ServiceNow, Inc. (NYSE:NOW) Shares Sold by Richwood Investment Advisors LLC

Richwood Investment Advisors LLC lowered its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 1.3% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 5,342 shares of the information technology services provider’s stock after selling 72 shares during the period. ServiceNow comprises about 4.0% of Richwood Investment Advisors LLC’s portfolio, making the stock its 5th biggest holding. Richwood Investment Advisors LLC’s holdings in ServiceNow were worth $4,778,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Creekmur Asset Management LLC acquired a new position in ServiceNow in the 1st quarter worth about $25,000. Versant Capital Management Inc increased its holdings in 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 purchasing an additional 28 shares in the last quarter. EntryPoint Capital LLC increased its holdings 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 in the last quarter. Ridgewood Investments LLC acquired a new stake in shares of ServiceNow in the second quarter valued at about $32,000. Finally, Semmax Financial Advisors Inc. acquired a new stake in shares of ServiceNow in the second quarter valued at about $39,000. Institutional investors and hedge funds own 87.18% of the company’s stock.

Insider Buying and Selling at ServiceNow

In other news, CFO Gina Mastantuono sold 1,800 shares of the firm’s stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $825.00, for a total value of $1,485,000.00. Following the transaction, the chief financial officer now owns 11,490 shares in the company, valued at approximately $9,479,250. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other ServiceNow news, insider Nicholas Tzitzon sold 1,857 shares of the business’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $829.68, for a total transaction of $1,540,715.76. Following the transaction, the insider now directly owns 3,649 shares of the company’s stock, valued at approximately $3,027,502.32. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Gina Mastantuono sold 1,800 shares of the firm’s stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $825.00, for a total transaction of $1,485,000.00. Following the completion of the sale, the chief financial officer now directly owns 11,490 shares of the company’s stock, valued at approximately $9,479,250. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 6,914 shares of company stock worth $5,608,936 over the last ninety days. Insiders own 0.25% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on NOW. Citigroup increased their price target on ServiceNow from $909.00 to $911.00 and gave the company a “buy” rating in a research note on Wednesday, July 17th. Royal Bank of Canada increased their price target on ServiceNow from $850.00 to $880.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. KeyCorp decreased their price target on ServiceNow from $950.00 to $920.00 and set an “overweight” rating for the company in a research note on Tuesday, July 2nd. Guggenheim restated a “sell” rating and set a $640.00 target price on shares of ServiceNow in a research report on Monday, July 8th. Finally, Deutsche Bank Aktiengesellschaft upped their target price on ServiceNow from $875.00 to $900.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. One research analyst has rated the stock with a sell rating, two have given a hold rating and twenty-five have given a buy rating to the company. According to data from MarketBeat.com, ServiceNow presently has an average rating of “Moderate Buy” and an average target price of $880.04.

ServiceNow Price Performance

NOW traded down $12.35 on Tuesday, reaching $932.34. The company had a trading volume of 245,261 shares, compared to its average volume of 1,271,479. The business has a 50 day simple moving average of $864.42 and a 200 day simple moving average of $787.72. The company has a market cap of $191.13 billion, a price-to-earnings 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, Inc. has a 52-week low of $527.24 and a 52-week high of $949.59.

ServiceNow (NYSE:NOW) last issued its quarterly earnings results on Wednesday, July 24th. The information technology services provider reported $3.13 EPS for the quarter, beating analysts’ consensus estimates of $2.85 by $0.28. ServiceNow had a net margin of 11.51% and a return on equity of 14.52%. The business had revenue of $2.63 billion for the quarter, compared to analysts’ expectations of $2.61 billion. During the same period last year, the business earned $0.77 earnings per share. The business’s quarterly revenue was up 22.2% on a year-over-year basis. As a group, sell-side analysts anticipate that ServiceNow, Inc. will post 6.78 EPS 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.