ServiceNow, Inc. (NYSE:NOW) Shares Sold by Orion Portfolio Solutions LLC

Orion Portfolio Solutions LLC trimmed its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 9.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 35,504 shares of the information technology services provider’s stock after selling 3,559 shares during the quarter. Orion Portfolio Solutions LLC’s holdings in ServiceNow were worth $24,720,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its position in ServiceNow by 0.7% during the 3rd quarter. Vanguard Group Inc. now owns 17,753,781 shares of the information technology services provider’s stock worth $9,923,653,000 after acquiring an additional 122,577 shares during the period. FMR LLC lifted its position in ServiceNow by 17.3% during the 3rd quarter. FMR LLC now owns 4,036,796 shares of the information technology services provider’s stock worth $2,256,407,000 after acquiring an additional 595,697 shares during the period. Jennison Associates LLC lifted its position in ServiceNow by 2.2% during the 4th quarter. Jennison Associates LLC now owns 2,521,190 shares of the information technology services provider’s stock worth $1,781,195,000 after acquiring an additional 53,719 shares during the period. Norges Bank acquired a new stake in ServiceNow during the 4th quarter worth approximately $1,648,259,000. Finally, Massachusetts Financial Services Co. MA lifted its position in ServiceNow by 3.7% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,281,748 shares of the information technology services provider’s stock worth $1,612,032,000 after acquiring an additional 81,028 shares during the period. 87.18% of the stock is owned by institutional investors and hedge funds.

ServiceNow Trading Down 2.6 %

NOW stock traded down $19.64 during trading on Friday, reaching $738.51. 1,356,490 shares of the stock traded hands, compared to its average volume of 1,198,804. The business’s 50 day moving average price is $747.20 and its 200-day moving average price is $730.54. ServiceNow, Inc. has a 52-week low of $517.80 and a 52-week high of $815.32. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.05 and a quick ratio of 1.05. The firm has a market capitalization of $151.39 billion, a PE ratio of 79.69, a P/E/G ratio of 4.83 and a beta of 0.98.

ServiceNow (NYSE:NOW) last posted its quarterly earnings results on Wednesday, April 24th. The information technology services provider reported $1.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.41 by $0.41. ServiceNow had a return on equity of 13.59% and a net margin of 20.34%. The firm had revenue of $2.60 billion during the quarter, compared to the consensus estimate of $2.59 billion. As a group, sell-side analysts forecast that ServiceNow, Inc. will post 6.5 earnings per share for the current year.

Insider Transactions at ServiceNow

In related news, insider Paul John Smith sold 190 shares of the business’s stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $718.78, for a total value of $136,568.20. Following the transaction, the insider now owns 3,010 shares in the company, valued at $2,163,527.80. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders sold 917 shares of company stock valued at $690,880 over the last quarter. Company insiders own 0.25% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on NOW shares. Piper Sandler increased their target price on ServiceNow from $750.00 to $830.00 and gave the stock an “overweight” rating in a research note on Thursday, January 25th. BMO Capital Markets cut their target price on ServiceNow from $850.00 to $830.00 and set an “outperform” rating for the company in a research note on Thursday, April 25th. Guggenheim reissued a “neutral” rating on shares of ServiceNow in a research note on Monday, April 15th. Wells Fargo & Company raised their price objective on ServiceNow from $875.00 to $900.00 and gave the company an “overweight” rating in a research note on Tuesday, April 16th. Finally, Jefferies Financial Group raised their price objective on ServiceNow from $885.00 to $900.00 and gave the company a “buy” rating in a research note on Wednesday, April 10th. Three analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $808.73.

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.