ServiceNow, Inc. (NYSE:NOW) Shares Sold by Rossmore Private Capital

Rossmore Private Capital trimmed its stake in ServiceNow, Inc. (NYSE:NOW) by 12.1% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 401 shares of the information technology services provider’s stock after selling 55 shares during the quarter. Rossmore Private Capital’s holdings in ServiceNow were worth $359,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of NOW. Creekmur Asset Management LLC purchased a new position in shares of ServiceNow during the first quarter valued at $25,000. Versant Capital Management Inc grew its holdings in shares of ServiceNow by 466.7% during the second quarter. Versant Capital Management Inc now owns 34 shares of the information technology services provider’s stock valued at $27,000 after buying an additional 28 shares in the last quarter. EntryPoint Capital LLC grew its holdings in shares of ServiceNow by 3,900.0% during the first quarter. EntryPoint Capital LLC now owns 40 shares of the information technology services provider’s stock valued at $30,000 after buying an additional 39 shares in the last quarter. Ridgewood Investments LLC acquired a new stake in ServiceNow during the second quarter valued at $32,000. Finally, DT Investment Partners LLC boosted its position in ServiceNow by 77.3% during the third quarter. DT Investment Partners LLC now owns 39 shares of the information technology services provider’s stock valued at $35,000 after purchasing an additional 17 shares during the last quarter. 87.18% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Jeffrey A. Miller sold 2,879 shares of the company’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $1,019.12, for a total value of $2,934,046.48. Following the sale, the director now directly owns 42,920 shares in the company, valued at approximately $43,740,630.40. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, Director Jeffrey A. Miller sold 2,879 shares of the company’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $1,019.12, for a total value of $2,934,046.48. Following the sale, the director now directly owns 42,920 shares in the company, valued at approximately $43,740,630.40. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Jacqueline P. Canney sold 76 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $1,010.94, for a total value of $76,831.44. Following the completion of the sale, the insider now owns 3,027 shares in the company, valued at approximately $3,060,115.38. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 5,359 shares of company stock worth $5,038,241. Company insiders own 0.25% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on NOW. BMO Capital Markets lifted their price objective on ServiceNow from $860.00 to $1,025.00 and gave the company an “outperform” rating in a research report on Thursday, October 10th. JMP Securities boosted their price target on ServiceNow from $850.00 to $1,000.00 and gave the stock a “market outperform” rating in a research report on Thursday, October 17th. Canaccord Genuity Group boosted their price target on ServiceNow from $850.00 to $1,000.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Royal Bank of Canada boosted their price target on ServiceNow from $985.00 to $1,045.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Finally, Stifel Nicolaus boosted their price target on ServiceNow from $900.00 to $990.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, ServiceNow currently has a consensus rating of “Moderate Buy” and an average price target of $974.04.

ServiceNow Trading Up 1.2 %

Shares of NOW opened at $1,048.29 on Wednesday. ServiceNow, Inc. has a 12-month low of $632.25 and a 12-month high of $1,053.26. 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 capitalization of $215.95 billion, a price-to-earnings ratio of 163.03, a P/E/G ratio of 5.95 and a beta of 0.98. The stock’s 50-day moving average price is $920.45 and its 200 day moving average price is $818.12.

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, beating the consensus estimate of $3.46 by $0.26. ServiceNow had a return on equity of 16.03% and a net margin of 12.77%. The firm had revenue of $2.80 billion for the quarter, compared to analyst estimates of $2.75 billion. During the same period in the previous year, the company posted $1.21 earnings per share. The company’s quarterly revenue was up 22.2% compared to the same quarter last year. As a group, research analysts predict that ServiceNow, Inc. will post 7.07 earnings per share for the current year.

About ServiceNow

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.