Sequoia Financial Advisors LLC Decreases Holdings in ServiceNow, Inc. (NYSE:NOW)

Sequoia Financial Advisors LLC decreased its position in shares of ServiceNow, Inc. (NYSE:NOW) by 7.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,555 shares of the information technology services provider’s stock after selling 1,796 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in ServiceNow were worth $20,173,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. M&G Plc purchased a new stake in shares of ServiceNow during the 1st quarter worth approximately $11,030,000. AXA S.A. lifted its stake in ServiceNow by 1.1% in the 2nd quarter. AXA S.A. now owns 387,344 shares of the information technology services provider’s stock valued at $304,712,000 after buying an additional 4,271 shares in the last quarter. HWG Holdings LP purchased a new stake in ServiceNow in the 2nd quarter valued at approximately $2,679,000. New Mexico Educational Retirement Board lifted its stake in ServiceNow by 9.4% in the 1st quarter. New Mexico Educational Retirement Board now owns 11,650 shares of the information technology services provider’s stock valued at $8,882,000 after buying an additional 1,000 shares in the last quarter. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management lifted its stake in ServiceNow by 375.6% in the 1st quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 1,365 shares of the information technology services provider’s stock valued at $1,041,000 after buying an additional 1,078 shares in the last quarter. Hedge funds and other institutional investors own 87.18% of the company’s stock.

Insider Transactions at ServiceNow

In other news, CFO Gina Mastantuono sold 1,800 shares of the stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $825.00, for a total transaction of $1,485,000.00. Following the transaction, the chief financial officer now owns 11,490 shares of the company’s stock, valued at approximately $9,479,250. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other ServiceNow news, CFO Gina Mastantuono sold 1,800 shares of the firm’s stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $825.00, for a total value of $1,485,000.00. Following the transaction, the chief financial officer now owns 11,490 shares of the company’s stock, valued at $9,479,250. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, General Counsel Russell S. Elmer sold 1,937 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $779.81, for a total transaction of $1,510,491.97. Following the completion of the sale, the general counsel now owns 6,736 shares in the company, valued at $5,252,800.16. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 7,267 shares of company stock valued at $5,935,447. Insiders own 0.25% of the company’s stock.

ServiceNow Stock Up 0.3 %

NYSE:NOW traded up $2.49 on Tuesday, reaching $920.83. The stock had a trading volume of 272,788 shares, compared to its average volume of 1,268,134. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.17. The company has a 50-day moving average of $876.85 and a 200 day moving average of $793.35. The stock has a market cap of $188.77 billion, a P/E ratio of 98.22, a price-to-earnings-growth ratio of 5.63 and a beta of 0.99. ServiceNow, Inc. has a 12-month low of $527.24 and a 12-month high of $949.59.

ServiceNow (NYSE:NOW) last posted its quarterly earnings data on Wednesday, July 24th. The information technology services provider reported $3.13 earnings per share for the quarter, beating analysts’ consensus estimates of $2.85 by $0.28. The company had revenue of $2.63 billion during the quarter, compared to analysts’ expectations of $2.61 billion. ServiceNow had a net margin of 11.51% and a return on equity of 14.52%. The firm’s revenue for the quarter was up 22.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.77 EPS. On average, research analysts predict that ServiceNow, Inc. will post 6.78 earnings per share for the current year.

Analysts Set New Price Targets

NOW has been the topic of a number of recent research reports. TD Cowen upped their target price on ServiceNow from $900.00 to $1,000.00 and gave the company a “buy” rating in a research note on Monday. BMO Capital Markets upped their target price on ServiceNow from $860.00 to $1,025.00 and gave the company an “outperform” rating in a research note on Thursday, October 10th. Robert W. Baird upped their target price on ServiceNow from $885.00 to $900.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Guggenheim reiterated a “sell” rating and issued a $640.00 price target on shares of ServiceNow in a report on Monday, July 8th. Finally, Stifel Nicolaus boosted their price target on ServiceNow from $820.00 to $900.00 and gave the company a “buy” rating in a report on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and twenty-four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $923.00.

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.