ServiceNow, Inc. (NYSE:NOW) Shares Sold by DC Investments Management LLC

DC Investments Management LLC decreased its position in shares of ServiceNow, Inc. (NYSE:NOW) by 5.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,030 shares of the information technology services provider’s stock after selling 56 shares during the period. DC Investments Management LLC’s holdings in ServiceNow were worth $579,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Barrett & Company Inc. purchased a new stake in ServiceNow during the 1st quarter worth about $28,000. High Net Worth Advisory Group LLC purchased a new stake in ServiceNow during the 1st quarter worth about $29,000. Altshuler Shaham Ltd purchased a new stake in ServiceNow during the 2nd quarter worth about $30,000. Larson Financial Group LLC increased its holdings in ServiceNow by 153.8% during the 1st quarter. Larson Financial Group LLC now owns 66 shares of the information technology services provider’s stock worth $31,000 after purchasing an additional 40 shares during the period. Finally, Global Trust Asset Management LLC increased its holdings in ServiceNow by 1,425.0% during the 2nd quarter. Global Trust Asset Management LLC now owns 61 shares of the information technology services provider’s stock worth $34,000 after purchasing an additional 57 shares during the period. Institutional investors and hedge funds own 87.14% of the company’s stock.

Insider Activity at ServiceNow

In other ServiceNow news, insider Paul John Smith sold 129 shares of the business’s stock in a transaction dated Monday, November 13th. The stock was sold at an average price of $635.47, for a total transaction of $81,975.63. Following the completion of the sale, the insider now owns 2,057 shares of the company’s stock, valued at $1,307,161.79. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other ServiceNow news, insider Paul John Smith sold 129 shares of the business’s stock in a transaction dated Monday, November 13th. The stock was sold at an average price of $635.47, for a total transaction of $81,975.63. Following the completion of the sale, the insider now owns 2,057 shares of the company’s stock, valued at $1,307,161.79. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Christopher Bedi sold 1,000 shares of the business’s stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $554.75, for a total value of $554,750.00. Following the sale, the insider now directly owns 15,484 shares of the company’s stock, valued at approximately $8,589,749. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 9,656 shares of company stock worth $5,649,228. 0.24% of the stock is currently owned by insiders.

ServiceNow Stock Performance

NYSE NOW opened at $653.75 on Monday. ServiceNow, Inc. has a fifty-two week low of $353.62 and a fifty-two week high of $659.94. The stock has a market cap of $134.02 billion, a price-to-earnings ratio of 84.76, a price-to-earnings-growth ratio of 5.68 and a beta of 0.99. The business has a fifty day moving average of $577.93 and a 200-day moving average of $558.60. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.21.

ServiceNow (NYSE:NOW) last released its quarterly earnings results on Wednesday, October 25th. The information technology services provider reported $1.21 earnings per share for the quarter, topping analysts’ consensus estimates of $0.89 by $0.32. ServiceNow had a return on equity of 12.25% and a net margin of 18.72%. The company had revenue of $2.29 billion during the quarter, compared to analysts’ expectations of $2.27 billion. As a group, analysts predict that ServiceNow, Inc. will post 4.06 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have weighed in on NOW shares. Morgan Stanley upped their price target on ServiceNow from $630.00 to $648.00 and gave the stock an “overweight” rating in a report on Thursday, October 26th. Evercore ISI raised their price target on ServiceNow from $550.00 to $650.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 15th. StockNews.com initiated coverage on ServiceNow in a research note on Thursday, October 5th. They set a “buy” rating on the stock. TheStreet downgraded ServiceNow from a “b” rating to a “c+” rating in a research note on Wednesday, October 25th. Finally, Royal Bank of Canada raised their price target on ServiceNow from $665.00 to $680.00 and gave the stock an “outperform” rating in a research note on Thursday, November 9th. Two investment analysts have rated the stock with a hold rating and twenty-eight have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $614.77.

ServiceNow Company Profile

ServiceNow, Inc provides enterprise cloud computing solutions that defines, structures, consolidates, manages, and automates services for enterprises worldwide. The company operates the Now platform for workflow automation, artificial intelligence, machine learning, robotic process automation, process mining, performance analytics, electronic service catalogs and portals, configuration management systems, data benchmarking, encryption, and collaboration and development tools.