a total value of $76,831.44. Following the completion of the transaction, the insider now owns 3,027 shares of the company’s stock, valued at $3,060,115.38. This represents a 2.45 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, 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 transaction of $12,242,408.57. Following the completion of the transaction, the chief executive officer now owns 2,595 shares of the company’s stock, valued at approximately $2,588,953.65. This trade represents a 82.54 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 20,276 shares of company stock valued at $20,535,115 in the last quarter. Insiders own 0.25% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on NOW. Jefferies Financial Group increased their price objective on shares of ServiceNow from $1,100.00 to $1,250.00 and gave the company a “buy” rating in a research report on Monday, December 2nd. Wells Fargo & Company increased their price target on shares of ServiceNow from $1,150.00 to $1,250.00 and gave the company an “overweight” rating in a report on Thursday, December 5th. Barclays upped their target price on ServiceNow from $980.00 to $1,000.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th. Raymond James began coverage on ServiceNow in a report on Tuesday, December 24th. They set an “outperform” rating and a $1,200.00 price target for the company. Finally, Citigroup upped their price objective on ServiceNow from $1,068.00 to $1,071.00 and gave the company a “buy” rating in a report on Friday, October 25th. One analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-five have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, ServiceNow presently has an average rating of “Moderate Buy” and a consensus target price of $1,071.39.

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.