ServiceNow, Inc. $NOW Shares Sold by GM Advisory Group LLC

GM Advisory Group LLC lessened its position in shares of ServiceNow, Inc. (NYSE:NOW) by 22.3% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 372 shares of the information technology services provider’s stock after selling 107 shares during the quarter. GM Advisory Group LLC’s holdings in ServiceNow were worth $296,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the company. Bogart Wealth LLC grew its position in shares of ServiceNow by 113.3% during the first quarter. Bogart Wealth LLC now owns 32 shares of the information technology services provider’s stock worth $25,000 after acquiring an additional 17 shares during the last quarter. Graybill Wealth Management LTD. acquired a new stake in ServiceNow during the 1st quarter worth $26,000. Quarry LP purchased a new position in ServiceNow during the 4th quarter worth $27,000. WASHINGTON TRUST Co grew its position in ServiceNow by 620.0% during the 1st quarter. WASHINGTON TRUST Co now owns 36 shares of the information technology services provider’s stock worth $29,000 after purchasing an additional 31 shares during the last quarter. Finally, Dagco Inc. acquired a new position in ServiceNow in the first quarter valued at $33,000. Institutional investors and hedge funds own 87.18% of the company’s stock.

Insiders Place Their Bets

In other ServiceNow news, CFO Gina Mastantuono sold 1,762 shares of the stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $866.45, for a total value of $1,526,684.90. Following the completion of the transaction, the chief financial officer directly owned 12,228 shares of the company’s stock, valued at approximately $10,594,950.60. This trade represents a 12.59% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Vice Chairman Nicholas Tzitzon sold 1,719 shares of ServiceNow stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $866.45, for a total transaction of $1,489,427.55. Following the sale, the insider owned 3,000 shares of the company’s stock, valued at approximately $2,599,350. The trade was a 36.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 11,361 shares of company stock worth $10,579,976. Insiders own 0.38% of the company’s stock.

Wall Street Analyst Weigh In

NOW has been the subject of several recent research reports. Scotiabank set a $1,100.00 target price on shares of ServiceNow and gave the stock an “outperform” rating in a research note on Wednesday, May 7th. DA Davidson increased their price objective on ServiceNow from $1,150.00 to $1,250.00 and gave the stock a “buy” rating in a research report on Thursday, July 24th. Erste Group Bank reiterated a “hold” rating on shares of ServiceNow in a research note on Wednesday, July 23rd. Needham & Company LLC upped their price target on ServiceNow from $1,050.00 to $1,200.00 and gave the stock a “buy” rating in a research note on Thursday, July 24th. Finally, FBN Securities raised ServiceNow to a “strong-buy” rating in a report on Wednesday, June 11th. One investment analyst has rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, ServiceNow presently has a consensus rating of “Moderate Buy” and an average target price of $1,115.20.

ServiceNow Stock Performance

Shares of NOW stock opened at $891.2530 on Thursday. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.14. The stock has a 50 day simple moving average of $959.60 and a 200-day simple moving average of $931.56. The company has a market cap of $185.38 billion, a price-to-earnings ratio of 112.25, a price-to-earnings-growth ratio of 4.00 and a beta of 0.93. ServiceNow, Inc. has a 12-month low of $678.66 and a 12-month high of $1,198.09.

ServiceNow (NYSE:NOW) last announced its quarterly earnings data on Wednesday, July 23rd. The information technology services provider reported $4.09 earnings per share for the quarter, topping analysts’ consensus estimates of $3.57 by $0.52. ServiceNow had a return on equity of 18.04% and a net margin of 13.78%.The firm had revenue of $3.22 billion for the quarter, compared to analyst estimates of $3.12 billion. During the same quarter in the prior year, the company posted $3.13 earnings per share. ServiceNow’s quarterly revenue was up 22.4% on a year-over-year basis. On average, equities analysts forecast that ServiceNow, Inc. will post 8.93 EPS 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.