Angeles Investment Advisors LLC Decreases Stake in ServiceNow, Inc. (NYSE:NOW)

Angeles Investment Advisors LLC reduced its holdings in ServiceNow, Inc. (NYSE:NOW) by 8.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,475 shares of the information technology services provider’s stock after selling 138 shares during the period. Angeles Investment Advisors LLC’s holdings in ServiceNow were worth $1,319,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Quent Capital LLC increased its position in shares of ServiceNow by 4.1% during the first quarter. Quent Capital LLC now owns 770 shares of the information technology services provider’s stock valued at $587,000 after acquiring an additional 30 shares during the last quarter. Avantax Advisory Services Inc. increased its position in shares of ServiceNow by 20.8% during the first quarter. Avantax Advisory Services Inc. now owns 4,210 shares of the information technology services provider’s stock valued at $3,209,000 after acquiring an additional 724 shares during the last quarter. Dearborn Partners LLC acquired a new stake in shares of ServiceNow during the first quarter valued at about $313,000. D Orazio & Associates Inc. increased its position in shares of ServiceNow by 8.6% during the first quarter. D Orazio & Associates Inc. now owns 340 shares of the information technology services provider’s stock valued at $259,000 after acquiring an additional 27 shares during the last quarter. Finally, SageView Advisory Group LLC increased its position in shares of ServiceNow by 2,117.2% during the first quarter. SageView Advisory Group LLC now owns 64,609 shares of the information technology services provider’s stock valued at $49,258,000 after acquiring an additional 61,695 shares during the last quarter. 87.18% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have commented on NOW shares. Oppenheimer boosted their price target on shares of ServiceNow from $825.00 to $1,020.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Morgan Stanley downgraded shares of ServiceNow from an “overweight” rating to an “equal weight” rating and boosted their price objective for the stock from $900.00 to $960.00 in a research report on Monday, October 21st. BMO Capital Markets boosted their price objective on shares of ServiceNow from $860.00 to $1,025.00 and gave the stock an “outperform” rating in a research report on Thursday, October 10th. JMP Securities upped their price target on shares of ServiceNow from $850.00 to $1,000.00 and gave the company a “market outperform” rating in a research report on Thursday, October 17th. Finally, KeyCorp upped their price target on shares of ServiceNow from $1,020.00 to $1,040.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th. One analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-six have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $974.04.

Insider Buying and Selling at ServiceNow

In other ServiceNow news, Director Jeffrey A. Miller sold 2,879 shares of the firm’s stock in a transaction 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 trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, Director Jeffrey A. Miller sold 2,879 shares of ServiceNow stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $1,019.12, for a total transaction of $2,934,046.48. Following the sale, the director now directly owns 42,920 shares in the company, valued at $43,740,630.40. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jacqueline P. Canney sold 76 shares of ServiceNow stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $1,010.94, for a total transaction of $76,831.44. Following 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. Over the last three months, insiders have sold 5,359 shares of company stock worth $5,038,241. 0.25% of the stock is owned by insiders.

ServiceNow Stock Down 0.0 %

Shares of NOW stock traded down $0.44 during mid-day trading on Wednesday, reaching $1,047.85. 57,284 shares of the company were exchanged, compared to its average volume of 1,275,007. ServiceNow, Inc. has a fifty-two week low of $637.99 and a fifty-two week high of $1,053.26. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.13 and a current ratio of 1.13. The company has a market capitalization of $215.86 billion, a P/E ratio of 163.03, a P/E/G ratio of 5.95 and a beta of 0.98. The business’s 50 day simple moving average is $920.45 and its 200 day simple moving average is $818.12.

ServiceNow (NYSE:NOW) last released its quarterly earnings data on Wednesday, October 23rd. The information technology services provider reported $3.72 EPS for the quarter, topping analysts’ consensus estimates of $3.46 by $0.26. The firm had revenue of $2.80 billion during the quarter, compared to the consensus estimate of $2.75 billion. ServiceNow had a net margin of 12.77% and a return on equity of 16.03%. The firm’s revenue was up 22.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.21 earnings per share. 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.