ServiceNow, Inc. (NYSE:NOW) Shares Sold by Luts & Greenleigh Group Inc.

Luts & Greenleigh Group Inc. lessened its stake in ServiceNow, Inc. (NYSE:NOW) by 5.3% in the 4th quarter, Holdings Channel.com reports. The firm owned 269 shares of the information technology services provider’s stock after selling 15 shares during the period. Luts & Greenleigh Group Inc.’s holdings in ServiceNow were worth $285,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in NOW. EverSource Wealth Advisors LLC boosted its position in shares of ServiceNow by 5.8% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 815 shares of the information technology services provider’s stock valued at $664,000 after acquiring an additional 45 shares during the last quarter. Public Sector Pension Investment Board boosted its holdings in ServiceNow by 74.4% in the 2nd quarter. Public Sector Pension Investment Board now owns 7,884 shares of the information technology services provider’s stock valued at $6,202,000 after purchasing an additional 3,364 shares during the last quarter. Lombard Odier Asset Management Europe Ltd purchased a new stake in shares of ServiceNow in the 2nd quarter valued at approximately $1,680,000. Resources Management Corp CT ADV increased its holdings in shares of ServiceNow by 136.6% during the 2nd quarter. Resources Management Corp CT ADV now owns 1,266 shares of the information technology services provider’s stock worth $996,000 after buying an additional 731 shares during the last quarter. Finally, Farallon Capital Management LLC raised its position in shares of ServiceNow by 14.9% during the 2nd quarter. Farallon Capital Management LLC now owns 454,050 shares of the information technology services provider’s stock valued at $357,188,000 after buying an additional 58,962 shares during the period. Hedge funds and other institutional investors own 87.18% of the company’s stock.

ServiceNow Stock Performance

Shares of NOW opened at $1,097.53 on Wednesday. The company’s 50 day simple moving average is $1,071.36 and its 200-day simple moving average is $937.32. The firm has a market cap of $226.09 billion, a PE ratio of 170.69, a price-to-earnings-growth ratio of 4.85 and a beta of 0.99. ServiceNow, Inc. has a 12-month low of $637.99 and a 12-month high of $1,157.90. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.16.

ServiceNow (NYSE:NOW) last released its quarterly earnings results on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.46 by $0.26. The firm had revenue of $2.80 billion for the quarter, compared to analyst estimates of $2.75 billion. ServiceNow had a return on equity of 16.03% and a net margin of 12.77%. The business’s revenue was up 22.2% on a year-over-year basis. During the same quarter last year, the company posted $1.21 earnings per share. As a group, equities analysts predict that ServiceNow, Inc. will post 7.06 EPS for the current year.

Insiders Place Their Bets

In other news, CEO William R. Mcdermott sold 12,271 shares of the business’s stock in a transaction dated 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 transaction, the chief executive officer now directly owns 2,595 shares in the company, valued at $2,588,953.65. The trade was a 82.54 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Jacqueline P. Canney sold 76 shares of the firm’s 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 completion of the sale, 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 position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 20,731 shares of company stock valued at $21,016,751. 0.25% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

NOW has been the subject of several analyst reports. KeyCorp cut ServiceNow from an “overweight” rating to a “sector weight” rating in a research note on Friday, December 13th. Raymond James began coverage on ServiceNow in a research report on Tuesday, December 24th. They set an “outperform” rating and a $1,200.00 price objective for the company. Stifel Nicolaus upped their target price on shares of ServiceNow from $900.00 to $990.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. JMP Securities lifted their price target on shares of ServiceNow from $1,000.00 to $1,300.00 and gave the company a “market outperform” rating in a research report on Tuesday. Finally, Mizuho boosted their price target on shares of ServiceNow from $1,070.00 to $1,210.00 and gave the company an “outperform” rating in a research note on Friday, December 13th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-five have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, ServiceNow presently has an average rating of “Moderate Buy” and a consensus price target of $1,090.72.

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.