Integrated Advisors Network LLC Lowers Stock Holdings in ServiceNow, Inc. (NYSE:NOW)

Integrated Advisors Network LLC cut its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 1.4% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,198 shares of the information technology services provider’s stock after selling 31 shares during the period. Integrated Advisors Network LLC’s holdings in ServiceNow were worth $1,966,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in NOW. Creekmur Asset Management LLC purchased a new position in ServiceNow in the 1st quarter valued at $25,000. Versant Capital Management Inc lifted its stake in shares of ServiceNow by 466.7% in 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 period. DT Investment Partners LLC boosted its holdings in shares of ServiceNow by 77.3% in the third quarter. DT Investment Partners LLC now owns 39 shares of the information technology services provider’s stock valued at $35,000 after acquiring an additional 17 shares in the last quarter. EntryPoint Capital LLC raised its holdings in ServiceNow by 3,900.0% during the first 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 in the last quarter. Finally, Ridgewood Investments LLC acquired a new stake in ServiceNow in the second quarter valued at about $32,000. 87.18% of the stock is owned by institutional investors and hedge funds.

ServiceNow Trading Up 0.8 %

Shares of ServiceNow stock opened at $952.97 on Wednesday. ServiceNow, Inc. has a fifty-two week low of $558.09 and a fifty-two week high of $979.78. The business’s fifty day moving average is $890.11 and its two-hundred day moving average is $800.19. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.16. The firm has a market cap of $196.31 billion, a PE ratio of 148.21, a P/E/G ratio of 5.67 and a beta of 0.99.

ServiceNow (NYSE:NOW) last released its earnings results on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share for the quarter, topping the consensus estimate of $3.46 by $0.26. The firm had revenue of $2.80 billion for the quarter, compared to the consensus estimate of $2.75 billion. ServiceNow had a return on equity of 16.03% and a net margin of 12.77%. The firm’s revenue for the quarter was up 22.2% compared to the same quarter last year. During the same period in the prior year, the business posted $1.21 earnings per share. Analysts anticipate that ServiceNow, Inc. will post 6.78 earnings per share for the current year.

Analyst Ratings Changes

NOW has been the subject of a number of analyst reports. Barclays increased their target price on ServiceNow from $980.00 to $1,000.00 and gave the stock an “overweight” rating in a research note on Thursday, October 24th. BMO Capital Markets increased their price objective on ServiceNow from $860.00 to $1,025.00 and gave the stock an “outperform” rating in a research report on Thursday, October 10th. Guggenheim reissued a “sell” rating and issued a $640.00 target price on shares of ServiceNow in a report on Monday, July 8th. Sanford C. Bernstein upped their price target on shares of ServiceNow from $906.00 to $913.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Finally, Wells Fargo & Company raised their price objective on shares of ServiceNow from $1,025.00 to $1,050.00 and gave the company an “overweight” rating in a research note on Thursday, October 24th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-five have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $970.33.

Insider Buying and Selling

In other ServiceNow news, insider Jacqueline P. Canney sold 353 shares of the stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $924.96, for a total transaction of $326,510.88. Following the transaction, the insider now owns 3,027 shares of the company’s stock, valued at $2,799,853.92. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, insider Jacqueline P. Canney sold 353 shares of the firm’s stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $924.96, for a total value of $326,510.88. Following the transaction, the insider now directly owns 3,027 shares in the company, valued at $2,799,853.92. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Jacqueline P. Canney sold 804 shares of the business’s stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $812.00, for a total value of $652,848.00. Following the sale, the insider now owns 3,027 shares of the company’s stock, valued at $2,457,924. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 5,467 shares of company stock valued at $4,450,447. Insiders own 0.25% of the company’s stock.

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.