ServiceNow, Inc. (NYSE:NOW) Stock Position Lessened by Retireful LLC

Retireful LLC cut its stake in ServiceNow, Inc. (NYSE:NOW) by 24.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 957 shares of the information technology services provider’s stock after selling 315 shares during the period. ServiceNow makes up approximately 0.6% of Retireful LLC’s investment portfolio, making the stock its 29th biggest position. Retireful LLC’s holdings in ServiceNow were worth $856,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Creekmur Asset Management LLC acquired a new position in ServiceNow in the first quarter worth approximately $25,000. Versant Capital Management Inc grew its holdings in shares of ServiceNow by 466.7% in the 2nd 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 during the last quarter. EntryPoint Capital LLC boosted its position in shares of ServiceNow by 3,900.0% in the 1st quarter. EntryPoint Capital LLC now owns 40 shares of the information technology services provider’s stock valued at $30,000 after purchasing an additional 39 shares during the period. Ridgewood Investments LLC purchased a new position in ServiceNow in the 2nd quarter worth about $32,000. Finally, DT Investment Partners LLC lifted its stake in ServiceNow by 77.3% during the third quarter. DT Investment Partners LLC now owns 39 shares of the information technology services provider’s stock valued at $35,000 after buying an additional 17 shares in the last quarter. 87.18% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other ServiceNow news, insider Nicholas Tzitzon sold 1,857 shares of the firm’s stock in a transaction dated 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 owns 3,649 shares in the company, valued at approximately $3,027,502.32. This trade represents a 33.73 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jacqueline P. Canney sold 353 shares of the company’s stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $924.96, for a total value of $326,510.88. Following the completion of the sale, the insider now directly owns 3,027 shares of the company’s stock, valued at approximately $2,799,853.92. This trade represents a 10.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 7,373 shares of company stock valued at $7,139,335. 0.25% of the stock is currently owned by corporate insiders.

ServiceNow Trading Up 1.7 %

Shares of NOW stock opened at $1,022.19 on Wednesday. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.16. The company has a market capitalization of $210.57 billion, a P/E ratio of 158.97, a P/E/G ratio of 5.80 and a beta of 0.98. ServiceNow, Inc. has a 12-month low of $637.99 and a 12-month high of $1,061.66. The firm has a 50-day moving average price of $938.70 and a 200 day moving average price of $829.46.

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 return on equity of 16.03% and a net margin of 12.77%. The company had revenue of $2.80 billion for the quarter, compared to analysts’ expectations of $2.75 billion. During the same quarter in the prior year, the business earned $1.21 earnings per share. The business’s revenue for the quarter was up 22.2% on a year-over-year basis. Research analysts forecast that ServiceNow, Inc. will post 7.07 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. UBS Group lifted their target price on shares of ServiceNow from $900.00 to $1,055.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. JPMorgan Chase & Co. upped their price target on ServiceNow from $820.00 to $950.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th. Jefferies Financial Group raised their price objective on ServiceNow from $900.00 to $1,100.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Stifel Nicolaus lifted their target price on ServiceNow from $900.00 to $990.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. Finally, Royal Bank of Canada increased their price target on shares of ServiceNow from $985.00 to $1,045.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. One research analyst has rated the stock with a sell rating, two have given a hold rating, twenty-six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $986.39.

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.