Westover Capital Advisors LLC Has $3.81 Million Stock Holdings in ServiceNow, Inc. (NYSE:NOW)

Westover Capital Advisors LLC lessened its holdings in ServiceNow, Inc. (NYSE:NOW) by 8.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,840 shares of the information technology services provider’s stock after selling 440 shares during the period. ServiceNow comprises approximately 1.0% of Westover Capital Advisors LLC’s portfolio, making the stock its 23rd biggest position. Westover Capital Advisors LLC’s holdings in ServiceNow were worth $3,807,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Creekmur Asset Management LLC acquired a new stake in shares of ServiceNow in the first quarter worth $25,000. Versant Capital Management Inc raised its holdings in shares of ServiceNow by 466.7% during the second quarter. Versant Capital Management Inc now owns 34 shares of the information technology services provider’s stock worth $27,000 after acquiring an additional 28 shares in the last quarter. University of Texas Texas AM Investment Managment Co. purchased a new stake in shares of ServiceNow during the fourth quarter worth $29,000. EntryPoint Capital LLC raised its holdings in shares of ServiceNow by 3,900.0% during the first quarter. EntryPoint Capital LLC now owns 40 shares of the information technology services provider’s stock worth $30,000 after acquiring an additional 39 shares in the last quarter. Finally, Ridgewood Investments LLC purchased a new stake in shares of ServiceNow during the second quarter worth $32,000. Institutional investors and hedge funds own 87.18% of the company’s stock.

ServiceNow Stock Down 0.8 %

NYSE NOW opened at $878.95 on Friday. The company has a market capitalization of $181.06 billion, a price-to-earnings ratio of 94.01, a PEG ratio of 5.25 and a beta of 0.98. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.17. ServiceNow, Inc. has a 1-year low of $527.24 and a 1-year high of $889.52. The stock’s 50 day moving average is $807.22 and its two-hundred day moving average is $766.50.

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

Analyst Upgrades and Downgrades

Several analysts recently issued reports on NOW shares. Needham & Company LLC reiterated a “buy” rating and set a $900.00 price objective on shares of ServiceNow in a report on Monday, September 9th. TD Cowen increased their price objective on ServiceNow from $870.00 to $900.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. Robert W. Baird raised their target price on ServiceNow from $885.00 to $900.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Citigroup raised their target price on ServiceNow from $909.00 to $911.00 and gave the company a “buy” rating in a report on Wednesday, July 17th. Finally, Piper Sandler raised their target price on ServiceNow from $830.00 to $850.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, ServiceNow currently has an average rating of “Moderate Buy” and a consensus price target of $849.62.

Insider Buying and Selling

In other ServiceNow news, General Counsel Russell S. Elmer sold 1,937 shares of the company’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $779.81, for a total transaction of $1,510,491.97. Following the transaction, the general counsel now owns 6,736 shares of the company’s stock, valued at approximately $5,252,800.16. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, General Counsel Russell S. Elmer sold 1,937 shares of the stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $779.81, for a total value of $1,510,491.97. Following the transaction, the general counsel now owns 6,736 shares of the company’s stock, valued at approximately $5,252,800.16. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Nicholas Tzitzon sold 1,857 shares of the stock in a transaction 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 directly owns 3,649 shares in the company, valued at approximately $3,027,502.32. The disclosure for this sale can be found here. Insiders have sold a total of 6,914 shares of company stock worth $5,608,936 in the last three months. Insiders own 0.25% of the company’s stock.

ServiceNow Company 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.