Jacobs & Co. CA Sells 330 Shares of ServiceNow, Inc. (NYSE:NOW)

Jacobs & Co. CA lessened its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 3.7% in the 4th quarter, HoldingsChannel.com reports. The fund owned 8,686 shares of the information technology services provider’s stock after selling 330 shares during the period. Jacobs & Co. CA’s holdings in ServiceNow were worth $9,208,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Highline Wealth Partners LLC increased its holdings in ServiceNow by 7.8% during the fourth quarter. Highline Wealth Partners LLC now owns 591 shares of the information technology services provider’s stock valued at $627,000 after buying an additional 43 shares during the period. Franklin Street Advisors Inc. NC purchased a new stake in shares of ServiceNow during the fourth quarter valued at $200,000. Hilltop National Bank grew its holdings in shares of ServiceNow by 22.8% during the fourth quarter. Hilltop National Bank now owns 420 shares of the information technology services provider’s stock valued at $445,000 after buying an additional 78 shares during the last quarter. ORG Partners LLC lifted its position in ServiceNow by 15.2% during the fourth quarter. ORG Partners LLC now owns 159 shares of the information technology services provider’s stock valued at $169,000 after purchasing an additional 21 shares during the period. Finally, Fortitude Family Office LLC lifted its position in ServiceNow by 18.8% during the fourth quarter. Fortitude Family Office LLC now owns 95 shares of the information technology services provider’s stock valued at $101,000 after purchasing an additional 15 shares during the period. Institutional investors own 87.18% of the company’s stock.

ServiceNow Stock Performance

Shares of ServiceNow stock traded down $18.55 during trading hours on Friday, reaching $1,030.53. The company’s stock had a trading volume of 922,492 shares, compared to its average volume of 1,038,292. The company’s 50 day simple moving average is $1,062.40 and its 200 day simple moving average is $919.80. 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, Inc. has a one year low of $637.99 and a one year high of $1,157.90. The stock has a market cap of $212.29 billion, a P/E ratio of 160.27, a price-to-earnings-growth ratio of 6.43 and a beta of 0.99.

ServiceNow (NYSE:NOW) last posted its quarterly earnings results on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share (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 the consensus estimate of $2.75 billion. During the same period last year, the firm posted $1.21 EPS. The company’s revenue for the quarter was up 22.2% on a year-over-year basis. As a group, analysts expect that ServiceNow, Inc. will post 7.07 EPS for the current fiscal year.

Insider Buying and Selling at ServiceNow

In other news, insider Jacqueline P. Canney sold 353 shares of the firm’s stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $924.96, for a total transaction of $326,510.88. Following the completion of the sale, the insider now directly owns 3,027 shares of the company’s stock, valued at $2,799,853.92. This trade represents a 10.44 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Paul Edward Chamberlain sold 300 shares of the stock in a transaction on Friday, November 29th. The shares were sold at an average price of $1,047.95, for a total value of $314,385.00. Following the completion of the sale, the director now owns 10,467 shares of the company’s stock, valued at $10,968,892.65. The trade was a 2.79 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 20,629 shares of company stock valued at $20,861,626. 0.25% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts recently issued reports on NOW shares. JMP Securities boosted their target price on shares of ServiceNow from $850.00 to $1,000.00 and gave the company a “market outperform” rating in a research report on Thursday, October 17th. Royal Bank of Canada upped their price objective on shares of ServiceNow from $1,045.00 to $1,210.00 and gave the stock an “outperform” rating in a research report on Friday, January 3rd. Piper Sandler upped their price objective on shares of ServiceNow from $1,000.00 to $1,200.00 and gave the stock an “overweight” rating in a research report on Monday. BMO Capital Markets upped their price objective on shares of ServiceNow from $860.00 to $1,025.00 and gave the company an “outperform” rating in a research note on Thursday, October 10th. Finally, Truist Financial upped their price objective on shares of ServiceNow from $900.00 to $1,100.00 and gave the company a “hold” rating in a research note on Thursday, December 12th. One analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-five have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, ServiceNow 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.