ServiceNow, Inc. (NYSE:NOW) Shares Sold by CHB Investment Group LLC

CHB Investment Group LLC lessened its stake in ServiceNow, Inc. (NYSE:NOW) by 2.3% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 3,495 shares of the information technology services provider’s stock after selling 81 shares during the quarter. ServiceNow accounts for approximately 2.0% of CHB Investment Group LLC’s portfolio, making the stock its 6th biggest position. CHB Investment Group LLC’s holdings in ServiceNow were worth $3,705,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. FNY Investment Advisers LLC acquired a new stake in shares of ServiceNow during the 4th quarter worth about $699,000. AdvisorNet Financial Inc raised its holdings in ServiceNow by 34.4% during the fourth quarter. AdvisorNet Financial Inc now owns 129 shares of the information technology services provider’s stock worth $137,000 after purchasing an additional 33 shares in the last quarter. PFW Advisors LLC purchased a new stake in shares of ServiceNow during the 4th quarter worth approximately $207,000. Parisi Gray Wealth Management boosted its holdings in shares of ServiceNow by 6.1% in the 4th quarter. Parisi Gray Wealth Management now owns 328 shares of the information technology services provider’s stock valued at $348,000 after buying an additional 19 shares in the last quarter. Finally, Friedenthal Financial purchased a new position in shares of ServiceNow in the 4th quarter valued at $55,000. 87.18% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have issued reports on NOW shares. Royal Bank of Canada upped their price objective on shares of ServiceNow from $1,045.00 to $1,210.00 and gave the company an “outperform” rating in a research note on Friday, January 3rd. Scotiabank began coverage on ServiceNow in a research note on Tuesday, November 19th. They set a “sector outperform” rating and a $1,230.00 price target for the company. Mizuho lifted their price objective on shares of ServiceNow from $1,070.00 to $1,210.00 and gave the company an “outperform” rating in a research report on Friday, December 13th. Oppenheimer raised their target price on shares of ServiceNow from $1,020.00 to $1,150.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 3rd. Finally, Needham & Company LLC lifted their price objective on ServiceNow from $1,075.00 to $1,150.00 and gave the company a “buy” rating in a report on Monday, November 25th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-five have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, ServiceNow has a consensus rating of “Moderate Buy” and an average price target of $1,071.39.

Insider Buying and Selling at ServiceNow

In related news, CEO William R. Mcdermott sold 12,271 shares of the company’s stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $997.67, for a total transaction of $12,242,408.57. Following the completion of the sale, the chief executive officer now directly owns 2,595 shares of the company’s stock, valued at approximately $2,588,953.65. This represents a 82.54 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jacqueline P. Canney sold 353 shares of the business’s stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $924.96, for a total value of $326,510.88. Following the transaction, the insider now owns 3,027 shares in the company, valued at approximately $2,799,853.92. This represents a 10.44 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 20,629 shares of company stock worth $20,861,626 in the last quarter. 0.25% of the stock is owned by insiders.

ServiceNow Trading Down 1.2 %

Shares of ServiceNow stock opened at $1,012.47 on Tuesday. The firm has a market cap of $208.57 billion, a PE ratio of 157.46, a P/E/G ratio of 6.43 and a beta of 0.99. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.16. ServiceNow, Inc. has a fifty-two week low of $637.99 and a fifty-two week high of $1,157.90. The business’s fifty day moving average is $1,065.17 and its two-hundred day moving average is $925.81.

ServiceNow (NYSE:NOW) last posted its quarterly earnings data on Wednesday, October 23rd. The information technology services provider reported $3.72 EPS for the quarter, beating analysts’ consensus estimates of $3.46 by $0.26. ServiceNow had a net margin of 12.77% and a return on equity of 16.03%. The company had revenue of $2.80 billion during the quarter, compared to the consensus estimate of $2.75 billion. During the same quarter in the prior year, the company posted $1.21 EPS. The company’s quarterly revenue was up 22.2% compared to the same quarter last year. Analysts anticipate that ServiceNow, Inc. will post 7.07 earnings per share for the current year.

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.