ServiceNow, Inc. (NYSE:NOW) Shares Sold by TCW Group Inc.

TCW Group Inc. decreased its holdings in ServiceNow, Inc. (NYSE:NOW) by 11.5% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 459,198 shares of the information technology services provider’s stock after selling 59,432 shares during the quarter. ServiceNow accounts for about 3.6% of TCW Group Inc.’s investment portfolio, making the stock its 3rd largest position. TCW Group Inc. owned approximately 0.22% of ServiceNow worth $324,407,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of the stock. SageView Advisory Group LLC boosted its holdings in shares of ServiceNow by 155.8% in the fourth quarter. SageView Advisory Group LLC now owns 2,914 shares of the information technology services provider’s stock worth $2,059,000 after buying an additional 1,775 shares during the period. AXS Investments LLC grew its position in ServiceNow by 2.4% during the 4th quarter. AXS Investments LLC now owns 7,502 shares of the information technology services provider’s stock worth $5,300,000 after purchasing an additional 177 shares in the last quarter. Commerce Bank lifted its holdings in shares of ServiceNow by 9.9% in the fourth quarter. Commerce Bank now owns 118,305 shares of the information technology services provider’s stock valued at $83,581,000 after purchasing an additional 10,616 shares in the last quarter. US Bancorp DE grew its stake in ServiceNow by 1.6% during the 4th quarter. US Bancorp DE now owns 182,327 shares of the information technology services provider’s stock valued at $128,812,000 after acquiring an additional 2,830 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. raised its holdings in ServiceNow by 28.2% during the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 23,145 shares of the information technology services provider’s stock valued at $16,351,000 after buying an additional 5,095 shares in the last quarter. Institutional investors own 87.18% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on NOW shares. Needham & Company LLC restated a “buy” rating and set a $900.00 price target on shares of ServiceNow in a research note on Tuesday, May 7th. BMO Capital Markets reduced their price objective on ServiceNow from $850.00 to $830.00 and set an “outperform” rating on the stock in a research note on Thursday, April 25th. UBS Group cut their price target on ServiceNow from $920.00 to $875.00 and set a “buy” rating for the company in a report on Thursday, April 25th. Truist Financial increased their price objective on shares of ServiceNow from $700.00 to $750.00 and gave the stock a “hold” rating in a report on Thursday, January 25th. Finally, William Blair reaffirmed an “outperform” rating on shares of ServiceNow in a research note on Tuesday, May 7th. Three research analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $808.73.

Insiders Place Their Bets

In related news, insider Paul John Smith sold 125 shares of the stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $727.38, for a total transaction of $90,922.50. Following the completion of the transaction, the insider now owns 3,112 shares in the company, valued at $2,263,606.56. The transaction was disclosed in a document filed with the SEC, which is available through this link. Insiders have sold 917 shares of company stock valued at $690,880 in the last three months. 0.25% of the stock is currently owned by insiders.

ServiceNow Trading Down 1.6 %

Shares of NYSE:NOW traded down $12.68 during mid-day trading on Thursday, reaching $758.15. 852,961 shares of the company’s stock were exchanged, compared to its average volume of 1,197,134. The firm has a market capitalization of $155.42 billion, a price-to-earnings ratio of 82.22, a PEG ratio of 4.87 and a beta of 0.98. ServiceNow, Inc. has a twelve month low of $494.13 and a twelve month high of $815.32. The business’s fifty day moving average price is $747.63 and its 200-day moving average price is $730.35. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.05 and a current ratio of 1.05.

ServiceNow (NYSE:NOW) last posted its quarterly earnings data on Wednesday, April 24th. The information technology services provider reported $1.82 earnings per share for the quarter, topping the consensus estimate of $1.41 by $0.41. ServiceNow had a net margin of 20.34% and a return on equity of 13.59%. The company had revenue of $2.60 billion during the quarter, compared to analysts’ expectations of $2.59 billion. On average, research analysts predict that ServiceNow, Inc. will post 6.5 EPS for the current fiscal 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.