Sax Wealth Advisors LLC Trims Stake in ServiceNow, Inc. (NYSE:NOW)

Sax Wealth Advisors LLC lessened its position in ServiceNow, Inc. (NYSE:NOW) by 6.8% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 579 shares of the information technology services provider’s stock after selling 42 shares during the quarter. Sax Wealth Advisors LLC’s holdings in ServiceNow were worth $518,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the company. Creekmur Asset Management LLC purchased a new stake in ServiceNow in the first quarter worth about $25,000. Versant Capital Management Inc grew its stake in shares of ServiceNow by 466.7% in the second quarter. Versant Capital Management Inc now owns 34 shares of the information technology services provider’s stock worth $27,000 after acquiring an additional 28 shares during the last quarter. EntryPoint Capital LLC increased its holdings in shares of ServiceNow by 3,900.0% during the first quarter. EntryPoint Capital LLC now owns 40 shares of the information technology services provider’s stock valued at $30,000 after acquiring an additional 39 shares in the last quarter. Ridgewood Investments LLC purchased a new position in shares of ServiceNow in the 2nd quarter worth about $32,000. Finally, Semmax Financial Advisors Inc. bought a new position in ServiceNow in the 2nd quarter worth about $39,000. 87.18% of the stock is currently owned by institutional investors.

ServiceNow Price Performance

NYSE:NOW opened at $921.80 on Friday. The business’s 50-day simple moving average is $874.61 and its two-hundred day simple moving average is $791.74. ServiceNow, Inc. has a 52 week low of $527.24 and a 52 week high of $949.59. The stock has a market cap of $188.97 billion, a PE ratio of 98.59, a P/E/G ratio of 5.63 and a beta of 0.99. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.17.

ServiceNow (NYSE:NOW) last issued its earnings results on Wednesday, July 24th. The information technology services provider reported $3.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.85 by $0.28. ServiceNow had a return on equity of 14.52% and a net margin of 11.51%. The company had revenue of $2.63 billion for the quarter, compared to the consensus estimate of $2.61 billion. During the same quarter last year, the company earned $0.77 EPS. The firm’s quarterly revenue was up 22.2% on a year-over-year basis. As a group, analysts forecast that ServiceNow, Inc. will post 6.78 EPS for the current fiscal year.

Insider Buying and Selling

In other ServiceNow news, General Counsel Russell S. Elmer sold 1,937 shares of ServiceNow stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $779.81, for a total value of $1,510,491.97. Following the sale, the general counsel now directly owns 6,736 shares in the company, valued at approximately $5,252,800.16. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, General Counsel Russell S. Elmer sold 1,937 shares of the firm’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $779.81, for a total transaction of $1,510,491.97. Following the completion of the transaction, the general counsel now owns 6,736 shares in the company, valued at $5,252,800.16. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Nicholas Tzitzon sold 1,857 shares of the business’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $829.68, for a total value of $1,540,715.76. Following the completion of the sale, the insider now owns 3,649 shares in the company, valued at $3,027,502.32. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 7,267 shares of company stock worth $5,935,447. 0.25% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on NOW. UBS Group lifted their target price on shares of ServiceNow from $900.00 to $1,055.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. JPMorgan Chase & Co. upped their price objective on ServiceNow from $780.00 to $820.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. Citigroup lifted their target price on ServiceNow from $915.00 to $1,068.00 and gave the stock a “buy” rating in a report on Thursday. Guggenheim reaffirmed a “sell” rating and set a $640.00 price target on shares of ServiceNow in a report on Monday, July 8th. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on ServiceNow from $875.00 to $900.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-five have given a buy rating to the company. Based on data from MarketBeat, ServiceNow currently has an average rating of “Moderate Buy” and a consensus price target of $914.15.

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.