Stephens Inc. AR Sells 1,400 Shares of ServiceNow, Inc. (NYSE:NOW)

Stephens Inc. AR trimmed its holdings in ServiceNow, Inc. (NYSE:NOW) by 15.1% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,874 shares of the information technology services provider’s stock after selling 1,400 shares during the quarter. Stephens Inc. AR’s holdings in ServiceNow were worth $7,042,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in NOW. M&G Plc bought a new position in shares of ServiceNow during the 1st quarter valued at approximately $11,030,000. AXA S.A. boosted its position in shares of ServiceNow by 1.1% during the 2nd quarter. AXA S.A. now owns 387,344 shares of the information technology services provider’s stock valued at $304,712,000 after acquiring an additional 4,271 shares during the last quarter. HWG Holdings LP bought a new position in shares of ServiceNow during the 2nd quarter valued at approximately $2,679,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its position in shares of ServiceNow by 375.6% during the 1st quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 1,365 shares of the information technology services provider’s stock valued at $1,041,000 after acquiring an additional 1,078 shares during the last quarter. Finally, Wealthspire Advisors LLC boosted its position in shares of ServiceNow by 3.4% during the 1st quarter. Wealthspire Advisors LLC now owns 1,683 shares of the information technology services provider’s stock valued at $1,283,000 after acquiring an additional 56 shares during the last quarter. 87.18% of the stock is currently owned by institutional investors.

ServiceNow Stock Performance

Shares of ServiceNow stock opened at $943.41 on Friday. The firm has a market cap of $194.34 billion, a P/E ratio of 146.72, a P/E/G ratio of 5.45 and a beta of 0.99. 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, Inc. has a 12 month low of $592.48 and a 12 month high of $979.78. The stock’s fifty day moving average price is $896.89 and its 200-day moving average price is $803.60.

ServiceNow (NYSE:NOW) last announced its quarterly earnings results on Wednesday, October 23rd. The information technology services provider reported $3.72 EPS for the quarter, beating the consensus estimate of $3.46 by $0.26. ServiceNow had a return on equity of 16.03% and a net margin of 12.77%. The firm had revenue of $2.80 billion for the quarter, compared to analyst estimates of $2.75 billion. During the same quarter last year, the firm posted $1.21 earnings per share. The business’s revenue for the quarter was up 22.2% on a year-over-year basis. On average, equities research analysts expect that ServiceNow, Inc. will post 7.07 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have recently commented on NOW shares. Robert W. Baird increased their target price on ServiceNow from $900.00 to $975.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Guggenheim restated a “sell” rating and set a $640.00 price target on shares of ServiceNow in a report on Monday, July 8th. Mizuho increased their price target on ServiceNow from $850.00 to $980.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. Jefferies Financial Group increased their price target on ServiceNow from $900.00 to $1,100.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Finally, Wells Fargo & Company increased their price target on ServiceNow from $1,025.00 to $1,050.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and twenty-five have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $970.33.

Insider Activity at ServiceNow

In related news, insider Jacqueline P. Canney sold 94 shares of the firm’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $825.92, for a total transaction of $77,636.48. Following the sale, the insider now owns 4,019 shares of the company’s stock, valued at $3,319,372.48. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, insider Jacqueline P. Canney sold 94 shares of the firm’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $825.92, for a total transaction of $77,636.48. Following the sale, the insider now owns 4,019 shares of the company’s stock, valued at $3,319,372.48. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Jacqueline P. Canney sold 804 shares of the firm’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $812.00, for a total value of $652,848.00. Following the sale, the insider now directly owns 3,027 shares in the company, valued at approximately $2,457,924. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 3,530 shares of company stock valued at $2,939,955 over the last quarter. 0.25% of the stock is owned by corporate insiders.

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.