Darwin Wealth Management LLC Lowers Stock Holdings in ServiceNow, Inc. (NYSE:NOW)

Darwin Wealth Management LLC decreased its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 88.7% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 380 shares of the information technology services provider’s stock after selling 2,994 shares during the quarter. Darwin Wealth Management LLC’s holdings in ServiceNow were worth $340,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in NOW. Creekmur Asset Management LLC acquired a new stake in ServiceNow during the first quarter worth about $25,000. Versant Capital Management Inc lifted its position in shares of ServiceNow by 466.7% during the second 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 during the last quarter. EntryPoint Capital LLC grew its position in shares of 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 acquiring an additional 39 shares in the last quarter. Ridgewood Investments LLC bought a new stake in ServiceNow during the second quarter valued at $32,000. Finally, DT Investment Partners LLC lifted its holdings in shares of ServiceNow by 77.3% in the 3rd quarter. DT Investment Partners LLC now owns 39 shares of the information technology services provider’s stock worth $35,000 after purchasing an additional 17 shares during the last quarter. 87.18% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have issued reports on NOW shares. Royal Bank of Canada boosted their target price on shares of ServiceNow from $985.00 to $1,045.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. StockNews.com raised ServiceNow from a “hold” rating to a “buy” rating in a research note on Tuesday, November 12th. Deutsche Bank Aktiengesellschaft increased their price objective on ServiceNow from $875.00 to $900.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. Morgan Stanley downgraded shares of ServiceNow from an “overweight” rating to an “equal weight” rating and upped their price target for the company from $900.00 to $960.00 in a research report on Monday, October 21st. Finally, TD Cowen increased their target price on ServiceNow from $900.00 to $1,000.00 and gave the company a “buy” rating in a report on Monday, October 21st. One analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty-six have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, ServiceNow has an average rating of “Moderate Buy” and an average target price of $986.39.

Insider Buying and Selling at ServiceNow

In other news, General Counsel Russell S. Elmer sold 81 shares of the business’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $1,016.54, for a total value of $82,339.74. Following the completion of the sale, the general counsel now owns 6,843 shares of the company’s stock, valued at approximately $6,956,183.22. The trade was a 1.17 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Jeffrey A. Miller sold 2,879 shares of the stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $1,019.12, for a total value of $2,934,046.48. Following the sale, the director now directly owns 42,920 shares in the company, valued at $43,740,630.40. This represents a 6.29 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 7,373 shares of company stock valued at $7,139,335 in the last three months. 0.25% of the stock is currently owned by company insiders.

ServiceNow Trading Up 1.7 %

NYSE:NOW opened at $1,022.19 on Wednesday. The stock has a market capitalization of $210.57 billion, a PE ratio of 158.97, a price-to-earnings-growth ratio of 5.80 and a beta of 0.98. The business’s 50-day simple moving average is $938.70 and its 200-day simple moving average is $829.46. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.13 and a quick ratio of 1.13. ServiceNow, Inc. has a fifty-two week low of $637.99 and a fifty-two week high of $1,061.66.

ServiceNow (NYSE:NOW) last posted its quarterly earnings data on Wednesday, October 23rd. The information technology services provider reported $3.72 EPS for the quarter, topping analysts’ consensus estimates of $3.46 by $0.26. ServiceNow had a net margin of 12.77% and a return on equity of 16.03%. The company had revenue of $2.80 billion during the quarter, compared to the consensus estimate of $2.75 billion. During the same period in the prior year, the business posted $1.21 EPS. The company’s quarterly revenue was up 22.2% on a year-over-year basis. Sell-side analysts expect that ServiceNow, Inc. will post 7.07 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.