ServiceNow, Inc. (NYSE:NOW) Shares Sold by Sigma Planning Corp

Sigma Planning Corp lessened its position in shares of ServiceNow, Inc. (NYSE:NOW) by 62.8% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 981 shares of the information technology services provider’s stock after selling 1,655 shares during the quarter. Sigma Planning Corp’s holdings in ServiceNow were worth $693,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. International Assets Investment Management LLC grew its position in shares of ServiceNow by 69,354.6% in the fourth quarter. International Assets Investment Management LLC now owns 821,648 shares of the information technology services provider’s stock valued at $580,486,000 after purchasing an additional 820,465 shares during the period. FMR LLC grew its position in shares of ServiceNow by 17.3% in the third quarter. FMR LLC now owns 4,036,796 shares of the information technology services provider’s stock valued at $2,256,407,000 after purchasing an additional 595,697 shares during the period. Jennison Associates LLC grew its position in shares of ServiceNow by 23.0% in the third quarter. Jennison Associates LLC now owns 2,467,471 shares of the information technology services provider’s stock valued at $1,379,217,000 after purchasing an additional 461,614 shares during the period. Cerity Partners LLC grew its position in shares of ServiceNow by 1,073.7% in the fourth quarter. Cerity Partners LLC now owns 406,262 shares of the information technology services provider’s stock valued at $287,020,000 after purchasing an additional 371,648 shares during the period. Finally, J.P. Morgan Private Wealth Advisors LLC acquired a new stake in shares of ServiceNow in the third quarter valued at about $135,075,000. Institutional investors and hedge funds own 87.18% of the company’s stock.

ServiceNow Price Performance

ServiceNow stock opened at $746.39 on Thursday. The company’s 50 day simple moving average is $761.32 and its 200-day simple moving average is $706.74. The company has a market capitalization of $153.29 billion, a price-to-earnings ratio of 88.75, a price-to-earnings-growth ratio of 4.68 and a beta of 0.97. ServiceNow, Inc. has a 1 year low of $427.68 and a 1 year high of $815.32. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.06 and a current ratio of 1.06.

ServiceNow (NYSE:NOW) last released its quarterly earnings results on Wednesday, January 24th. The information technology services provider reported $3.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.77 by $0.34. The business had revenue of $2.44 billion for the quarter, compared to the consensus estimate of $2.40 billion. ServiceNow had a net margin of 19.30% and a return on equity of 11.85%. The business’s revenue was up 25.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.88 EPS. As a group, equities research analysts expect that ServiceNow, Inc. will post 6.16 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on NOW. Guggenheim reiterated a “neutral” rating on shares of ServiceNow in a research report on Monday, April 15th. Barclays lifted their target price on shares of ServiceNow from $765.00 to $870.00 and gave the company an “overweight” rating in a research report on Tuesday, January 23rd. KeyCorp began coverage on shares of ServiceNow in a research report on Thursday, March 21st. They set an “overweight” rating and a $1,000.00 price target on the stock. Needham & Company LLC restated a “buy” rating and set a $900.00 price target on shares of ServiceNow in a research report on Tuesday, April 16th. Finally, BMO Capital Markets boosted their price target on shares of ServiceNow from $630.00 to $850.00 and gave the stock an “outperform” rating in a research report on Thursday, January 25th. Three research analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the stock. Based on data from MarketBeat.com, ServiceNow currently has an average rating of “Moderate Buy” and a consensus target price of $780.37.

Insider Activity

In other news, CEO William R. Mcdermott sold 5,030 shares of the business’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $753.08, for a total value of $3,787,992.40. Following the sale, the chief executive officer now directly owns 17,177 shares of the company’s stock, valued at approximately $12,935,655.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO William R. Mcdermott sold 5,030 shares of ServiceNow stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $753.08, for a total value of $3,787,992.40. Following the completion of the transaction, the chief executive officer now owns 17,177 shares in the company, valued at $12,935,655.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Paul John Smith sold 1,180 shares of ServiceNow stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $767.12, for a total transaction of $905,201.60. Following the completion of the transaction, the insider now owns 1,392 shares of the company’s stock, valued at approximately $1,067,831.04. The disclosure for this sale can be found here. In the last three months, insiders have sold 13,164 shares of company stock valued at $9,940,303. Company insiders own 0.25% of the company’s stock.

About ServiceNow

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.