Paradiem LLC Sells 211 Shares of ServiceNow, Inc. (NYSE:NOW)

Paradiem LLC lessened its position in ServiceNow, Inc. (NYSE:NOW) by 3.4% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 6,039 shares of the information technology services provider’s stock after selling 211 shares during the period. ServiceNow accounts for 1.7% of Paradiem LLC’s investment portfolio, making the stock its 23rd biggest position. Paradiem LLC’s holdings in ServiceNow were worth $6,402,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Truvestments Capital LLC bought a new stake in ServiceNow in the 3rd quarter worth $30,000. DT Investment Partners LLC boosted its stake 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 purchasing an additional 17 shares in the last quarter. Semmax Financial Advisors Inc. bought a new stake in shares of ServiceNow during the 2nd quarter valued at about $39,000. Oakworth Capital Inc. boosted its stake in shares of ServiceNow by 46.7% during the 3rd quarter. Oakworth Capital Inc. now owns 44 shares of the information technology services provider’s stock valued at $39,000 after purchasing an additional 14 shares in the last quarter. Finally, Dunhill Financial LLC boosted its stake in shares of ServiceNow by 70.0% during the 3rd quarter. Dunhill Financial LLC now owns 51 shares of the information technology services provider’s stock valued at $46,000 after purchasing an additional 21 shares in the last quarter. Institutional investors own 87.18% of the company’s stock.

Wall Street Analysts Forecast Growth

NOW has been the topic of a number of research reports. BMO Capital Markets lifted their target price on shares of ServiceNow from $860.00 to $1,025.00 and gave the company an “outperform” rating in a research note on Thursday, October 10th. Canaccord Genuity Group lifted their target price on shares of ServiceNow from $1,000.00 to $1,200.00 and gave the company a “buy” rating in a research note on Friday, December 20th. Jefferies Financial Group boosted their price objective 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. Stifel Nicolaus boosted their price objective on shares of ServiceNow from $900.00 to $990.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Finally, KeyCorp lowered shares of ServiceNow from an “overweight” rating to a “sector weight” rating in a research note on Friday, December 13th. One research analyst has rated the stock with a sell rating, three have given a hold rating, twenty-five have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $1,093.34.

Insider Activity

In other ServiceNow news, insider Jacqueline P. Canney sold 76 shares of the company’s stock in a transaction that occurred on 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 directly owns 3,027 shares of the company’s stock, valued at approximately $3,060,115.38. This represents a 2.45 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Russell S. Elmer sold 81 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $1,016.54, for a total transaction of $82,339.74. Following the sale, the general counsel now directly owns 6,843 shares of the company’s stock, valued at approximately $6,956,183.22. This represents a 1.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 20,731 shares of company stock valued at $21,016,751 over the last three months. Insiders own 0.25% of the company’s stock.

ServiceNow Stock Up 2.6 %

NOW opened at $1,125.39 on Thursday. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.16. The firm has a 50 day moving average price of $1,071.36 and a 200-day moving average price of $937.32. ServiceNow, Inc. has a twelve month low of $637.99 and a twelve month high of $1,157.90. The stock has a market capitalization of $231.83 billion, a price-to-earnings ratio of 175.02, a PEG ratio of 4.98 and a beta of 0.99.

ServiceNow (NYSE:NOW) last released its quarterly earnings data 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 analysts’ expectations of $2.75 billion. During the same period in the previous year, the company earned $1.21 earnings per share. The firm’s quarterly revenue was up 22.2% on a year-over-year basis. Equities research analysts forecast that ServiceNow, Inc. will post 7.04 earnings per share for the current year.

ServiceNow 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.