Darden Wealth Group Inc Sells 132 Shares of ServiceNow, Inc. $NOW

Darden Wealth Group Inc reduced its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 7.7% in the second quarter, according to its most recent filing with the SEC. The fund owned 1,588 shares of the information technology services provider’s stock after selling 132 shares during the period. ServiceNow comprises 1.0% of Darden Wealth Group Inc’s portfolio, making the stock its 20th biggest position. Darden Wealth Group Inc’s holdings in ServiceNow were worth $1,633,000 as of its most recent SEC filing.

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

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on NOW shares. Wells Fargo & Company increased their price objective on shares of ServiceNow from $1,150.00 to $1,225.00 and gave the company an “overweight” rating in a research note on Thursday, July 24th. UBS Group dropped their target price on ServiceNow from $1,100.00 to $1,075.00 and set a “buy” rating on the stock in a research report on Tuesday, October 14th. Barclays set a $1,210.00 price target on ServiceNow in a report on Thursday, July 24th. Morgan Stanley upgraded ServiceNow from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $1,040.00 to $1,250.00 in a research note on Wednesday, September 24th. Finally, Raymond James Financial boosted their target price on shares of ServiceNow from $1,000.00 to $1,100.00 and gave the stock an “outperform” rating in a report on Thursday, July 24th. Two equities research analysts have rated the stock with a Strong Buy rating, thirty-one have given a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $1,124.17.

Insider Transactions at ServiceNow

In related news, Vice Chairman Nicholas Tzitzon sold 1,719 shares of the stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $866.45, for a total value of $1,489,427.55. Following the transaction, the insider owned 3,000 shares in the company, valued at approximately $2,599,350. This represents a 36.43% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Paul Fipps sold 1,452 shares of ServiceNow stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $895.05, for a total transaction of $1,299,612.60. Following the sale, the insider owned 457 shares of the company’s stock, valued at approximately $409,037.85. The trade was a 76.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 18,737 shares of company stock valued at $16,798,825 over the last quarter. Company insiders own 0.38% of the company’s stock.

ServiceNow Stock Performance

Shares of NOW stock opened at $929.77 on Friday. The business has a fifty day moving average of $917.85 and a 200 day moving average of $942.45. ServiceNow, Inc. has a 1 year low of $678.66 and a 1 year high of $1,198.09. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.09 and a quick ratio of 1.09. The firm has a market capitalization of $193.39 billion, a price-to-earnings ratio of 117.10, a price-to-earnings-growth ratio of 4.19 and a beta of 0.92.

ServiceNow (NYSE:NOW) last posted its quarterly earnings results 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 for the quarter, compared to the consensus estimate of $3.12 billion. During the same quarter in the previous year, the business earned $3.13 EPS. The company’s quarterly revenue was up 22.4% compared to the same quarter last year. As a group, research analysts expect that ServiceNow, Inc. will post 8.93 earnings per share 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.