Taurus Asset Management LLC Reduces Holdings in ServiceNow, Inc. (NYSE:NOW)

Taurus Asset Management LLC lessened its holdings in shares of ServiceNow, Inc. (NYSE:NOWFree Report) by 3.1% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 18,560 shares of the information technology services provider’s stock after selling 585 shares during the period. Taurus Asset Management LLC’s holdings in ServiceNow were worth $10,374,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. First Foundation Advisors boosted its holdings in shares of ServiceNow by 2.1% in the 2nd quarter. First Foundation Advisors now owns 5,292 shares of the information technology services provider’s stock valued at $2,974,000 after buying an additional 108 shares in the last quarter. First Hawaiian Bank boosted its stake in ServiceNow by 2.2% in the third quarter. First Hawaiian Bank now owns 7,514 shares of the information technology services provider’s stock valued at $4,200,000 after acquiring an additional 165 shares in the last quarter. NorthRock Partners LLC grew its holdings in shares of ServiceNow by 7.9% during the second quarter. NorthRock Partners LLC now owns 714 shares of the information technology services provider’s stock worth $401,000 after purchasing an additional 52 shares during the last quarter. William Blair Investment Management LLC acquired a new stake in shares of ServiceNow during the second quarter worth about $144,098,000. Finally, Catalyst Financial Partners LLC lifted its holdings in shares of ServiceNow by 7.8% in the 2nd quarter. Catalyst Financial Partners LLC now owns 926 shares of the information technology services provider’s stock valued at $520,000 after purchasing an additional 67 shares during the last quarter. Hedge funds and other institutional investors own 87.14% of the company’s stock.

Analysts Set New Price Targets

NOW has been the topic of a number of research reports. Truist Financial raised their price target on ServiceNow from $700.00 to $750.00 and gave the stock a “hold” rating in a research note on Thursday, January 25th. Mizuho lifted their target price on shares of ServiceNow from $750.00 to $820.00 and gave the company a “buy” rating in a report on Thursday, January 25th. Wells Fargo & Company upped their price target on shares of ServiceNow from $675.00 to $725.00 and gave the company an “overweight” rating in a research report on Thursday, November 30th. TheStreet upgraded shares of ServiceNow from a “c+” rating to a “b-” rating in a research note on Friday, December 8th. Finally, Royal Bank of Canada upped their target price on shares of ServiceNow from $840.00 to $850.00 and gave the company an “outperform” rating in a report on Thursday, January 25th. Two investment analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the stock. According to data from MarketBeat.com, ServiceNow currently has an average rating of “Moderate Buy” and an average price target of $750.93.

View Our Latest Stock Report on NOW

Insider Transactions at ServiceNow

In related news, COO Chirantan Jitendra Desai sold 3,150 shares of the business’s stock in a transaction that occurred on Friday, November 24th. The stock was sold at an average price of $671.84, for a total transaction of $2,116,296.00. Following the completion of the transaction, the chief operating officer now owns 38,904 shares in the company, valued at approximately $26,137,263.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Paul John Smith sold 1,795 shares of the stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $781.06, for a total value of $1,402,002.70. Following the completion of the transaction, the insider now directly owns 994 shares of the company’s stock, valued at approximately $776,373.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Chirantan Jitendra Desai sold 3,150 shares of the stock in a transaction on Friday, November 24th. The stock was sold at an average price of $671.84, for a total value of $2,116,296.00. Following the completion of the transaction, the chief operating officer now directly owns 38,904 shares of the company’s stock, valued at approximately $26,137,263.36. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 9,377 shares of company stock worth $6,476,979. 0.28% of the stock is currently owned by company insiders.

ServiceNow Stock Performance

Shares of ServiceNow stock opened at $811.66 on Monday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.06 and a current ratio of 1.06. ServiceNow, Inc. has a 1 year low of $405.37 and a 1 year high of $815.32. The firm’s 50-day simple moving average is $726.08 and its 200-day simple moving average is $634.85. The firm has a market cap of $166.39 billion, a PE ratio of 97.38, a price-to-earnings-growth ratio of 5.18 and a beta of 0.99.

ServiceNow (NYSE:NOWGet Free Report) last announced its quarterly earnings data on Wednesday, January 24th. The information technology services provider reported $3.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.77 by $0.34. The firm had revenue of $2.44 billion for the quarter, compared to analysts’ expectations of $2.40 billion. ServiceNow had a return on equity of 11.85% and a net margin of 19.30%. ServiceNow’s revenue for the quarter was up 25.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.88 earnings per share. Equities analysts forecast that ServiceNow, Inc. will post 6.11 earnings per share for the current fiscal year.

About ServiceNow

(Free Report)

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.

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Institutional Ownership by Quarter for ServiceNow (NYSE:NOW)

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