ServiceNow, Inc. $NOW Stock: Talbot Financial LLC Cuts Stake

Talbot Financial LLC reduced its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 16.6% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 96,164 shares of the information technology services provider’s stock after selling 19,173 shares during the period. Talbot Financial LLC’s holdings in ServiceNow were worth $12,887,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Bank of Nova Scotia raised its holdings in shares of ServiceNow by 53.3% during the 1st quarter. Bank of Nova Scotia now owns 1,018,036 shares of the information technology services provider’s stock worth $106,436,000 after buying an additional 353,749 shares in the last quarter. Sapient Capital LLC boosted its stake in ServiceNow by 266.0% in the second quarter. Sapient Capital LLC now owns 77,661 shares of the information technology services provider’s stock valued at $7,710,000 after buying an additional 56,444 shares in the last quarter. Meeder Advisory Services Inc. acquired a new stake in ServiceNow in the second quarter valued at about $2,881,000. Vestor Capital LLC grew its position in ServiceNow by 38,987.2% in the first quarter. Vestor Capital LLC now owns 122,343 shares of the information technology services provider’s stock valued at $12,791,000 after acquiring an additional 122,030 shares during the last quarter. Finally, Cardano Risk Management B.V. grew its position in ServiceNow by 6.9% in the second quarter. Cardano Risk Management B.V. now owns 484,785 shares of the information technology services provider’s stock valued at $48,129,000 after acquiring an additional 31,119 shares during the last quarter. 87.18% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have commented on NOW shares. Evercore reissued an “outperform” rating on shares of ServiceNow in a research note on Tuesday, October 13th. Piper Sandler raised their price target on shares of ServiceNow from $140.00 to $175.00 and gave the company an “overweight” rating in a research note on Friday. BTIG Research reaffirmed a “buy” rating and set a $170.00 price target on shares of ServiceNow in a report on Monday, October 12th. Needham & Company LLC upped their price objective on shares of ServiceNow from $115.00 to $155.00 and gave the stock a “buy” rating in a research report on Friday, September 11th. Finally, DA Davidson set a $170.00 price objective on shares of ServiceNow and gave the company a “buy” rating in a research note on Monday, July 20th. One investment analyst has rated the stock with a Strong Buy rating, thirty-six have assigned a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $152.29.

Insider Activity at ServiceNow

In other ServiceNow news, insider Jacqueline P. Canney sold 7,847 shares of the company’s stock in a transaction that occurred on Friday, August 28th. The shares were sold at an average price of $138.00, for a total value of $1,082,886.00. Following the completion of the transaction, the insider directly owned 30,042 shares in the company, valued at approximately $4,145,796. This represents a 20.71% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Paul Fipps sold 2,034 shares of the company’s stock in a transaction that occurred on Monday, August 31st. The shares were sold at an average price of $147.87, for a total transaction of $300,767.58. Following the completion of the transaction, the insider owned 18,305 shares of the company’s stock, valued at approximately $2,706,760.35. This trade represents a 10.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 14,081 shares of company stock worth $1,937,904 in the last quarter. 0.34% of the stock is owned by insiders.

ServiceNow Trading Up 2.1%

ServiceNow stock traded up $2.97 during trading hours on Monday, hitting $144.94. The stock had a trading volume of 5,153,384 shares, compared to its average volume of 21,512,283. The business’s 50 day simple moving average is $135.20 and its 200-day simple moving average is $113.73. ServiceNow, Inc. has a one year low of $81.24 and a one year high of $192.97. The stock has a market cap of $149.87 billion, a price-to-earnings ratio of 90.59, a P/E/G ratio of 2.61 and a beta of 0.99. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.43.

ServiceNow (NYSE:NOW) last released its quarterly earnings results on Wednesday, July 22nd. The information technology services provider reported $0.90 earnings per share for the quarter, topping the consensus estimate of $0.86 by $0.04. ServiceNow had a return on equity of 16.45% and a net margin of 11.34%. The company had revenue of $3.99 billion for the quarter, compared to analysts’ expectations of $3.93 billion. During the same period in the previous year, the business posted $0.81 earnings per share. The business’s quarterly revenue was up 24.0% compared to the same quarter last year. On average, equities analysts predict that ServiceNow, Inc. will post 2.22 EPS for the current fiscal year.

ServiceNow Profile

ServiceNow, Inc provides cloud-based software designed to help organizations digitize, automate and manage enterprise workflows. Its Now Platform connects people, processes and systems across departments, enabling customers to manage work through a centralized technology environment.

The company’s products and services address a range of business needs, including information technology service management, IT operations management, customer service management, human resources service delivery, security operations, risk and compliance, and application development.