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

Intellectus Partners LLC cut its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 1.3% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 2,542 shares of the information technology services provider’s stock after selling 33 shares during the period. Intellectus Partners LLC’s holdings in ServiceNow were worth $1,796,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. AdvisorNet Financial Inc increased its holdings in ServiceNow by 266.7% during the 4th quarter. AdvisorNet Financial Inc now owns 44 shares of the information technology services provider’s stock worth $31,000 after purchasing an additional 32 shares during the last quarter. PFG Private Wealth Management LLC purchased a new stake in ServiceNow during the 3rd quarter worth approximately $28,000. Disciplined Equity Management Inc. purchased a new stake in ServiceNow during the 4th quarter worth approximately $35,000. Fortitude Family Office LLC purchased a new stake in ServiceNow during the 4th quarter worth approximately $41,000. Finally, Oliver Lagore Vanvalin Investment Group increased its holdings in ServiceNow by 30.4% during the 4th quarter. Oliver Lagore Vanvalin Investment Group now owns 60 shares of the information technology services provider’s stock worth $42,000 after purchasing an additional 14 shares during the last quarter. 87.18% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on NOW shares. William Blair restated an “outperform” rating on shares of ServiceNow in a report on Thursday. Robert W. Baird boosted their price target on ServiceNow from $780.00 to $870.00 and gave the company an “outperform” rating in a report on Thursday, January 25th. Guggenheim reiterated a “neutral” rating on shares of ServiceNow in a report on Monday, April 15th. Morgan Stanley boosted their price target on ServiceNow from $814.00 to $830.00 and gave the company an “overweight” rating in a report on Thursday. Finally, Barclays boosted their price target on ServiceNow from $765.00 to $870.00 and gave the company an “overweight” rating in a report on Tuesday, January 23rd. Four investment analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $792.00.

ServiceNow Price Performance

Shares of ServiceNow stock traded up $7.30 during trading on Friday, hitting $723.55. The stock had a trading volume of 1,445,884 shares, compared to its average volume of 1,087,368. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.05 and a quick ratio of 1.06. The firm has a market cap of $148.60 billion, a P/E ratio of 77.39, a PEG ratio of 4.57 and a beta of 0.97. The business has a fifty day moving average of $759.21 and a two-hundred day moving average of $708.95. ServiceNow, Inc. has a fifty-two week low of $427.68 and a fifty-two week high of $815.32.

ServiceNow (NYSE:NOW) last announced its quarterly earnings data on Wednesday, January 24th. The information technology services provider reported $3.11 earnings per share for the quarter, beating the consensus estimate of $2.77 by $0.34. The business had revenue of $2.44 billion during the quarter, compared to analyst estimates of $2.40 billion. ServiceNow had a return on equity of 13.59% and a net margin of 20.34%. The company’s revenue was up 25.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.88 earnings per share. On average, sell-side analysts expect that ServiceNow, Inc. will post 6.16 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Paul John Smith sold 1,180 shares of the company’s stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $767.12, for a total value of $905,201.60. Following the completion of the sale, the insider now owns 1,392 shares in the company, valued at $1,067,831.04. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, insider Paul John Smith sold 1,180 shares of the business’s stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $767.12, for a total transaction of $905,201.60. Following the sale, the insider now directly owns 1,392 shares of the company’s stock, valued at $1,067,831.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO William R. Mcdermott sold 5,030 shares of the business’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $753.08, for a total value of $3,787,992.40. Following the sale, the chief executive officer now directly owns 17,177 shares in the company, valued at $12,935,655.16. The disclosure for this sale can be found here. Insiders sold a total of 13,164 shares of company stock worth $9,940,303 over the last 90 days. 0.25% of the stock is currently owned by company insiders.

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.