Cabot Wealth Management Inc. Has $4.41 Million Stock Holdings in ServiceNow, Inc. (NYSE:NOW)

Cabot Wealth Management Inc. lessened its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 0.4% in the third quarter, according to its most recent filing with the SEC. The firm owned 4,929 shares of the information technology services provider’s stock after selling 19 shares during the period. Cabot Wealth Management Inc.’s holdings in ServiceNow were worth $4,408,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. boosted its position 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 worth $14,066,715,000 after purchasing an additional 331,797 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of ServiceNow by 2.3% during the second quarter. Bank of New York Mellon Corp now owns 1,529,430 shares of the information technology services provider’s stock worth $1,203,157,000 after purchasing an additional 34,855 shares in the last quarter. Swedbank AB boosted its position in shares of ServiceNow by 10.3% during the second quarter. Swedbank AB now owns 1,298,722 shares of the information technology services provider’s stock worth $1,021,666,000 after purchasing an additional 120,983 shares in the last quarter. Ameriprise Financial Inc. boosted its position in shares of ServiceNow by 21.5% during the second quarter. Ameriprise Financial Inc. now owns 954,045 shares of the information technology services provider’s stock worth $750,513,000 after purchasing an additional 168,734 shares in the last quarter. Finally, Clearbridge Investments LLC boosted its position in shares of ServiceNow by 1.8% during the second quarter. Clearbridge Investments LLC now owns 677,942 shares of the information technology services provider’s stock worth $533,316,000 after purchasing an additional 11,979 shares in the last quarter. Institutional investors and hedge funds own 87.18% of the company’s stock.

Analyst Ratings Changes

Several research firms recently commented on NOW. Evercore ISI boosted their price objective on shares of ServiceNow from $850.00 to $950.00 and gave the company an “outperform” rating in a research report on Wednesday, October 9th. Citigroup boosted their price objective on shares of ServiceNow from $909.00 to $911.00 and gave the stock a “buy” rating in a research note on Wednesday, July 17th. BMO Capital Markets upped their price target 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. JPMorgan Chase & Co. lifted their price target on ServiceNow from $780.00 to $820.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. Finally, Stifel Nicolaus lifted their price target on ServiceNow from $820.00 to $900.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. One analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $880.04.

ServiceNow Trading Down 1.8 %

Shares of NOW stock traded down $16.73 on Tuesday, hitting $927.96. The company had a trading volume of 1,080,309 shares, compared to its average volume of 1,275,675. The stock’s 50-day moving average is $864.42 and its two-hundred day moving average is $787.72. ServiceNow, Inc. has a twelve month low of $527.24 and a twelve month high of $949.59. The firm has a market cap of $190.23 billion, a P/E ratio of 101.04, a P/E/G ratio of 5.63 and a beta of 0.99. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.12 and a current ratio of 1.12.

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 the consensus estimate of $2.85 by $0.28. ServiceNow had a return on equity of 14.52% and a net margin of 11.51%. The business had revenue of $2.63 billion during the quarter, compared to analysts’ expectations of $2.61 billion. During the same quarter last year, the firm posted $0.77 earnings per share. The firm’s revenue was up 22.2% on a year-over-year basis. On average, equities research analysts anticipate that ServiceNow, Inc. will post 6.78 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Nicholas Tzitzon sold 1,857 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $829.68, for a total transaction of $1,540,715.76. Following the completion of the sale, the insider now owns 3,649 shares of the company’s stock, valued at $3,027,502.32. 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 available at the SEC website. In other ServiceNow news, General Counsel Russell S. Elmer sold 1,937 shares of the stock in a transaction that occurred on Friday, August 2nd. The stock was 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. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Nicholas Tzitzon sold 1,857 shares of the stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $829.68, for a total value of $1,540,715.76. Following the completion of the transaction, the insider now owns 3,649 shares in the company, valued at approximately $3,027,502.32. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 6,914 shares of company stock valued at $5,608,936 over the last 90 days. Company 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.