Simon Quick Advisors LLC Cuts Stock Holdings in ServiceNow, Inc. (NYSE:NOW)

Simon Quick Advisors LLC lowered its stake in ServiceNow, Inc. (NYSE:NOW) by 3.7% during the 4th quarter, Holdings Channel reports. The institutional investor owned 1,275 shares of the information technology services provider’s stock after selling 49 shares during the period. Simon Quick Advisors LLC’s holdings in ServiceNow were worth $1,352,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. EverSource Wealth Advisors LLC boosted its stake in shares of ServiceNow by 5.8% during the second quarter. EverSource Wealth Advisors LLC now owns 815 shares of the information technology services provider’s stock valued at $664,000 after purchasing an additional 45 shares during the period. Public Sector Pension Investment Board grew its holdings in ServiceNow by 74.4% in the 2nd quarter. Public Sector Pension Investment Board now owns 7,884 shares of the information technology services provider’s stock worth $6,202,000 after acquiring an additional 3,364 shares during the last quarter. Lombard Odier Asset Management Europe Ltd purchased a new position in shares of ServiceNow in the second quarter valued at about $1,680,000. Resources Management Corp CT ADV raised its stake in shares of ServiceNow by 136.6% during the second quarter. Resources Management Corp CT ADV now owns 1,266 shares of the information technology services provider’s stock valued at $996,000 after acquiring an additional 731 shares during the last quarter. Finally, Farallon Capital Management LLC boosted its holdings in shares of ServiceNow by 14.9% during the second quarter. Farallon Capital Management LLC now owns 454,050 shares of the information technology services provider’s stock worth $357,188,000 after purchasing an additional 58,962 shares during the period. 87.18% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on NOW. Canaccord Genuity Group boosted their price target on ServiceNow from $1,000.00 to $1,200.00 and gave the company a “buy” rating in a report on Friday, December 20th. Scotiabank started coverage on ServiceNow in a report on Tuesday, November 19th. They set a “sector outperform” rating and a $1,230.00 target price for the company. Wells Fargo & Company lifted 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. Truist Financial upped their price objective on shares of ServiceNow from $900.00 to $1,100.00 and gave the stock a “hold” rating in a report on Thursday, December 12th. Finally, JMP Securities lifted their target price on shares of ServiceNow from $1,000.00 to $1,300.00 and gave the company a “market outperform” rating in a research note on Tuesday. One analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-five have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $1,090.72.

Insider Activity

In other ServiceNow news, General Counsel Russell S. Elmer sold 81 shares of the business’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $1,016.54, for a total transaction of $82,339.74. Following the sale, the general counsel now directly owns 6,843 shares in the company, valued at approximately $6,956,183.22. The trade was a 1.17 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jacqueline P. Canney sold 455 shares of the stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $1,058.54, for a total transaction of $481,635.70. Following the completion of the sale, the insider now owns 3,027 shares in the company, valued at $3,204,200.58. This represents a 13.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 20,731 shares of company stock valued at $21,016,751. Insiders own 0.25% of the company’s stock.

ServiceNow Stock Performance

NYSE NOW opened at $1,097.53 on Wednesday. The company has a market cap of $226.09 billion, a P/E ratio of 170.69, a P/E/G ratio of 4.85 and a beta of 0.99. ServiceNow, Inc. has a 1-year low of $637.99 and a 1-year high of $1,157.90. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.13 and a quick ratio of 1.13. The stock has a 50-day moving average of $1,070.37 and a two-hundred day moving average of $935.27.

ServiceNow (NYSE:NOW) last released its quarterly earnings data on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.46 by $0.26. ServiceNow had a net margin of 12.77% and a return on equity of 16.03%. The business had revenue of $2.80 billion during the quarter, compared to analysts’ expectations of $2.75 billion. During the same period in the previous year, the company earned $1.21 EPS. The company’s revenue for the quarter was up 22.2% on a year-over-year basis. As a group, analysts anticipate that ServiceNow, Inc. will post 7.06 EPS for the current year.

ServiceNow Company 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.