Hantz Financial Services Inc. Sells 6,949 Shares of ServiceNow, Inc. (NYSE:NOW)

Hantz Financial Services Inc. lowered its position in ServiceNow, Inc. (NYSE:NOW) by 12.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 47,629 shares of the information technology services provider’s stock after selling 6,949 shares during the period. ServiceNow accounts for 0.8% of Hantz Financial Services Inc.’s portfolio, making the stock its 23rd largest holding. Hantz Financial Services Inc.’s holdings in ServiceNow were worth $42,599,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. Avidian Wealth Enterprises LLC raised its position in ServiceNow by 39.4% in the 3rd quarter. Avidian Wealth Enterprises LLC now owns 488 shares of the information technology services provider’s stock valued at $436,000 after purchasing an additional 138 shares during the last quarter. Venturi Wealth Management LLC raised its holdings in shares of ServiceNow by 36.4% in the third quarter. Venturi Wealth Management LLC now owns 2,868 shares of the information technology services provider’s stock valued at $2,565,000 after buying an additional 765 shares during the last quarter. AXA S.A. raised its holdings in shares of ServiceNow by 1.1% in the second quarter. AXA S.A. now owns 387,344 shares of the information technology services provider’s stock valued at $304,712,000 after buying an additional 4,271 shares during the last quarter. HWG Holdings LP acquired a new position in ServiceNow during the 2nd quarter worth about $2,679,000. Finally, Brookstone Capital Management grew its holdings in ServiceNow by 25.5% during the 2nd quarter. Brookstone Capital Management now owns 14,394 shares of the information technology services provider’s stock worth $10,595,000 after acquiring an additional 2,928 shares during the last quarter. Institutional investors own 87.18% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. JMP Securities boosted their target price on shares of ServiceNow from $850.00 to $1,000.00 and gave the stock a “market outperform” rating in a research note on Thursday, October 17th. Piper Sandler boosted their price objective on shares of ServiceNow from $850.00 to $1,000.00 and gave the stock an “overweight” rating in a research report on Thursday, October 24th. Mizuho increased their price objective on ServiceNow from $980.00 to $1,070.00 and gave the company an “outperform” rating in a research report on Tuesday, November 19th. Barclays lifted their target price on ServiceNow from $980.00 to $1,000.00 and gave the company an “overweight” rating in a research note on Thursday, October 24th. Finally, Canaccord Genuity Group upped their price target on ServiceNow from $850.00 to $1,000.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty-six have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $989.07.

Insider Activity at ServiceNow

In other news, Director Anita M. Sands sold 2,229 shares of the stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $1,064.60, for a total transaction of $2,372,993.40. Following the completion of the transaction, the director now directly owns 11,000 shares in the company, valued at $11,710,600. This represents a 16.85 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Jacqueline P. Canney sold 353 shares of ServiceNow stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $924.96, for a total value of $326,510.88. Following the completion of the sale, the insider now directly owns 3,027 shares in the company, valued at approximately $2,799,853.92. This represents a 10.44 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 20,329 shares of company stock valued at $20,547,241. 0.25% of the stock is owned by insiders.

ServiceNow Stock Down 2.7 %

Shares of ServiceNow stock traded down $28.67 on Thursday, hitting $1,041.40. The company had a trading volume of 977,141 shares, compared to its average volume of 1,284,065. The stock has a 50-day moving average of $958.40 and a 200-day moving average of $842.41. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.13 and a quick ratio of 1.13. ServiceNow, Inc. has a twelve month low of $637.99 and a twelve month high of $1,072.84. The firm has a market capitalization of $214.53 billion, a P/E ratio of 161.96, a P/E/G ratio of 6.04 and a beta of 0.98.

ServiceNow (NYSE:NOW) last announced its earnings results on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share for the quarter, topping analysts’ consensus estimates of $3.46 by $0.26. ServiceNow had a net margin of 12.77% and a return on equity of 16.03%. The firm had revenue of $2.80 billion during the quarter, compared to analyst estimates of $2.75 billion. During the same period in the prior year, the business earned $1.21 EPS. The company’s revenue for the quarter was up 22.2% compared to the same quarter last year. Research analysts predict that ServiceNow, Inc. will post 7.07 earnings per share for the current year.

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.