D.B. Root & Company LLC Lowers Position in ServiceNow, Inc. (NYSE:NOW)

D.B. Root & Company LLC cut its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 14.8% in the 4th quarter, HoldingsChannel reports. The firm owned 748 shares of the information technology services provider’s stock after selling 130 shares during the period. D.B. Root & Company LLC’s holdings in ServiceNow were worth $793,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the stock. World Investment Advisors LLC lifted its holdings in shares of ServiceNow by 499,668.1% during the 3rd quarter. World Investment Advisors LLC now owns 4,772,785 shares of the information technology services provider’s stock worth $4,268,731,000 after acquiring an additional 4,771,830 shares during the last quarter. International Assets Investment Management LLC lifted its stake in ServiceNow by 89,137.0% during the third quarter. International Assets Investment Management LLC now owns 1,185,067 shares of the information technology services provider’s stock worth $1,059,912,000 after purchasing an additional 1,183,739 shares during the last quarter. Bank of Montreal Can boosted its holdings in shares of ServiceNow by 216.6% in the 3rd quarter. Bank of Montreal Can now owns 1,367,875 shares of the information technology services provider’s stock worth $1,206,178,000 after purchasing an additional 935,848 shares in the last quarter. Wellington Management Group LLP increased its position in shares of ServiceNow by 24.1% during the 3rd quarter. Wellington Management Group LLP now owns 3,169,531 shares of the information technology services provider’s stock valued at $2,834,797,000 after purchasing an additional 615,797 shares during the last quarter. Finally, FMR LLC raised its holdings in shares of ServiceNow by 9.9% during the 3rd quarter. FMR LLC now owns 5,606,394 shares of the information technology services provider’s stock valued at $5,014,302,000 after buying an additional 502,845 shares in the last quarter. Institutional investors own 87.18% of the company’s stock.

ServiceNow Stock Up 2.6 %

Shares of ServiceNow stock opened at $1,125.39 on Thursday. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.16. ServiceNow, Inc. has a twelve month low of $637.99 and a twelve month high of $1,157.90. The company has a market cap of $231.83 billion, a price-to-earnings ratio of 175.02, a price-to-earnings-growth ratio of 4.98 and a beta of 0.99. The company’s 50 day moving average is $1,072.95 and its 200 day moving average is $938.64.

ServiceNow (NYSE:NOW) last released its quarterly earnings results on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share 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 analysts’ expectations of $2.75 billion. During the same period in the prior year, the firm earned $1.21 EPS. The company’s revenue was up 22.2% compared to the same quarter last year. Research analysts anticipate that ServiceNow, Inc. will post 7.04 EPS for the current year.

Insider Buying and Selling

In other ServiceNow news, CEO William R. Mcdermott sold 12,271 shares of the firm’s stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $997.67, for a total transaction of $12,242,408.57. Following the sale, the chief executive officer now owns 2,595 shares in the company, valued at approximately $2,588,953.65. This trade represents a 82.54 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jacqueline P. Canney sold 76 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $1,010.94, for a total transaction of $76,831.44. Following the completion of the transaction, the insider now owns 3,027 shares of the company’s stock, valued at approximately $3,060,115.38. The trade was a 2.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 20,731 shares of company stock valued at $21,016,751. 0.25% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several analysts have issued reports on NOW shares. Piper Sandler upped their target price on ServiceNow from $1,000.00 to $1,200.00 and gave the stock an “overweight” rating in a research note on Monday, January 6th. Guggenheim reaffirmed a “sell” rating and set a $716.00 target price on shares of ServiceNow in a report on Wednesday. Robert W. Baird boosted their price target on shares of ServiceNow from $900.00 to $975.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Morgan Stanley cut ServiceNow from an “overweight” rating to an “equal weight” rating and raised their price objective for the company from $900.00 to $960.00 in a research note on Monday, October 21st. Finally, Needham & Company LLC boosted their target price on ServiceNow from $1,075.00 to $1,150.00 and gave the company a “buy” rating in a research note on Monday, November 25th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-five have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $1,093.34.

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.