ServiceNow, Inc. (NYSE:NOW) Shares Sold by Beacon Investment Advisory Services Inc.

Beacon Investment Advisory Services Inc. trimmed its position in shares of ServiceNow, Inc. (NYSE:NOW) by 5.3% during the fourth quarter, HoldingsChannel reports. The fund owned 3,047 shares of the information technology services provider’s stock after selling 170 shares during the quarter. Beacon Investment Advisory Services Inc.’s holdings in ServiceNow were worth $3,230,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Truvestments Capital LLC purchased a new stake in ServiceNow in the 3rd quarter valued at approximately $30,000. DT Investment Partners LLC boosted its stake in shares of ServiceNow by 77.3% in the third quarter. DT Investment Partners LLC now owns 39 shares of the information technology services provider’s stock valued at $35,000 after buying an additional 17 shares in the last quarter. Semmax Financial Advisors Inc. purchased a new stake in shares of ServiceNow in the second quarter valued at approximately $39,000. Oakworth Capital Inc. raised its position in ServiceNow by 46.7% in the third quarter. Oakworth Capital Inc. now owns 44 shares of the information technology services provider’s stock worth $39,000 after acquiring an additional 14 shares in the last quarter. Finally, Dunhill Financial LLC lifted its holdings in ServiceNow by 70.0% in the third quarter. Dunhill Financial LLC now owns 51 shares of the information technology services provider’s stock valued at $46,000 after acquiring an additional 21 shares during the period. 87.18% of the stock is owned by hedge funds and other institutional investors.

ServiceNow Stock Performance

NYSE NOW opened at $1,125.39 on Thursday. The business’s 50-day moving average price is $1,072.95 and its 200 day moving average price is $938.64. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.16. ServiceNow, Inc. has a twelve month low of $637.99 and a twelve month high of $1,157.90. The company has a market capitalization of $231.83 billion, a PE ratio of 175.02, a price-to-earnings-growth ratio of 4.98 and a beta of 0.99.

ServiceNow (NYSE:NOW) last announced its quarterly earnings data on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share 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 for the quarter, compared to analyst estimates of $2.75 billion. During the same period in the prior year, the firm posted $1.21 EPS. The company’s revenue was up 22.2% on a year-over-year basis. On average, research analysts predict that ServiceNow, Inc. will post 7.04 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on NOW shares. Citigroup upped their price target on shares of ServiceNow from $1,068.00 to $1,071.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. Raymond James began coverage on shares of ServiceNow in a report on Tuesday, December 24th. They issued an “outperform” rating and a $1,200.00 target price for the company. JMP Securities boosted their price target on ServiceNow from $1,000.00 to $1,300.00 and gave the stock a “market outperform” rating in a research note on Tuesday. Guggenheim restated a “sell” rating and issued a $716.00 price target on shares of ServiceNow in a report on Wednesday. Finally, Jefferies Financial Group lifted their price objective on ServiceNow from $1,100.00 to $1,250.00 and gave the stock a “buy” rating in a report on Monday, December 2nd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-five have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, ServiceNow has an average rating of “Moderate Buy” and a consensus target price of $1,093.34.

Insider Buying and Selling

In related news, CEO William R. Mcdermott sold 12,271 shares of the 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 sale, the chief executive officer now owns 2,595 shares of the company’s stock, valued at approximately $2,588,953.65. This represents a 82.54 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jeffrey A. Miller sold 2,879 shares of ServiceNow stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $1,019.12, for a total transaction of $2,934,046.48. Following the transaction, the director now directly owns 42,920 shares in the company, valued at approximately $43,740,630.40. This trade represents a 6.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 20,731 shares of company stock valued at $21,016,751. Insiders own 0.25% of the company’s stock.

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.