E&G Advisors LP Sells 85 Shares of ServiceNow, Inc. (NYSE:NOW)

E&G Advisors LP lessened its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 14.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 495 shares of the information technology services provider’s stock after selling 85 shares during the quarter. E&G Advisors LP’s holdings in ServiceNow were worth $443,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. AA Financial Advisors LLC raised its position in shares of ServiceNow by 9.5% during the third quarter. AA Financial Advisors LLC now owns 474 shares of the information technology services provider’s stock valued at $424,000 after buying an additional 41 shares during the last quarter. Alta Wealth Advisors LLC increased its holdings in ServiceNow by 31.9% in the 3rd quarter. Alta Wealth Advisors LLC now owns 3,143 shares of the information technology services provider’s stock valued at $2,811,000 after acquiring an additional 760 shares during the last quarter. Chicago Capital LLC lifted its stake in ServiceNow by 1.6% in the 3rd quarter. Chicago Capital LLC now owns 77,737 shares of the information technology services provider’s stock worth $69,527,000 after purchasing an additional 1,189 shares in the last quarter. Everett Harris & Co. CA bought a new position in shares of ServiceNow during the 3rd quarter valued at about $215,000. Finally, Harfst & Associates Inc. grew its position in shares of ServiceNow by 24.0% during the third quarter. Harfst & Associates Inc. now owns 2,642 shares of the information technology services provider’s stock valued at $2,363,000 after purchasing an additional 512 shares in the last quarter. 87.18% of the stock is currently owned by institutional investors.

Insider Activity

In related news, General Counsel Russell S. Elmer sold 1,937 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The shares were 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. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 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 transaction, the general counsel now directly owns 6,736 shares of the company’s stock, valued at approximately $5,252,800.16. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Nicholas Tzitzon sold 1,857 shares of the company’s stock in a transaction on 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 transaction, the insider now directly owns 3,649 shares in the company, valued at approximately $3,027,502.32. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 7,267 shares of company stock worth $5,935,447. Corporate insiders own 0.25% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on NOW. Mizuho boosted their target price on ServiceNow from $850.00 to $980.00 and gave the stock an “outperform” rating in a research report on Thursday. Canaccord Genuity Group reiterated a “buy” rating and set a $835.00 target price on shares of ServiceNow in a research report on Tuesday, July 23rd. UBS Group raised their target price on shares of ServiceNow from $900.00 to $1,055.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. TD Cowen upped their price target on shares of ServiceNow from $870.00 to $900.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Finally, Stifel Nicolaus lifted their price objective on shares of ServiceNow from $820.00 to $900.00 and gave the stock a “buy” rating in a research note 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 assigned a buy rating to the company. Based on data from MarketBeat, ServiceNow presently has an average rating of “Moderate Buy” and an average price target of $914.15.

ServiceNow Price Performance

NYSE NOW opened at $921.75 on Friday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.12 and a current ratio of 1.12. The company has a market cap of $188.96 billion, a PE ratio of 98.58, a P/E/G ratio of 5.63 and a beta of 0.99. The firm’s 50 day moving average price is $874.61 and its 200-day moving average price is $791.98. ServiceNow, Inc. has a 52-week low of $527.24 and a 52-week high of $949.59.

ServiceNow (NYSE:NOW) last issued its quarterly earnings data on Wednesday, July 24th. The information technology services provider reported $3.13 earnings per share for the quarter, topping analysts’ consensus estimates of $2.85 by $0.28. ServiceNow had a return on equity of 14.52% and a net margin of 11.51%. The firm had revenue of $2.63 billion during the quarter, compared to analysts’ expectations of $2.61 billion. During the same period in the prior year, the business posted $0.77 EPS. The firm’s quarterly revenue was up 22.2% on a year-over-year basis. Sell-side analysts forecast that ServiceNow, Inc. will post 6.78 EPS for the current fiscal 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.