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

Narwhal Capital Management cut its position in shares of ServiceNow, Inc. (NYSE:NOW) by 2.6% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 3,065 shares of the information technology services provider’s stock after selling 81 shares during the quarter. Narwhal Capital Management’s holdings in ServiceNow were worth $2,741,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. M&G Plc purchased a new stake in shares of ServiceNow in the 1st quarter worth about $11,030,000. AXA S.A. grew its position in shares of ServiceNow by 1.1% in the second quarter. AXA S.A. now owns 387,344 shares of the information technology services provider’s stock valued at $304,712,000 after purchasing an additional 4,271 shares during the last quarter. HWG Holdings LP purchased a new position in shares of ServiceNow during the 2nd quarter worth approximately $2,679,000. New Mexico Educational Retirement Board raised its position in shares of ServiceNow by 9.4% during the 1st quarter. New Mexico Educational Retirement Board now owns 11,650 shares of the information technology services provider’s stock worth $8,882,000 after purchasing an additional 1,000 shares during 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. 87.18% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. Mizuho boosted their price target on ServiceNow from $850.00 to $980.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Needham & Company LLC restated a “buy” rating and issued a $900.00 target price on shares of ServiceNow in a report on Monday, September 9th. Citigroup lifted their price target on shares of ServiceNow from $915.00 to $1,068.00 and gave the stock a “buy” rating in a report on Thursday, October 17th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of ServiceNow from $875.00 to $900.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Finally, Morgan Stanley cut shares of ServiceNow from an “overweight” rating to an “equal weight” rating and lifted their target price for the stock from $900.00 to $960.00 in a research note on Monday. One 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. Based on data from MarketBeat.com, ServiceNow currently has a consensus rating of “Moderate Buy” and an average target price of $923.00.

ServiceNow Trading Down 0.0 %

NYSE:NOW opened at $917.92 on Wednesday. The business’s 50-day moving average is $878.83 and its two-hundred day moving average is $794.29. The firm has a market capitalization of $188.17 billion, a PE ratio of 98.17, 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. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.12 and a quick ratio of 1.12.

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

Insider Buying and Selling at ServiceNow

In other news, insider Jacqueline P. Canney sold 94 shares of the company’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $825.92, for a total value of $77,636.48. Following the completion of the transaction, the insider now directly owns 4,019 shares in the company, valued at approximately $3,319,372.48. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Jacqueline P. Canney sold 94 shares of the business’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $825.92, for a total value of $77,636.48. Following the transaction, the insider now owns 4,019 shares in the company, valued at approximately $3,319,372.48. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Gina Mastantuono sold 1,800 shares of ServiceNow stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $825.00, for a total value of $1,485,000.00. Following the sale, the chief financial officer now owns 11,490 shares in the company, valued at $9,479,250. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 7,267 shares of company stock valued at $5,935,447 over the last 90 days. 0.25% of the stock is owned by corporate insiders.

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.