Vest Financial LLC Sells 14 Shares of ServiceNow, Inc. (NYSE:NOW)

Vest Financial LLC lessened its stake in ServiceNow, Inc. (NYSE:NOW) by 4.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 325 shares of the information technology services provider’s stock after selling 14 shares during the period. Vest Financial LLC’s holdings in ServiceNow were worth $256,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the stock. Vanguard Group Inc. boosted its stake in shares of ServiceNow by 1.8% during the first quarter. Vanguard Group Inc. now owns 18,450,570 shares of the information technology services provider’s stock valued at $14,066,715,000 after purchasing an additional 331,797 shares during the period. Norges Bank purchased a new stake in ServiceNow during the 4th quarter valued at $1,648,259,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its holdings in ServiceNow by 18.3% in the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 1,754,027 shares of the information technology services provider’s stock worth $1,239,198,000 after acquiring an additional 271,153 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of ServiceNow by 2.3% in the second quarter. Bank of New York Mellon Corp now owns 1,529,430 shares of the information technology services provider’s stock valued at $1,203,157,000 after acquiring an additional 34,855 shares during the period. Finally, Fisher Asset Management LLC raised its stake in shares of ServiceNow by 7.5% during the fourth quarter. Fisher Asset Management LLC now owns 1,448,448 shares of the information technology services provider’s stock valued at $1,023,315,000 after acquiring an additional 101,485 shares during the last quarter. 87.18% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Wells Fargo & Company boosted their price target on ServiceNow from $920.00 to $935.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. JPMorgan Chase & Co. raised their price target on ServiceNow from $780.00 to $820.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. Stifel Nicolaus upped their price objective on shares of ServiceNow from $820.00 to $900.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. Piper Sandler lifted their target price on shares of ServiceNow from $830.00 to $850.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th. Finally, JMP Securities increased their price target on shares of ServiceNow from $825.00 to $850.00 and gave the stock a “market outperform” rating in a research note on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and twenty-five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $849.62.

ServiceNow Stock Down 0.8 %

Shares of ServiceNow stock opened at $878.95 on Friday. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.17. ServiceNow, Inc. has a twelve month low of $527.24 and a twelve month high of $889.52. The company has a market cap of $181.06 billion, a price-to-earnings ratio of 94.01, a price-to-earnings-growth ratio of 5.25 and a beta of 0.98. The company’s 50 day moving average is $807.22 and its 200 day moving average is $766.50.

ServiceNow (NYSE:NOW) last released its quarterly earnings results on Wednesday, July 24th. The information technology services provider reported $3.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.85 by $0.28. The firm had revenue of $2.63 billion for the quarter, compared to the consensus estimate of $2.61 billion. ServiceNow had a return on equity of 14.52% and a net margin of 11.51%. The company’s revenue for the quarter was up 22.2% on a year-over-year basis. During the same period last year, the business posted $0.77 EPS. Research analysts anticipate that ServiceNow, Inc. will post 6.78 EPS for the current year.

Insiders Place Their Bets

In other news, General Counsel Russell S. Elmer sold 1,937 shares of the stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $779.81, for a total value of $1,510,491.97. Following the transaction, the general counsel now owns 6,736 shares in the company, valued at approximately $5,252,800.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO Gina Mastantuono sold 1,800 shares of the firm’s stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $825.00, for a total value of $1,485,000.00. Following the transaction, the chief financial officer now directly owns 11,490 shares of the company’s stock, valued at approximately $9,479,250. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, General Counsel Russell S. Elmer sold 1,937 shares of the business’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $779.81, for a total value of $1,510,491.97. Following the sale, the general counsel now directly owns 6,736 shares of the company’s stock, valued at approximately $5,252,800.16. The disclosure for this sale can be found here. Over the last three months, insiders have sold 6,914 shares of company stock valued at $5,608,936. Insiders own 0.25% of the company’s stock.

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.