Cornerstone Planning Group LLC Sells 13 Shares of ServiceNow, Inc. (NYSE:NOW)

Cornerstone Planning Group LLC lessened its stake in ServiceNow, Inc. (NYSE:NOW) by 16.7% in the third quarter, HoldingsChannel reports. The firm owned 65 shares of the information technology services provider’s stock after selling 13 shares during the period. Cornerstone Planning Group LLC’s holdings in ServiceNow were worth $62,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Creekmur Asset Management LLC bought a new position in shares of ServiceNow during the first quarter worth $25,000. Versant Capital Management Inc lifted its holdings in ServiceNow by 466.7% during the second quarter. Versant Capital Management Inc now owns 34 shares of the information technology services provider’s stock worth $27,000 after acquiring an additional 28 shares in the last quarter. EntryPoint Capital LLC grew its stake in ServiceNow by 3,900.0% in the first quarter. EntryPoint Capital LLC now owns 40 shares of the information technology services provider’s stock valued at $30,000 after acquiring an additional 39 shares during the period. Ridgewood Investments LLC bought a new stake in shares of ServiceNow in the second quarter worth about $32,000. Finally, DT Investment Partners LLC raised its position in shares of ServiceNow by 77.3% during the third quarter. DT Investment Partners LLC now owns 39 shares of the information technology services provider’s stock worth $35,000 after purchasing an additional 17 shares during the period. Institutional investors and hedge funds own 87.18% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. JMP Securities boosted their price objective on ServiceNow from $850.00 to $1,000.00 and gave the company a “market outperform” rating in a research report on Thursday, October 17th. KeyCorp upped their target price on shares of ServiceNow from $1,020.00 to $1,040.00 and gave the stock an “overweight” rating in a research note on Thursday, October 24th. BMO Capital Markets lifted their price target 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 price objective on ServiceNow from $900.00 to $975.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Finally, Canaccord Genuity Group lifted their target price on ServiceNow from $850.00 to $1,000.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $974.04.

Insider Transactions at ServiceNow

In other ServiceNow news, insider Jacqueline P. Canney sold 76 shares of the company’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $1,010.94, for a total value of $76,831.44. Following the transaction, the insider now directly owns 3,027 shares of the company’s stock, valued at $3,060,115.38. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other ServiceNow news, insider Jacqueline P. Canney sold 76 shares of the business’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $1,010.94, for a total value of $76,831.44. Following the completion of the sale, the insider now owns 3,027 shares of the company’s stock, valued at $3,060,115.38. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Nicholas Tzitzon sold 1,857 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $829.68, for a total transaction of $1,540,715.76. Following the transaction, the insider now directly owns 3,649 shares in the company, valued at $3,027,502.32. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 5,359 shares of company stock worth $5,038,241 over the last quarter. Company insiders own 0.25% of the company’s stock.

ServiceNow Trading Up 0.2 %

Shares of ServiceNow stock opened at $1,050.00 on Wednesday. ServiceNow, Inc. has a 1 year low of $637.99 and a 1 year high of $1,053.26. The company has a market capitalization of $216.30 billion, a price-to-earnings ratio of 163.03, a P/E/G ratio of 5.95 and a beta of 0.98. The business has a fifty day simple moving average of $920.45 and a two-hundred day simple moving average of $818.12. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.13 and a quick ratio of 1.13.

ServiceNow (NYSE:NOW) last announced its earnings results on Wednesday, October 23rd. The information technology services provider reported $3.72 EPS for the quarter, topping the consensus estimate of $3.46 by $0.26. ServiceNow had a net margin of 12.77% and a return on equity of 16.03%. The business had revenue of $2.80 billion during the quarter, compared to the consensus estimate of $2.75 billion. During the same quarter in the previous year, the firm posted $1.21 EPS. ServiceNow’s revenue was up 22.2% compared to the same quarter last year. Research analysts forecast that ServiceNow, Inc. will post 7.07 EPS for the current year.

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.