ServiceNow, Inc. (NYSE:NOW) Stake Reduced by Lmcg Investments LLC

Lmcg Investments LLC trimmed its stake in ServiceNow, Inc. (NYSE:NOW) by 14.9% during the fourth quarter, HoldingsChannel.com reports. The fund owned 13,908 shares of the information technology services provider’s stock after selling 2,429 shares during the period. ServiceNow makes up approximately 0.9% of Lmcg Investments LLC’s holdings, making the stock its 27th biggest position. Lmcg Investments LLC’s holdings in ServiceNow were worth $14,744,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also modified their holdings of the stock. Truvestments Capital LLC acquired a new position in ServiceNow in the 3rd quarter worth approximately $30,000. DT Investment Partners LLC increased its stake 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 worth $35,000 after acquiring an additional 17 shares during the last quarter. Semmax Financial Advisors Inc. purchased a new stake in shares of ServiceNow during the second quarter worth $39,000. Oakworth Capital Inc. boosted its position in ServiceNow by 46.7% during the third quarter. Oakworth Capital Inc. now owns 44 shares of the information technology services provider’s stock valued at $39,000 after purchasing an additional 14 shares during the last quarter. Finally, Dunhill Financial LLC grew its stake in ServiceNow by 70.0% in the third quarter. Dunhill Financial LLC now owns 51 shares of the information technology services provider’s stock valued at $46,000 after purchasing an additional 21 shares in the last quarter. 87.18% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider Jacqueline P. Canney sold 76 shares of the stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $1,010.94, for a total transaction of $76,831.44. Following the sale, the insider now directly owns 3,027 shares in the company, valued at $3,060,115.38. This represents a 2.45 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jeffrey A. Miller sold 2,879 shares of ServiceNow stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $1,019.12, for a total value of $2,934,046.48. Following the completion of the transaction, the director now owns 42,920 shares of the company’s stock, valued at approximately $43,740,630.40. The trade was a 6.29 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 20,731 shares of company stock worth $21,016,751. Corporate insiders own 0.25% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Wells Fargo & Company boosted their price target on ServiceNow from $1,150.00 to $1,250.00 and gave the company an “overweight” rating in a research note on Thursday, December 5th. Royal Bank of Canada raised their price target on shares of ServiceNow from $1,045.00 to $1,210.00 and gave the company an “outperform” rating in a report on Friday, January 3rd. Robert W. Baird upped their price objective on shares of ServiceNow from $900.00 to $975.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. StockNews.com upgraded ServiceNow from a “hold” rating to a “buy” rating in a report on Tuesday, November 12th. Finally, Jefferies Financial Group upped their price target on ServiceNow from $1,100.00 to $1,250.00 and gave the stock a “buy” rating in a research note on Monday, December 2nd. One research analyst has rated the stock with a sell rating, three have given a hold rating, twenty-five have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $1,080.38.

ServiceNow Stock Performance

NYSE:NOW opened at $1,072.02 on Tuesday. 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 50-day moving average price of $1,069.67 and a 200 day moving average price of $933.26. The firm has a market capitalization of $220.84 billion, a PE ratio of 166.72, a price-to-earnings-growth ratio of 4.85 and a beta of 0.99. ServiceNow, Inc. has a 12-month low of $637.99 and a 12-month high of $1,157.90.

ServiceNow (NYSE:NOW) last posted its earnings results on Wednesday, October 23rd. The information technology services provider reported $3.72 EPS for the quarter, topping the consensus estimate of $3.46 by $0.26. ServiceNow had a return on equity of 16.03% and a net margin of 12.77%. The business had revenue of $2.80 billion during the quarter, compared to the consensus estimate of $2.75 billion. During the same quarter last year, the company earned $1.21 EPS. ServiceNow’s revenue was up 22.2% on a year-over-year basis. Research analysts anticipate that ServiceNow, Inc. will post 7.06 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.