ServiceNow, Inc. (NYSE:NOW) Shares Sold by Twin Capital Management Inc.

Twin Capital Management Inc. decreased its position in ServiceNow, Inc. (NYSE:NOW) by 2.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,934 shares of the information technology services provider’s stock after selling 66 shares during the quarter. Twin Capital Management Inc.’s holdings in ServiceNow were worth $2,073,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Sandbox Financial Partners LLC lifted its holdings in shares of ServiceNow by 8.6% in the 4th quarter. Sandbox Financial Partners LLC now owns 835 shares of the information technology services provider’s stock worth $590,000 after purchasing an additional 66 shares during the last quarter. Raymond James & Associates lifted its holdings in shares of ServiceNow by 5.9% in the 4th quarter. Raymond James & Associates now owns 331,406 shares of the information technology services provider’s stock worth $234,135,000 after purchasing an additional 18,442 shares during the last quarter. Sequoia Financial Advisors LLC lifted its holdings in shares of ServiceNow by 15.4% in the 4th quarter. Sequoia Financial Advisors LLC now owns 25,726 shares of the information technology services provider’s stock worth $18,175,000 after purchasing an additional 3,438 shares during the last quarter. Fifth Third Bancorp lifted its holdings in shares of ServiceNow by 4.7% in the 4th quarter. Fifth Third Bancorp now owns 70,150 shares of the information technology services provider’s stock worth $49,560,000 after purchasing an additional 3,154 shares during the last quarter. Finally, F M Investments LLC bought a new stake in shares of ServiceNow in the 3rd quarter worth approximately $1,624,000. Institutional investors and hedge funds own 87.18% of the company’s stock.

Insider Activity

In other news, insider Paul John Smith sold 1,795 shares of ServiceNow stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $781.06, for a total transaction of $1,402,002.70. Following the transaction, the insider now owns 994 shares in the company, valued at $776,373.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Paul John Smith sold 1,795 shares of ServiceNow stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $781.06, for a total transaction of $1,402,002.70. Following the transaction, the insider now owns 994 shares in the company, valued at $776,373.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO William R. Mcdermott sold 5,030 shares of ServiceNow stock in a transaction on Tuesday, February 20th. The shares were 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 owns 17,177 shares in the company, valued at approximately $12,935,655.16. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 13,164 shares of company stock worth $9,940,303. 0.25% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Piper Sandler raised their price target on ServiceNow from $750.00 to $830.00 and gave the stock an “overweight” rating in a report on Thursday, January 25th. Oppenheimer lifted their target price on ServiceNow from $750.00 to $800.00 and gave the company an “outperform” rating in a research note on Thursday, January 18th. Stifel Nicolaus reaffirmed a “buy” rating and set a $820.00 target price on shares of ServiceNow in a research note on Wednesday, March 20th. UBS Group lifted their target price on ServiceNow from $885.00 to $920.00 and gave the company a “buy” rating in a research note on Monday. Finally, Barclays lifted their target price on ServiceNow from $765.00 to $870.00 and gave the company an “overweight” rating in a research note on Tuesday, January 23rd. Three analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $780.37.

ServiceNow Stock Performance

Shares of NYSE NOW opened at $731.47 on Friday. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.20. The stock has a market capitalization of $150.23 billion, a price-to-earnings ratio of 86.98, a PEG ratio of 4.65 and a beta of 0.97. The stock’s fifty day simple moving average is $766.17 and its 200 day simple moving average is $700.64. ServiceNow, Inc. has a 52-week low of $427.68 and a 52-week high of $815.32.

ServiceNow (NYSE:NOW) last issued its earnings results on Wednesday, January 24th. The information technology services provider reported $3.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.77 by $0.34. The business 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 company’s quarterly revenue was up 25.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.88 EPS. As a group, sell-side analysts forecast that ServiceNow, Inc. will post 6.16 earnings per share for the current fiscal 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.