Norden Group LLC Decreases Stock Holdings in ServiceNow, Inc. (NYSE:NOW)

Norden Group LLC trimmed its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 13.3% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,674 shares of the information technology services provider’s stock after selling 716 shares during the period. Norden Group LLC’s holdings in ServiceNow were worth $3,676,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Sepio Capital LP increased its holdings in ServiceNow by 7.8% during the fourth quarter. Sepio Capital LP now owns 1,171 shares of the information technology services provider’s stock valued at $827,000 after buying an additional 85 shares during the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management bought a new position in shares of ServiceNow in the fourth quarter worth approximately $203,000. Wealthspire Advisors LLC boosted its position in shares of ServiceNow by 80.0% in the fourth quarter. Wealthspire Advisors LLC now owns 1,627 shares of the information technology services provider’s stock worth $1,149,000 after purchasing an additional 723 shares during the period. Montag A & Associates Inc. boosted its position in shares of ServiceNow by 67.9% in the fourth quarter. Montag A & Associates Inc. now owns 235 shares of the information technology services provider’s stock worth $166,000 after purchasing an additional 95 shares during the period. Finally, Smithfield Trust Co boosted its position in shares of ServiceNow by 36.4% during the fourth quarter. Smithfield Trust Co now owns 981 shares of the information technology services provider’s stock worth $691,000 after acquiring an additional 262 shares during the last quarter. 87.18% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Nicholas Tzitzon sold 1,857 shares of the firm’s stock in a transaction dated 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 transaction, the insider now owns 3,649 shares of the company’s stock, valued at approximately $3,027,502.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, General Counsel Russell S. Elmer sold 1,937 shares of the firm’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $779.81, for a total value of $1,510,491.97. Following the sale, the general counsel now directly owns 6,736 shares in the company, valued at approximately $5,252,800.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Nicholas Tzitzon sold 1,857 shares of the firm’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $829.68, for a total transaction of $1,540,715.76. Following the completion of the sale, the insider now owns 3,649 shares in the company, valued at $3,027,502.32. The disclosure for this sale can be found here. Insiders have sold 6,914 shares of company stock valued at $5,608,936 in the last 90 days. Company insiders own 0.25% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on NOW. Needham & Company LLC restated a “buy” rating and set a $900.00 target price on shares of ServiceNow in a research report on Thursday, July 25th. Guggenheim restated a “sell” rating and set a $640.00 target price on shares of ServiceNow in a research report on Monday, July 8th. BMO Capital Markets upped their target price on shares of ServiceNow from $830.00 to $860.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Stifel Nicolaus upped their target price on shares of ServiceNow from $820.00 to $900.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Finally, Wells Fargo & Company upped their target price on shares of ServiceNow from $920.00 to $935.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. One analyst has rated the stock with a sell rating, two have given a hold rating and twenty-five have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $849.62.

ServiceNow Trading Down 1.2 %

NOW stock traded down $10.36 during trading on Friday, hitting $825.04. The company had a trading volume of 1,070,842 shares, compared to its average volume of 1,286,472. The firm has a market capitalization of $169.13 billion, a P/E ratio of 88.28, a PEG ratio of 5.13 and a beta of 0.99. ServiceNow, Inc. has a 52-week low of $527.24 and a 52-week high of $863.85. The company has a 50 day simple moving average of $799.33 and a 200-day simple moving average of $762.78. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.17.

ServiceNow (NYSE:NOW) last posted its quarterly earnings results on Wednesday, July 24th. The information technology services provider reported $3.13 EPS for the quarter, topping the consensus estimate of $2.85 by $0.28. The company had revenue of $2.63 billion for the quarter, compared to the consensus estimate of $2.61 billion. ServiceNow had a net margin of 11.51% and a return on equity of 14.52%. The firm’s revenue was up 22.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.77 EPS. As a group, research analysts forecast that ServiceNow, Inc. will post 6.78 earnings per share for the current fiscal 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.