ServiceNow, Inc. (NYSE:NOW) Shares Sold by DNB Asset Management AS

DNB Asset Management AS lowered its position in shares of ServiceNow, Inc. (NYSE:NOW – Get Rating) by 0.1% in the fourth quarter, Holdings Channel.com reports. The fund owned 185,952 shares of the information technology services provider’s stock after selling 263 shares during the quarter. DNB Asset Management AS’s holdings in ServiceNow were worth $72,200,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. High Net Worth Advisory Group LLC acquired a new position in shares of ServiceNow during the first quarter valued at approximately $29,000. Vigilant Capital Management LLC grew its position in shares of ServiceNow by 300.0% in the third quarter. Vigilant Capital Management LLC now owns 96 shares of the information technology services provider’s stock valued at $36,000 after purchasing an additional 72 shares in the last quarter. Motco purchased a new stake in shares of ServiceNow in the third quarter valued at approximately $37,000. SOA Wealth Advisors LLC. grew its position in shares of ServiceNow by 10,000.0% in the fourth quarter. SOA Wealth Advisors LLC. now owns 101 shares of the information technology services provider’s stock valued at $39,000 after purchasing an additional 100 shares in the last quarter. Finally, Mach 1 Financial Group LLC purchased a new stake in shares of ServiceNow in the third quarter valued at approximately $43,000. Institutional investors and hedge funds own 86.31% of the company’s stock.

Insider Activity

In other news, Director Paul Edward Chamberlain sold 90 shares of the stock in a transaction on Wednesday, February 8th. The stock was sold at an average price of $464.59, for a total value of $41,813.10. Following the sale, the director now directly owns 10,461 shares in the company, valued at $4,860,075.99. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other ServiceNow news, insider Christopher Bedi sold 377 shares of the firm’s stock in a transaction on Wednesday, February 8th. The stock was sold at an average price of $464.59, for a total value of $175,150.43. Following the sale, the insider now directly owns 16,990 shares in the company, valued at $7,893,384.10. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Paul Edward Chamberlain sold 90 shares of the firm’s stock in a transaction on Wednesday, February 8th. The shares were sold at an average price of $464.59, for a total value of $41,813.10. Following the completion of the sale, the director now owns 10,461 shares in the company, valued at $4,860,075.99. The disclosure for this sale can be found here. Over the last three months, insiders have sold 63,016 shares of company stock worth $28,805,543. Corporate insiders own 0.28% of the company’s stock.

ServiceNow Stock Down 0.3 %

Shares of NYSE NOW traded down $1.39 during mid-day trading on Friday, hitting $441.00. The company had a trading volume of 2,917,494 shares, compared to its average volume of 1,245,662. The company has a market capitalization of $89.52 billion, a PE ratio of 275.63, a price-to-earnings-growth ratio of 5.93 and a beta of 1.03. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.11 and a quick ratio of 1.11. ServiceNow, Inc. has a 1-year low of $337.00 and a 1-year high of $601.62. The business’s 50-day simple moving average is $439.00 and its 200 day simple moving average is $412.18.

ServiceNow (NYSE:NOW – Get Rating) last announced its quarterly earnings data on Wednesday, January 25th. The information technology services provider reported $0.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.28. The business had revenue of $1.94 billion for the quarter, compared to analysts’ expectations of $1.93 billion. ServiceNow had a return on equity of 9.37% and a net margin of 4.49%. On average, analysts predict that ServiceNow, Inc. will post 2.65 earnings per share for the current year.

Wall Street Analysts Forecast Growth

NOW has been the subject of a number of analyst reports. StockNews.com initiated coverage on ServiceNow in a research report on Thursday. They issued a “buy” rating for the company. Credit Suisse Group dropped their price target on ServiceNow from $600.00 to $575.00 and set an “outperform” rating for the company in a research report on Friday, January 27th. BMO Capital Markets upped their price target on ServiceNow from $475.00 to $500.00 and gave the company an “outperform” rating in a research report on Thursday, January 26th. Truist Financial lowered ServiceNow from a “buy” rating to a “hold” rating and dropped their price target for the company from $525.00 to $420.00 in a research report on Monday, January 9th. Finally, Morgan Stanley increased their price objective on ServiceNow from $520.00 to $612.00 and gave the stock an “overweight” rating in a research report on Monday, December 19th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and twenty-six have assigned a buy rating to the company. According to data from MarketBeat, ServiceNow currently has a consensus rating of “Moderate Buy” and an average target price of $517.47.

ServiceNow Company Profile

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ServiceNow, Inc engages in the provision of enterprise cloud computing solutions. The firm delivers digital workflows on a single enterprise cloud platform called the Now Platform. Its product portfolio is focused on providing Information Technology, Employee and Customer workflows. The company was founded by Frederic B.