ServiceNow, Inc. (NYSE:NOW) Stock Position Lowered by Spouting Rock Asset Management LLC

Spouting Rock Asset Management LLC lessened its position in ServiceNow, Inc. (NYSE:NOW) by 4.9% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,416 shares of the information technology services provider’s stock after selling 73 shares during the period. Spouting Rock Asset Management LLC’s holdings in ServiceNow were worth $1,000,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of NOW. AdvisorNet Financial Inc grew its stake in ServiceNow by 266.7% in the fourth quarter. AdvisorNet Financial Inc now owns 44 shares of the information technology services provider’s stock valued at $31,000 after purchasing an additional 32 shares in the last quarter. Disciplined Equity Management Inc. purchased a new position in ServiceNow in the fourth quarter valued at about $35,000. Sachetta LLC purchased a new position in ServiceNow in the fourth quarter valued at about $35,000. Fortitude Family Office LLC purchased a new position in ServiceNow in the fourth quarter valued at about $41,000. Finally, Oliver Lagore Vanvalin Investment Group grew its stake in ServiceNow by 30.4% in the fourth quarter. Oliver Lagore Vanvalin Investment Group now owns 60 shares of the information technology services provider’s stock valued at $42,000 after purchasing an additional 14 shares in the last quarter. Institutional investors own 87.18% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on NOW shares. Needham & Company LLC restated a “buy” rating and issued a $900.00 target price on shares of ServiceNow in a research note on Tuesday, May 7th. Morgan Stanley upped their price target on ServiceNow from $814.00 to $830.00 and gave the company an “overweight” rating in a report on Thursday, April 25th. StockNews.com lowered ServiceNow from a “buy” rating to a “hold” rating in a research report on Friday, April 26th. UBS Group reduced their price target on ServiceNow from $920.00 to $875.00 and set a “buy” rating on the stock in a research report on Thursday, April 25th. Finally, Robert W. Baird lifted their price target on ServiceNow from $870.00 to $885.00 and gave the company an “outperform” rating in a research note on Tuesday, May 7th. Three analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the stock. According to MarketBeat.com, ServiceNow has an average rating of “Moderate Buy” and an average price target of $814.48.

Insider Activity

In other news, CFO Gina Mastantuono sold 1,800 shares of the company’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $738.88, for a total transaction of $1,329,984.00. Following the transaction, the chief financial officer now owns 13,290 shares in the company, valued at $9,819,715.20. 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 company’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $738.88, for a total value of $1,329,984.00. Following the sale, the chief financial officer now owns 13,290 shares in the company, valued at approximately $9,819,715.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Paul John Smith sold 125 shares of the stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $727.38, for a total transaction of $90,922.50. Following the transaction, the insider now directly owns 3,112 shares of the company’s stock, valued at $2,263,606.56. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 5,530 shares of company stock worth $3,997,012. Company insiders own 0.25% of the company’s stock.

ServiceNow Trading Up 2.7 %

NOW traded up $18.82 during trading on Friday, reaching $728.58. 956,759 shares of the stock traded hands, compared to its average volume of 1,286,938. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.18. The stock has a market capitalization of $149.36 billion, a PE ratio of 77.90, a P/E/G ratio of 4.52 and a beta of 0.96. The stock’s 50-day moving average is $728.81 and its 200 day moving average is $736.28. ServiceNow, Inc. has a 12 month low of $527.24 and a 12 month high of $815.32.

ServiceNow (NYSE:NOW) last announced its quarterly earnings data on Wednesday, April 24th. The information technology services provider reported $1.82 earnings per share for the quarter, beating the consensus estimate of $1.41 by $0.41. ServiceNow had a net margin of 20.34% and a return on equity of 13.59%. The firm had revenue of $2.60 billion for the quarter, compared to analyst estimates of $2.59 billion. Equities analysts anticipate that ServiceNow, Inc. will post 6.5 earnings per share for the current year.

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.