Corundum Group Inc. Sells 22 Shares of ServiceNow, Inc. (NYSE:NOW)

Corundum Group Inc. lowered its position in ServiceNow, Inc. (NYSE:NOW) by 5.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 365 shares of the information technology services provider’s stock after selling 22 shares during the period. Corundum Group Inc.’s holdings in ServiceNow were worth $387,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in NOW. Truvestments Capital LLC bought a new stake in shares of ServiceNow in the third quarter worth about $30,000. DT Investment Partners LLC increased its stake in ServiceNow by 77.3% during 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 in the last quarter. Semmax Financial Advisors Inc. bought a new stake in ServiceNow during the 2nd quarter worth approximately $39,000. Oakworth Capital Inc. lifted its stake in ServiceNow by 46.7% in the third quarter. Oakworth Capital Inc. now owns 44 shares of the information technology services provider’s stock valued at $39,000 after buying an additional 14 shares in the last quarter. Finally, Dunhill Financial LLC lifted its stake in ServiceNow by 70.0% in the third quarter. Dunhill Financial LLC now owns 51 shares of the information technology services provider’s stock valued at $46,000 after buying an additional 21 shares in the last quarter. Institutional investors and hedge funds own 87.18% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently commented on NOW. Stifel Nicolaus raised their price objective on shares of ServiceNow from $900.00 to $990.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Mizuho lifted their price target on ServiceNow from $1,070.00 to $1,210.00 and gave the company an “outperform” rating in a research note on Friday, December 13th. Canaccord Genuity Group upped their price objective on ServiceNow from $1,000.00 to $1,200.00 and gave the stock a “buy” rating in a research report on Friday, December 20th. The Goldman Sachs Group lifted their target price on ServiceNow from $1,050.00 to $1,200.00 and gave the company a “buy” rating in a research report on Friday, January 10th. Finally, Oppenheimer upped their price target on ServiceNow from $1,020.00 to $1,150.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 3rd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, twenty-five have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $1,080.38.

Insider Activity

In other news, insider Nicholas Tzitzon sold 313 shares of the business’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $1,064.60, for a total value of $333,219.80. Following the completion of the sale, the insider now owns 3,649 shares of the company’s stock, valued at approximately $3,884,725.40. The trade was a 7.90 % 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, insider Jacqueline P. Canney sold 76 shares of the firm’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $1,010.94, for a total transaction of $76,831.44. Following the transaction, the insider now directly owns 3,027 shares in the company, valued at approximately $3,060,115.38. This represents a 2.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 20,731 shares of company stock valued at $21,016,751. 0.25% of the stock is owned by insiders.

ServiceNow Trading Up 1.4 %

Shares of ServiceNow stock opened at $1,072.02 on Monday. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.13 and a quick ratio of 1.13. The business has a fifty day simple moving average of $1,069.67 and a two-hundred day simple moving average of $932.23. ServiceNow, Inc. has a 1 year low of $637.99 and a 1 year high of $1,157.90. The company has a market capitalization of $220.84 billion, a price-to-earnings ratio of 166.72, a P/E/G ratio of 4.65 and a beta of 0.99.

ServiceNow (NYSE:NOW) last posted its earnings results on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.46 by $0.26. The company had revenue of $2.80 billion during the quarter, compared to analysts’ expectations of $2.75 billion. ServiceNow had a net margin of 12.77% and a return on equity of 16.03%. ServiceNow’s quarterly revenue was up 22.2% compared to the same quarter last year. During the same quarter last year, the company posted $1.21 EPS. Research analysts forecast that ServiceNow, Inc. will post 7.07 EPS for the current year.

ServiceNow Company 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.