Institute for Wealth Management LLC. Sells 122 Shares of ServiceNow, Inc. (NYSE:NOW)

Institute for Wealth Management LLC. lowered its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 4.5% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,600 shares of the information technology services provider’s stock after selling 122 shares during the period. Institute for Wealth Management LLC.’s holdings in ServiceNow were worth $1,837,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in NOW. Norges Bank bought a new stake in ServiceNow in the 4th quarter valued at $872,202,000. Moneta Group Investment Advisors LLC raised its stake in ServiceNow by 69,897.5% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 856,069 shares of the information technology services provider’s stock valued at $332,386,000 after acquiring an additional 854,846 shares during the period. International Assets Investment Management LLC raised its stake in ServiceNow by 69,354.6% in the 4th quarter. International Assets Investment Management LLC now owns 821,648 shares of the information technology services provider’s stock valued at $580,486,000 after acquiring an additional 820,465 shares during the period. FMR LLC raised its stake in ServiceNow by 17.3% in the 3rd quarter. FMR LLC now owns 4,036,796 shares of the information technology services provider’s stock valued at $2,256,407,000 after acquiring an additional 595,697 shares during the period. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its stake in ServiceNow by 129.4% in the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 994,367 shares of the information technology services provider’s stock valued at $386,082,000 after acquiring an additional 560,908 shares during the period. Institutional investors own 87.18% of the company’s stock.

Insider Transactions at ServiceNow

In related news, CEO William R. Mcdermott sold 5,030 shares of ServiceNow stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $753.08, for a total value of $3,787,992.40. Following the transaction, the chief executive officer now directly owns 17,177 shares of the company’s stock, valued at $12,935,655.16. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, CEO William R. Mcdermott sold 5,030 shares of ServiceNow stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $753.08, for a total value of $3,787,992.40. Following the transaction, the chief executive officer now directly owns 17,177 shares of the company’s stock, valued at $12,935,655.16. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Paul John Smith sold 1,180 shares of ServiceNow stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $767.12, for a total value of $905,201.60. Following the completion of the transaction, the insider now directly owns 1,392 shares in the company, valued at $1,067,831.04. The disclosure for this sale can be found here. Over the last three months, insiders have sold 13,164 shares of company stock worth $9,940,303. Insiders own 0.25% of the company’s stock.

ServiceNow Trading Down 2.5 %

Shares of NYSE:NOW traded down $18.25 during midday trading on Friday, hitting $713.11. 1,087,258 shares of the stock were exchanged, compared to its average volume of 1,169,660. The stock has a market capitalization of $146.46 billion, a price-to-earnings ratio of 84.75, a P/E/G ratio of 4.65 and a beta of 0.97. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.06 and a current ratio of 1.06. The business’s 50-day moving average price is $766.17 and its 200 day moving average price is $700.64. ServiceNow, Inc. has a 12 month low of $427.68 and a 12 month high of $815.32.

ServiceNow (NYSE:NOW) last released its quarterly earnings results on Wednesday, January 24th. The information technology services provider reported $3.11 earnings per share for the quarter, topping the consensus estimate of $2.77 by $0.34. The company had revenue of $2.44 billion for the quarter, compared to analysts’ expectations of $2.40 billion. ServiceNow had a return on equity of 11.85% and a net margin of 19.30%. The business’s quarterly revenue was up 25.6% compared to the same quarter last year. During the same period in the previous year, the business posted $0.88 earnings per share. Analysts predict that ServiceNow, Inc. will post 6.16 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on NOW shares. Piper Sandler increased their price target on ServiceNow from $750.00 to $830.00 and gave the company an “overweight” rating in a research note on Thursday, January 25th. Barclays increased their price target on ServiceNow from $765.00 to $870.00 and gave the company an “overweight” rating in a research note on Tuesday, January 23rd. Mizuho increased their price objective on ServiceNow from $750.00 to $820.00 and gave the stock a “buy” rating in a research report on Thursday, January 25th. KeyCorp initiated coverage on ServiceNow in a research report on Thursday, March 21st. They set an “overweight” rating and a $1,000.00 price objective on the stock. Finally, Needham & Company LLC reiterated a “buy” rating and set a $900.00 price objective on shares of ServiceNow in a research report on Tuesday. Three investment analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company. According to data from MarketBeat.com, ServiceNow currently has a consensus rating of “Moderate Buy” and an average price target of $780.37.

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.