SYSTM Wealth Solutions LLC Sells 141 Shares of ServiceNow, Inc. (NYSE:NOW)

SYSTM Wealth Solutions LLC reduced its position in shares of ServiceNow, Inc. (NYSE:NOW) by 3.1% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 4,341 shares of the information technology services provider’s stock after selling 141 shares during the quarter. SYSTM Wealth Solutions LLC’s holdings in ServiceNow were worth $3,415,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of NOW. Swedbank AB bought a new stake in shares of ServiceNow during the 1st quarter worth $897,908,000. Global Assets Advisory LLC bought a new stake in shares of ServiceNow during the 1st quarter worth $403,034,000. Vanguard Group Inc. boosted its holdings in shares of ServiceNow by 1.8% during the 1st quarter. Vanguard Group Inc. now owns 18,450,570 shares of the information technology services provider’s stock worth $14,066,715,000 after buying an additional 331,797 shares during the period. AustralianSuper Pty Ltd bought a new stake in shares of ServiceNow during the 2nd quarter worth $218,786,000. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its holdings in shares of ServiceNow by 18.3% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 1,754,027 shares of the information technology services provider’s stock worth $1,239,198,000 after buying an additional 271,153 shares during the period. 87.18% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms recently issued reports on NOW. Guggenheim reaffirmed a “sell” rating and set a $640.00 price objective on shares of ServiceNow in a report on Monday, July 8th. Truist Financial increased their price target on shares of ServiceNow from $750.00 to $780.00 and gave the company a “hold” rating in a report on Thursday, July 25th. TD Cowen increased their price target on shares of ServiceNow from $870.00 to $900.00 and gave the company a “buy” rating in a report on Thursday, July 25th. BMO Capital Markets increased their price target on shares of ServiceNow from $830.00 to $860.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $900.00 price target on shares of ServiceNow in a report on Monday, September 9th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, ServiceNow has an average rating of “Moderate Buy” and an average price target of $855.44.

ServiceNow Trading Down 0.6 %

Shares of ServiceNow stock opened at $886.77 on Wednesday. The stock has a market capitalization of $181.79 billion, a P/E ratio of 94.84, a price-to-earnings-growth ratio of 5.25 and a beta of 0.98. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.17. The company has a 50-day simple moving average of $812.61 and a 200 day simple moving average of $768.20. ServiceNow, Inc. has a 12-month low of $527.24 and a 12-month high of $899.61.

ServiceNow (NYSE:NOW) last announced its earnings results on Wednesday, July 24th. The information technology services provider reported $3.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.85 by $0.28. The business had revenue of $2.63 billion during the quarter, compared to analysts’ expectations of $2.61 billion. ServiceNow had a net margin of 11.51% and a return on equity of 14.52%. The firm’s revenue for the quarter was up 22.2% on a year-over-year basis. During the same quarter last year, the company posted $0.77 EPS. Research analysts expect that ServiceNow, Inc. will post 6.78 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CFO Gina Mastantuono sold 1,800 shares of the stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $825.00, for a total transaction of $1,485,000.00. Following the completion of the sale, the chief financial officer now owns 11,490 shares in the company, valued at approximately $9,479,250. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, General Counsel Russell S. Elmer sold 1,937 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $779.81, for a total value of $1,510,491.97. Following the completion of the transaction, the general counsel now owns 6,736 shares in the company, valued at approximately $5,252,800.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Gina Mastantuono sold 1,800 shares of the stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $825.00, for a total value of $1,485,000.00. Following the completion of the transaction, the chief financial officer now owns 11,490 shares in the company, valued at $9,479,250. The disclosure for this sale can be found here. Insiders sold 6,914 shares of company stock worth $5,608,936 in the last quarter. 0.25% of the stock is owned by corporate 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.