Farrell Financial LLC Has $393,000 Stock Holdings in ServiceNow, Inc. (NYSE:NOW)

Farrell Financial LLC lessened its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 5.1% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 371 shares of the information technology services provider’s stock after selling 20 shares during the quarter. Farrell Financial LLC’s holdings in ServiceNow were worth $393,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. EverSource Wealth Advisors LLC boosted its holdings in shares of ServiceNow by 5.8% during the second quarter. EverSource Wealth Advisors LLC now owns 815 shares of the information technology services provider’s stock worth $664,000 after acquiring an additional 45 shares during the period. Public Sector Pension Investment Board boosted its stake 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 period. Lombard Odier Asset Management Europe Ltd acquired a new position in ServiceNow in the 2nd quarter valued at $1,680,000. Resources Management Corp CT ADV lifted its holdings in shares of ServiceNow by 136.6% during the second 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 in the last quarter. Finally, Farallon Capital Management LLC boosted its position in shares of ServiceNow by 14.9% in the second quarter. Farallon Capital Management LLC now owns 454,050 shares of the information technology services provider’s stock valued at $357,188,000 after acquiring an additional 58,962 shares during the period. 87.18% of the stock is owned by institutional investors and hedge funds.

Insider Activity at ServiceNow

In related news, CEO William R. Mcdermott sold 12,271 shares of the company’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $997.67, for a total value of $12,242,408.57. Following the sale, the chief executive officer now directly owns 2,595 shares in the company, valued at $2,588,953.65. This represents a 82.54 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Jacqueline P. Canney sold 76 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $1,010.94, for a total transaction of $76,831.44. Following the transaction, 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. Insiders sold 20,731 shares of company stock worth $21,016,751 over the last three months. Company insiders own 0.25% of the company’s stock.

ServiceNow Stock Performance

ServiceNow stock opened at $1,097.53 on Wednesday. The business has a 50 day moving average of $1,070.37 and a 200-day moving average of $935.27. 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, Inc. has a 1 year low of $637.99 and a 1 year high of $1,157.90. The company has a market capitalization of $226.09 billion, a P/E ratio of 170.69, a P/E/G ratio of 4.85 and a beta of 0.99.

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, beating the consensus estimate of $3.46 by $0.26. The firm had revenue of $2.80 billion during the quarter, compared to the consensus estimate of $2.75 billion. ServiceNow had a net margin of 12.77% and a return on equity of 16.03%. The company’s revenue for the quarter was up 22.2% on a year-over-year basis. During the same quarter last year, the firm earned $1.21 earnings per share. On average, equities research analysts predict that ServiceNow, Inc. will post 7.06 earnings per share for the current year.

Analysts Set New Price Targets

NOW has been the subject of several analyst reports. TD Cowen lifted their price objective on shares of ServiceNow from $1,025.00 to $1,300.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. Sanford C. Bernstein increased their price target on ServiceNow from $906.00 to $913.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Scotiabank assumed coverage on ServiceNow in a report on Tuesday, November 19th. They issued a “sector outperform” rating and a $1,230.00 price objective for the company. Wells Fargo & Company increased their target price on ServiceNow from $1,150.00 to $1,250.00 and gave the stock an “overweight” rating in a report on Thursday, December 5th. Finally, Canaccord Genuity Group raised their price target on ServiceNow from $1,000.00 to $1,200.00 and gave the stock a “buy” rating in a research report on Friday, December 20th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-five have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $1,090.72.

About ServiceNow

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.