Stablepoint Partners LLC Cuts Holdings in ServiceNow, Inc. (NYSE:NOW)

Stablepoint Partners LLC reduced its position in shares of ServiceNow, Inc. (NYSE:NOW) by 2.9% during the 4th quarter, HoldingsChannel reports. The fund owned 1,506 shares of the information technology services provider’s stock after selling 45 shares during the period. Stablepoint Partners LLC’s holdings in ServiceNow were worth $1,597,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of the business. Truvestments Capital LLC purchased a new position in ServiceNow during the third quarter worth approximately $30,000. DT Investment Partners LLC lifted its position in shares of ServiceNow by 77.3% during the 3rd quarter. DT Investment Partners LLC now owns 39 shares of the information technology services provider’s stock valued at $35,000 after buying an additional 17 shares in the last quarter. Oakworth Capital Inc. grew its stake in ServiceNow by 46.7% in the 3rd quarter. Oakworth Capital Inc. now owns 44 shares of the information technology services provider’s stock valued at $39,000 after acquiring an additional 14 shares during the period. Dunhill Financial LLC increased its holdings in ServiceNow by 70.0% in the 3rd quarter. Dunhill Financial LLC now owns 51 shares of the information technology services provider’s stock worth $46,000 after acquiring an additional 21 shares in the last quarter. Finally, Vestor Capital LLC acquired a new position in ServiceNow during the third quarter worth $48,000. 87.18% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on NOW shares. Jefferies Financial Group boosted their target price on shares of ServiceNow from $1,100.00 to $1,250.00 and gave the stock a “buy” rating in a research note on Monday, December 2nd. Barclays boosted their price objective on ServiceNow from $980.00 to $1,000.00 and gave the stock an “overweight” rating in a research note on Thursday, October 24th. The Goldman Sachs Group increased their target price on ServiceNow from $1,050.00 to $1,200.00 and gave the company a “buy” rating in a report on Friday, January 10th. Royal Bank of Canada lifted their price target on ServiceNow from $1,045.00 to $1,210.00 and gave the stock an “outperform” rating in a research note on Friday, January 3rd. Finally, Citigroup increased their price objective on ServiceNow from $1,068.00 to $1,071.00 and gave the company a “buy” rating in a research note on Friday, October 25th. One 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 given a strong buy rating to the company. According to MarketBeat, ServiceNow has an average rating of “Moderate Buy” and a consensus target price of $1,093.34.

Insider Transactions at ServiceNow

In other news, insider Jacqueline P. Canney sold 455 shares of the stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $1,058.54, for a total transaction of $481,635.70. Following the sale, the insider now owns 3,027 shares of the company’s stock, valued at approximately $3,204,200.58. This represents a 13.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jeffrey A. Miller sold 2,879 shares of ServiceNow stock in a transaction that occurred on 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 completion of the transaction, the director now owns 42,920 shares of the company’s stock, valued at $43,740,630.40. This trade represents a 6.29 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 20,731 shares of company stock worth $21,016,751 over the last ninety days. Company insiders own 0.25% of the company’s stock.

ServiceNow Price Performance

Shares of NOW opened at $1,124.64 on Friday. The firm has a 50-day simple moving average of $1,077.07 and a two-hundred day simple moving average of $942.47. The stock has a market cap of $231.68 billion, a PE ratio of 174.91, a P/E/G ratio of 5.11 and a beta of 0.99. ServiceNow, Inc. has a 1-year low of $637.99 and a 1-year high of $1,157.90. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.13 and a quick ratio of 1.13.

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

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.