New World Advisors LLC Sells 40 Shares of ServiceNow, Inc. (NYSE:NOW)

New World Advisors LLC lowered its position in ServiceNow, Inc. (NYSE:NOW) by 4.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 770 shares of the information technology services provider’s stock after selling 40 shares during the quarter. ServiceNow makes up about 0.2% of New World Advisors LLC’s portfolio, making the stock its 19th biggest position. New World Advisors LLC’s holdings in ServiceNow were worth $689,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Creekmur Asset Management LLC purchased a new stake in shares of ServiceNow during the first quarter valued at about $25,000. Versant Capital Management Inc raised its stake in ServiceNow by 466.7% in the second quarter. Versant Capital Management Inc now owns 34 shares of the information technology services provider’s stock valued at $27,000 after buying an additional 28 shares during the last quarter. DT Investment Partners LLC boosted its holdings in 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 in the last quarter. EntryPoint Capital LLC increased its holdings in shares of ServiceNow by 3,900.0% during the first quarter. EntryPoint Capital LLC now owns 40 shares of the information technology services provider’s stock valued at $30,000 after acquiring an additional 39 shares in the last quarter. Finally, Ridgewood Investments LLC acquired a new stake in ServiceNow in the 2nd quarter worth approximately $32,000. 87.18% of the stock is currently owned by hedge funds and other institutional investors.

ServiceNow Price Performance

ServiceNow stock traded down $5.73 during midday trading on Friday, reaching $950.85. The company had a trading volume of 1,494,753 shares, compared to its average volume of 1,286,547. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.12 and a quick ratio of 1.12. The firm’s fifty day simple moving average is $885.56 and its 200-day simple moving average is $797.46. The company has a market capitalization of $195.88 billion, a P/E ratio of 171.94, a P/E/G ratio of 5.04 and a beta of 0.99. ServiceNow, Inc. has a 12-month low of $548.44 and a 12-month high of $979.78.

ServiceNow (NYSE:NOW) last issued its earnings results on Wednesday, October 23rd. The information technology services provider reported $3.72 EPS for the quarter, beating analysts’ consensus estimates of $3.46 by $0.26. The business had revenue of $2.80 billion during the quarter, compared to analysts’ expectations of $2.75 billion. ServiceNow had a net margin of 11.51% and a return on equity of 14.52%. The company’s quarterly revenue was up 22.2% compared to the same quarter last year. During the same period in the prior year, the business earned $1.21 earnings per share. As a group, equities analysts anticipate that ServiceNow, Inc. will post 7.41 EPS for the current year.

Insiders Place Their Bets

In other ServiceNow news, insider Jacqueline P. Canney sold 353 shares of the business’s stock in a transaction on Wednesday, October 16th. The stock was 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 approximately $2,799,853.92. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other 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 value of $326,510.88. Following the completion of the sale, the insider now owns 3,027 shares of the company’s stock, valued at $2,799,853.92. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Paul John Smith sold 187 shares of ServiceNow stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $795.58, for a total transaction of $148,773.46. Following the sale, the insider now directly owns 3,779 shares in the company, valued at approximately $3,006,496.82. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 5,467 shares of company stock valued at $4,450,447 in the last ninety days. 0.25% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Oppenheimer raised their price target on shares of ServiceNow from $825.00 to $1,020.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Robert W. Baird raised their target price on ServiceNow from $900.00 to $975.00 and gave the stock an “outperform” rating in a research note on Thursday. Mizuho boosted their price target on ServiceNow from $850.00 to $980.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. UBS Group raised their price objective on ServiceNow from $900.00 to $1,055.00 and gave the stock a “buy” rating in a research note on Tuesday, October 8th. Finally, JMP Securities upped their target price on ServiceNow from $850.00 to $1,000.00 and gave the company a “market outperform” rating in a research report on Thursday, October 17th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and twenty-five have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $970.33.

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.