Larson Financial Group LLC Reduces Stock Position in ServiceNow, Inc. (NYSE:NOW)

Larson Financial Group LLC lowered its position in shares of ServiceNow, Inc. (NYSE:NOWFree Report) by 9.8% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 313 shares of the information technology services provider’s stock after selling 34 shares during the period. Larson Financial Group LLC’s holdings in ServiceNow were worth $221,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in NOW. Sandbox Financial Partners LLC lifted its position in shares of ServiceNow by 8.6% in the 4th quarter. Sandbox Financial Partners LLC now owns 835 shares of the information technology services provider’s stock worth $590,000 after purchasing an additional 66 shares during the period. Federated Hermes Inc. lifted its position in shares of ServiceNow by 19.8% in the 4th quarter. Federated Hermes Inc. now owns 300,122 shares of the information technology services provider’s stock worth $212,033,000 after purchasing an additional 49,631 shares during the period. Raymond James & Associates lifted its position in shares of ServiceNow by 5.9% in the 4th quarter. Raymond James & Associates now owns 331,406 shares of the information technology services provider’s stock worth $234,135,000 after purchasing an additional 18,442 shares during the period. Sequoia Financial Advisors LLC lifted its position in shares of ServiceNow by 15.4% in the 4th quarter. Sequoia Financial Advisors LLC now owns 25,726 shares of the information technology services provider’s stock worth $18,175,000 after purchasing an additional 3,438 shares during the period. Finally, Fifth Third Bancorp lifted its position in shares of ServiceNow by 4.7% in the 4th quarter. Fifth Third Bancorp now owns 70,150 shares of the information technology services provider’s stock worth $49,560,000 after purchasing an additional 3,154 shares during the period. Hedge funds and other institutional investors own 87.18% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on NOW. BMO Capital Markets decreased their price target on shares of ServiceNow from $850.00 to $830.00 and set an “outperform” rating for the company in a research note on Thursday. Stifel Nicolaus reiterated a “buy” rating and issued a $820.00 price target on shares of ServiceNow in a research note on Wednesday, March 20th. Mizuho increased their price target on shares of ServiceNow from $750.00 to $820.00 and gave the stock a “buy” rating in a research note on Thursday, January 25th. Robert W. Baird increased their price target on shares of ServiceNow from $780.00 to $870.00 and gave the stock an “outperform” rating in a research note on Thursday, January 25th. Finally, KeyCorp initiated coverage on shares of ServiceNow in a research note on Thursday, March 21st. They issued an “overweight” rating and a $1,000.00 price target for the company. Three research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $779.63.

View Our Latest Report on NOW

Insider Buying and Selling

In other ServiceNow news, insider Paul John Smith sold 1,180 shares of the business’s stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $767.12, for a total transaction of $905,201.60. Following the transaction, the insider now owns 1,392 shares in the company, valued at $1,067,831.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other ServiceNow news, insider Paul John Smith sold 1,180 shares of the business’s stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $767.12, for a total transaction of $905,201.60. Following the transaction, the insider now owns 1,392 shares in the company, valued at $1,067,831.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO William R. Mcdermott sold 5,030 shares of the business’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $753.08, for a total transaction of $3,787,992.40. Following the transaction, the chief executive officer now owns 17,177 shares in the company, valued at approximately $12,935,655.16. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 13,164 shares of company stock worth $9,940,303. Insiders own 0.25% of the company’s stock.

ServiceNow Trading Up 0.7 %

ServiceNow stock opened at $746.39 on Thursday. The stock has a market cap of $153.29 billion, a P/E ratio of 88.75, a PEG ratio of 4.68 and a beta of 0.97. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.06 and a quick ratio of 1.06. ServiceNow, Inc. has a 1 year low of $427.68 and a 1 year high of $815.32. The firm’s 50 day moving average price is $761.32 and its 200-day moving average price is $706.74.

ServiceNow (NYSE:NOWGet Free Report) last released its quarterly earnings data on Wednesday, January 24th. The information technology services provider reported $3.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.77 by $0.34. The firm had revenue of $2.44 billion for the quarter, compared to analysts’ expectations of $2.40 billion. ServiceNow had a net margin of 19.30% and a return on equity of 11.85%. The company’s revenue for the quarter was up 25.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.88 earnings per share. On average, equities analysts predict that ServiceNow, Inc. will post 6.16 earnings per share for the current fiscal year.

ServiceNow Company Profile

(Free Report)

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.

Further Reading

Want to see what other hedge funds are holding NOW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ServiceNow, Inc. (NYSE:NOWFree Report).

Institutional Ownership by Quarter for ServiceNow (NYSE:NOW)

Receive News & Ratings for ServiceNow Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ServiceNow and related companies with MarketBeat.com's FREE daily email newsletter.