Crossmark Global Holdings Inc. Has $8.20 Million Stake in ServiceNow, Inc. (NYSE:NOW)

Crossmark Global Holdings Inc. lessened its holdings in ServiceNow, Inc. (NYSE:NOW) by 2.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 10,422 shares of the information technology services provider’s stock after selling 216 shares during the period. Crossmark Global Holdings Inc.’s holdings in ServiceNow were worth $8,199,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of NOW. M&G Plc acquired a new position in shares of ServiceNow in the first quarter valued at $11,030,000. Smithfield Trust Co increased its stake in shares of ServiceNow by 36.4% in the 4th quarter. Smithfield Trust Co now owns 981 shares of the information technology services provider’s stock valued at $691,000 after acquiring an additional 262 shares during the last quarter. New Mexico Educational Retirement Board boosted its position in shares of ServiceNow by 9.4% during the first quarter. New Mexico Educational Retirement Board now owns 11,650 shares of the information technology services provider’s stock worth $8,882,000 after purchasing an additional 1,000 shares in the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its stake in ServiceNow by 375.6% in the first quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 1,365 shares of the information technology services provider’s stock valued at $1,041,000 after acquiring an additional 1,078 shares during the period. Finally, Summa Corp. bought a new stake in ServiceNow during the 4th quarter worth approximately $381,000. 87.18% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at ServiceNow

In related news, insider Christopher Bedi sold 215 shares of the business’s stock in a transaction dated Wednesday, June 5th. The shares were sold at an average price of $700.00, for a total value of $150,500.00. Following the transaction, the insider now directly owns 15,892 shares of the company’s stock, valued at approximately $11,124,400. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, General Counsel Russell S. Elmer sold 1,937 shares of the stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $779.81, for a total transaction of $1,510,491.97. Following the completion of the transaction, the general counsel now owns 6,736 shares in the company, valued at approximately $5,252,800.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Christopher Bedi sold 215 shares of the business’s stock in a transaction dated Wednesday, June 5th. The shares were sold at an average price of $700.00, for a total value of $150,500.00. Following the completion of the sale, the insider now owns 15,892 shares in the company, valued at $11,124,400. The disclosure for this sale can be found here. Insiders have sold 7,129 shares of company stock worth $5,759,436 in the last 90 days. Insiders own 0.25% of the company’s stock.

ServiceNow Stock Up 2.9 %

Shares of ServiceNow stock traded up $23.73 on Friday, hitting $855.00. The company had a trading volume of 1,916,043 shares, compared to its average volume of 1,294,300. The stock has a market capitalization of $175.28 billion, a price-to-earnings ratio of 91.44, a P/E/G ratio of 4.82 and a beta of 0.99. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.12 and a current ratio of 1.12. ServiceNow, Inc. has a 1 year low of $527.24 and a 1 year high of $857.25. The stock has a 50 day moving average of $789.70 and a 200-day moving average of $760.16.

ServiceNow (NYSE:NOW) last posted its earnings results on Wednesday, July 24th. The information technology services provider reported $3.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.85 by $0.28. ServiceNow had a net margin of 11.51% and a return on equity of 14.52%. The firm had revenue of $2.63 billion during the quarter, compared to analyst estimates of $2.61 billion. During the same quarter in the prior year, the business posted $0.77 EPS. The business’s revenue was up 22.2% compared to the same quarter last year. As a group, sell-side analysts forecast that ServiceNow, Inc. will post 6.84 earnings per share for the current year.

Analyst Upgrades and Downgrades

NOW has been the topic of several analyst reports. William Blair reissued an “outperform” rating on shares of ServiceNow in a research report on Tuesday, May 7th. BMO Capital Markets upped their price objective on shares of ServiceNow from $830.00 to $860.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Needham & Company LLC reaffirmed a “buy” rating and issued a $900.00 price objective on shares of ServiceNow in a research note on Thursday, July 25th. Guggenheim reiterated a “sell” rating and issued a $640.00 price target on shares of ServiceNow in a research note on Monday, July 8th. Finally, Wells Fargo & Company raised their price target on shares of ServiceNow from $920.00 to $935.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-five have issued a buy rating to the stock. According to MarketBeat, ServiceNow presently has an average rating of “Moderate Buy” and a consensus price target of $849.62.

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.