Means Investment CO. Inc. Decreases Holdings in ServiceNow, Inc. (NYSE:NOW)

Means Investment CO. Inc. decreased its holdings in ServiceNow, Inc. (NYSE:NOW) by 0.5% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,542 shares of the information technology services provider’s stock after selling 12 shares during the period. Means Investment CO. Inc.’s holdings in ServiceNow were worth $2,273,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Creekmur Asset Management LLC bought a new position in shares of ServiceNow during the first quarter valued at about $25,000. Versant Capital Management Inc grew its position in ServiceNow by 466.7% during the 2nd quarter. Versant Capital Management Inc now owns 34 shares of the information technology services provider’s stock worth $27,000 after acquiring an additional 28 shares during the last quarter. EntryPoint Capital LLC increased its stake in ServiceNow by 3,900.0% in the 1st quarter. EntryPoint Capital LLC now owns 40 shares of the information technology services provider’s stock worth $30,000 after purchasing an additional 39 shares during the period. Ridgewood Investments LLC bought a new stake in ServiceNow in the second quarter valued at approximately $32,000. Finally, Semmax Financial Advisors Inc. purchased a new stake in shares of ServiceNow during the second quarter valued at approximately $39,000. Institutional investors own 87.18% of the company’s stock.

Insider Activity at ServiceNow

In other ServiceNow news, insider Jacqueline P. Canney sold 94 shares of ServiceNow stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $825.92, for a total value of $77,636.48. Following the completion of the transaction, the insider now directly owns 4,019 shares of the company’s stock, valued at approximately $3,319,372.48. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related 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 sale, the general counsel now directly owns 6,736 shares of the company’s stock, valued at $5,252,800.16. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Jacqueline P. Canney sold 94 shares of the business’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $825.92, for a total value of $77,636.48. Following the completion of the transaction, the insider now directly owns 4,019 shares of the company’s stock, valued at approximately $3,319,372.48. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 7,267 shares of company stock valued at $5,935,447. 0.25% of the stock is owned by insiders.

Analyst Ratings Changes

Several brokerages recently commented on NOW. Deutsche Bank Aktiengesellschaft lifted their target price on shares of ServiceNow from $875.00 to $900.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. BMO Capital Markets upped their price objective on shares of ServiceNow from $860.00 to $1,025.00 and gave the company an “outperform” rating in a research note on Thursday, October 10th. Royal Bank of Canada raised their target price on ServiceNow from $850.00 to $880.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Truist Financial upped their price target on ServiceNow from $750.00 to $780.00 and gave the company a “hold” rating in a research report on Thursday, July 25th. Finally, JPMorgan Chase & Co. lifted their price objective on ServiceNow from $780.00 to $820.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. One equities research 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 stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $914.15.

ServiceNow Stock Performance

ServiceNow stock opened at $921.75 on Friday. The stock’s 50 day moving average is $874.61 and its 200 day moving average is $791.98. The company has a market capitalization of $188.96 billion, a P/E ratio of 98.58, a PEG ratio of 5.63 and a beta of 0.99. ServiceNow, Inc. has a twelve month low of $527.24 and a twelve month high of $949.59. 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 (NYSE:NOW) last released its earnings results on Wednesday, July 24th. The information technology services provider reported $3.13 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 analysts’ expectations of $2.61 billion. ServiceNow had a return on equity of 14.52% and a net margin of 11.51%. The company’s quarterly revenue was up 22.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.77 earnings per share. On average, equities research analysts predict that ServiceNow, Inc. will post 6.78 earnings per share for the current fiscal year.

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.