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

Winthrop Advisory Group LLC lessened its stake in ServiceNow, Inc. (NYSE:NOW) by 11.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 614 shares of the information technology services provider’s stock after selling 78 shares during the quarter. Winthrop Advisory Group LLC’s holdings in ServiceNow were worth $631,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Wealth Preservation Advisors LLC acquired a new stake in ServiceNow during the first quarter worth about $382,000. Corient IA LLC acquired a new stake in shares of ServiceNow during the 1st quarter worth about $796,000. Parr Mcknight Wealth Management Group LLC acquired a new stake in shares of ServiceNow during the 1st quarter worth about $1,820,000. Goldman Sachs Group Inc. increased its position in shares of ServiceNow by 131.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,480,526 shares of the information technology services provider’s stock worth $1,178,706,000 after purchasing an additional 840,731 shares during the last quarter. Finally, ASR Vermogensbeheer N.V. acquired a new stake in shares of ServiceNow during the first quarter valued at about $19,278,000. Institutional investors and hedge funds own 87.18% of the company’s stock.

Insider Buying and Selling at ServiceNow

In related news, insider Jacqueline P. Canney sold 1,562 shares of ServiceNow stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $866.45, for a total transaction of $1,353,394.90. Following the completion of the transaction, the insider directly owned 3,027 shares in the company, valued at $2,622,744.15. The trade was a 34.04% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Gina Mastantuono sold 1,762 shares of the business’s stock in a transaction on 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 owned 12,228 shares of the company’s stock, valued at $10,594,950.60. This trade represents a 12.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 18,737 shares of company stock worth $16,798,825. Insiders own 0.38% of the company’s stock.

ServiceNow Trading Down 0.8%

Shares of ServiceNow stock opened at $905.41 on Wednesday. The stock has a market cap of $188.32 billion, a price-to-earnings ratio of 114.03, a PEG ratio of 4.11 and a beta of 0.92. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.14. ServiceNow, Inc. has a 12-month low of $678.66 and a 12-month high of $1,198.09. The company has a fifty day simple moving average of $911.49 and a 200-day simple moving average of $931.09.

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

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on NOW. Barclays set a $1,210.00 target price on shares of ServiceNow in a report on Thursday, July 24th. Citigroup lifted their price objective on ServiceNow from $1,160.00 to $1,234.00 and gave the company a “buy” rating in a research note on Thursday, July 24th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of ServiceNow in a research report on Saturday, September 27th. Cantor Fitzgerald restated an “overweight” rating and issued a $1,200.00 price objective on shares of ServiceNow in a report on Thursday, July 24th. Finally, Bank of America lifted their price objective on shares of ServiceNow from $1,110.00 to $1,200.00 and gave the company a “buy” rating in a report on Thursday, July 24th. One analyst has rated the stock with a Strong Buy rating, thirty have assigned a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $1,122.20.

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.