Wrapmanager Inc. Lowers Stock Holdings in ServiceNow, Inc. (NYSE:NOW)

Wrapmanager Inc. reduced its stake in ServiceNow, Inc. (NYSE:NOW) by 20.9% during the 3rd quarter, HoldingsChannel reports. The firm owned 1,834 shares of the information technology services provider’s stock after selling 486 shares during the period. Wrapmanager Inc.’s holdings in ServiceNow were worth $1,640,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently modified their holdings of NOW. Catalyst Financial Partners LLC boosted its stake in ServiceNow by 1.0% during the 3rd quarter. Catalyst Financial Partners LLC now owns 1,146 shares of the information technology services provider’s stock valued at $1,025,000 after purchasing an additional 11 shares in the last quarter. First Affirmative Financial Network lifted its position in shares of ServiceNow by 1.4% during the 3rd quarter. First Affirmative Financial Network now owns 895 shares of the information technology services provider’s stock valued at $801,000 after acquiring an additional 12 shares during the last quarter. Capital Advisors Ltd. LLC lifted its position in shares of ServiceNow by 14.6% during the 3rd quarter. Capital Advisors Ltd. LLC now owns 94 shares of the information technology services provider’s stock valued at $84,000 after acquiring an additional 12 shares during the last quarter. BluePointe Capital Management LLC lifted its position in shares of ServiceNow by 0.6% during the 3rd quarter. BluePointe Capital Management LLC now owns 2,014 shares of the information technology services provider’s stock valued at $1,801,000 after acquiring an additional 12 shares during the last quarter. Finally, Morling Financial Advisors LLC lifted its position in shares of ServiceNow by 2.5% during the 2nd quarter. Morling Financial Advisors LLC now owns 527 shares of the information technology services provider’s stock valued at $415,000 after acquiring an additional 13 shares during the last quarter. 87.18% of the stock is currently owned by hedge funds and other institutional investors.

ServiceNow Stock Down 0.7 %

NOW stock opened at $1,004.53 on Tuesday. ServiceNow, Inc. has a twelve month low of $637.99 and a twelve month high of $1,061.66. The company has a market cap of $206.93 billion, a PE ratio of 156.23, a price-to-earnings-growth ratio of 5.80 and a beta of 0.98. The business’s 50-day simple moving average is $935.45 and its 200 day simple moving average is $827.30. 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 (NYSE:NOW) last released 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. The business had revenue of $2.80 billion for the quarter, compared to the consensus estimate of $2.75 billion. ServiceNow had a return on equity of 16.03% and a net margin of 12.77%. The firm’s revenue for the quarter was up 22.2% compared to the same quarter last year. During the same period last year, the business earned $1.21 earnings per share. On average, research analysts anticipate that ServiceNow, Inc. will post 7.07 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Nicholas Tzitzon sold 1,857 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $829.68, for a total value of $1,540,715.76. Following the completion of the transaction, the insider now owns 3,649 shares in the company, valued at $3,027,502.32. The trade was a 33.73 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Jacqueline P. Canney sold 66 shares of the business’s stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $1,048.29, for a total transaction of $69,187.14. Following the completion of the transaction, the insider now owns 3,027 shares of the company’s stock, valued at $3,173,173.83. This trade represents a 2.13 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 5,231 shares of company stock worth $4,947,292 over the last quarter. Company insiders own 0.25% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on NOW. Stifel Nicolaus increased their target price on ServiceNow from $900.00 to $990.00 and gave the company a “buy” rating in a report on Thursday, October 24th. Needham & Company LLC increased their price objective on ServiceNow from $900.00 to $1,075.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. BMO Capital Markets increased their price objective on ServiceNow from $860.00 to $1,025.00 and gave the stock an “outperform” rating in a report on Thursday, October 10th. JPMorgan Chase & Co. increased their price objective on ServiceNow from $820.00 to $950.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th. Finally, Canaccord Genuity Group increased their price objective on ServiceNow from $850.00 to $1,000.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. One analyst has rated the stock with a sell rating, two have given a hold rating and twenty-six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $974.04.

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.