Donoghue Forlines LLC Sells 1,254 Shares of ServiceNow, Inc. (NYSE:NOW)

Donoghue Forlines LLC lowered its position in ServiceNow, Inc. (NYSE:NOW) by 40.3% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 1,861 shares of the information technology services provider’s stock after selling 1,254 shares during the period. Donoghue Forlines LLC’s holdings in ServiceNow were worth $1,973,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Public Sector Pension Investment Board increased its stake in ServiceNow by 74.4% in the 2nd quarter. Public Sector Pension Investment Board now owns 7,884 shares of the information technology services provider’s stock worth $6,202,000 after acquiring an additional 3,364 shares during the last quarter. Semmax Financial Advisors Inc. purchased a new stake in ServiceNow during the 2nd quarter valued at $39,000. Bwcp LP bought a new stake in ServiceNow in the second quarter worth $9,645,000. Insigneo Advisory Services LLC boosted its stake in ServiceNow by 29.2% during the second quarter. Insigneo Advisory Services LLC now owns 2,393 shares of the information technology services provider’s stock worth $1,870,000 after buying an additional 541 shares during the period. Finally, Fred Alger Management LLC increased its position in ServiceNow by 36.5% during the second quarter. Fred Alger Management LLC now owns 157,546 shares of the information technology services provider’s stock valued at $123,937,000 after acquiring an additional 42,091 shares during the last quarter. Hedge funds and other institutional investors own 87.18% of the company’s stock.

Analyst Upgrades and Downgrades

NOW has been the topic of several analyst reports. Sanford C. Bernstein upped their price target on shares of ServiceNow from $906.00 to $913.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Truist Financial increased their price target on ServiceNow from $900.00 to $1,100.00 and gave the stock a “hold” rating in a report on Thursday, December 12th. Wells Fargo & Company boosted their price objective on ServiceNow from $1,150.00 to $1,250.00 and gave the company an “overweight” rating in a report on Thursday, December 5th. Morgan Stanley lowered ServiceNow from an “overweight” rating to an “equal weight” rating and increased their target price for the stock from $900.00 to $960.00 in a research note on Monday, October 21st. Finally, Mizuho upped their price target on shares of ServiceNow from $1,070.00 to $1,210.00 and gave the stock an “outperform” rating in a report on Friday, December 13th. One analyst has rated the stock with a sell rating, three have given a hold rating, twenty-five have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, ServiceNow presently has a consensus rating of “Moderate Buy” and an average target price of $1,093.34.

ServiceNow Trading Down 0.2 %

NYSE NOW opened at $1,122.40 on Thursday. ServiceNow, Inc. has a 52 week low of $637.99 and a 52 week high of $1,157.90. The company has a 50 day moving average price of $1,072.95 and a 200 day moving average price of $938.64. 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 firm has a market cap of $231.21 billion, a PE ratio of 174.35, a price-to-earnings-growth ratio of 4.98 and a beta of 0.99.

ServiceNow (NYSE:NOW) last issued its quarterly earnings results on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.46 by $0.26. The business had revenue of $2.80 billion for the quarter, compared to the consensus estimate of $2.75 billion. ServiceNow had a return on equity of 16.03% and a net margin of 12.77%. The business’s quarterly revenue was up 22.2% on a year-over-year basis. During the same period in the prior year, the firm posted $1.21 earnings per share. As a group, sell-side analysts forecast that ServiceNow, Inc. will post 7.04 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Jeffrey A. Miller sold 2,879 shares of ServiceNow stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $1,019.12, for a total transaction of $2,934,046.48. Following the completion of the sale, the director now owns 42,920 shares of the company’s stock, valued at $43,740,630.40. The trade was a 6.29 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO William R. Mcdermott sold 12,271 shares of the stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $997.67, for a total transaction of $12,242,408.57. Following the completion of the transaction, the chief executive officer now owns 2,595 shares in the company, valued at approximately $2,588,953.65. This trade represents a 82.54 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 20,731 shares of company stock worth $21,016,751 in the last ninety days. 0.25% of the stock is owned by insiders.

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.