ServiceNow, Inc. (NYSE:NOW) Shares Sold by Graypoint LLC

Graypoint LLC lowered its stake in ServiceNow, Inc. (NYSE:NOW) by 8.9% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 2,279 shares of the information technology services provider’s stock after selling 224 shares during the quarter. Graypoint LLC’s holdings in ServiceNow were worth $2,416,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Truvestments Capital LLC acquired a new stake in shares of ServiceNow in the third quarter valued at about $30,000. DT Investment Partners LLC grew its stake in ServiceNow by 77.3% during the 3rd quarter. DT Investment Partners LLC now owns 39 shares of the information technology services provider’s stock valued at $35,000 after purchasing an additional 17 shares in the last quarter. Oakworth Capital Inc. grew its stake in ServiceNow by 46.7% during the 3rd quarter. Oakworth Capital Inc. now owns 44 shares of the information technology services provider’s stock valued at $39,000 after purchasing an additional 14 shares in the last quarter. Semmax Financial Advisors Inc. acquired a new stake in ServiceNow during the 2nd quarter valued at approximately $39,000. Finally, Dunhill Financial LLC grew its stake in ServiceNow by 70.0% during the 3rd quarter. Dunhill Financial LLC now owns 51 shares of the information technology services provider’s stock valued at $46,000 after purchasing an additional 21 shares in the last quarter. Institutional investors and hedge funds own 87.18% of the company’s stock.

Insider Transactions at ServiceNow

In related news, Director Paul Edward Chamberlain sold 300 shares of ServiceNow stock in a transaction on Friday, November 29th. The stock was sold at an average price of $1,047.95, for a total value of $314,385.00. Following the transaction, the director now directly owns 10,467 shares in the company, valued at $10,968,892.65. The trade was a 2.79 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO William R. Mcdermott sold 12,271 shares of ServiceNow stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $997.67, for a total value of $12,242,408.57. Following the completion of the transaction, the chief executive officer now owns 2,595 shares in the company, valued at $2,588,953.65. The trade was a 82.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 20,629 shares of company stock valued at $20,861,626. Corporate insiders own 0.25% of the company’s stock.

ServiceNow Stock Down 2.4 %

NOW opened at $1,024.26 on Friday. ServiceNow, Inc. has a one year low of $637.99 and a one year high of $1,157.90. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.13 and a current ratio of 1.13. The stock’s fifty day moving average is $1,064.01 and its 200-day moving average is $921.78. The company has a market capitalization of $211.00 billion, a PE ratio of 159.29, a P/E/G ratio of 6.43 and a beta of 0.99.

ServiceNow (NYSE:NOW) last posted its quarterly earnings data 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 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 the consensus estimate of $2.75 billion. During the same quarter in the previous year, the business earned $1.21 EPS. The company’s quarterly revenue was up 22.2% compared to the same quarter last year. On average, equities analysts predict that ServiceNow, Inc. will post 7.07 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. UBS Group raised their price objective on ServiceNow from $900.00 to $1,055.00 and gave the company a “buy” rating in a research note on Tuesday, October 8th. Citigroup lifted their target price on ServiceNow from $1,068.00 to $1,071.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Royal Bank of Canada lifted their target price on ServiceNow from $1,045.00 to $1,210.00 and gave the stock an “outperform” rating in a research report on Friday, January 3rd. Jefferies Financial Group lifted their target price on ServiceNow from $1,100.00 to $1,250.00 and gave the stock a “buy” rating in a research report on Monday, December 2nd. Finally, KeyCorp lowered ServiceNow from an “overweight” rating to a “sector weight” rating in a research report on Friday, December 13th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, twenty-five have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $1,071.39.

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.