TrueMark Investments LLC Trims Stock Holdings in ServiceNow, Inc. $NOW

TrueMark Investments LLC decreased its stake in ServiceNow, Inc. (NYSE:NOW) by 3.5% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 1,084 shares of the information technology services provider’s stock after selling 39 shares during the period. TrueMark Investments LLC’s holdings in ServiceNow were worth $1,114,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Global X Japan Co. Ltd. purchased a new stake in shares of ServiceNow during the second quarter worth about $30,000. 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 purchasing an additional 17 shares in the last quarter. Graybill Wealth Management LTD. purchased a new stake in shares of ServiceNow during the first quarter worth about $26,000. Richardson Financial Services Inc. boosted its stake in ServiceNow by 50.0% during the second quarter. Richardson Financial Services Inc. now owns 33 shares of the information technology services provider’s stock valued at $33,000 after buying an additional 11 shares during the last quarter. Finally, WASHINGTON TRUST Co boosted its stake in ServiceNow by 620.0% during the first quarter. WASHINGTON TRUST Co now owns 36 shares of the information technology services provider’s stock valued at $29,000 after buying an additional 31 shares during the last quarter. Hedge funds and other institutional investors own 87.18% of the company’s stock.

Insider Activity at ServiceNow

In other ServiceNow news, Vice Chairman Nicholas Tzitzon sold 1,719 shares of the firm’s stock in a transaction on Monday, August 18th. The stock was sold at an average price of $866.45, for a total transaction of $1,489,427.55. Following the transaction, the insider directly owned 3,000 shares in the company, valued at $2,599,350. This trade represents a 36.43% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, General Counsel Russell S. Elmer sold 1,698 shares of ServiceNow stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $884.26, for a total value of $1,501,473.48. Following the completion of the transaction, the general counsel owned 4,332 shares in the company, valued at $3,830,614.32. This represents a 28.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 18,737 shares of company stock worth $16,798,825 over the last three months. Corporate insiders own 0.38% of the company’s stock.

Analysts Set New Price Targets

NOW has been the subject of several analyst reports. Zacks Research raised ServiceNow from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 13th. Barclays set a $1,210.00 price target on ServiceNow in a report on Thursday, July 24th. BMO Capital Markets increased their price target on ServiceNow from $1,150.00 to $1,160.00 and gave the stock an “outperform” rating in a report on Thursday, July 24th. UBS Group reduced their price target on ServiceNow from $1,100.00 to $1,075.00 and set a “buy” rating on the stock in a report on Tuesday. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of ServiceNow in a report on Wednesday, October 8th. Two research analysts have rated the stock with a Strong Buy rating, thirty have given a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, ServiceNow presently has an average rating of “Moderate Buy” and a consensus target price of $1,121.37.

ServiceNow Trading Up 1.1%

NOW opened at $904.57 on Friday. The stock’s fifty day moving average is $910.30 and its two-hundred day moving average is $935.59. The company has a market capitalization of $188.15 billion, a P/E ratio of 113.93, a PEG ratio of 4.07 and a beta of 0.92. ServiceNow, Inc. has a 52 week low of $678.66 and a 52 week high of $1,198.09. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.14.

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