Taurus Asset Management LLC Trims Stake in ServiceNow, Inc. (NYSE:NOW)

Taurus Asset Management LLC lowered its position in ServiceNow, Inc. (NYSE:NOW) by 0.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 18,455 shares of the information technology services provider’s stock after selling 105 shares during the quarter. Taurus Asset Management LLC’s holdings in ServiceNow were worth $13,038,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in NOW. AdvisorNet Financial Inc grew its holdings in shares of ServiceNow by 266.7% in the fourth quarter. AdvisorNet Financial Inc now owns 44 shares of the information technology services provider’s stock worth $31,000 after purchasing an additional 32 shares during the last quarter. Disciplined Equity Management Inc. bought a new position in shares of ServiceNow in the fourth quarter worth about $35,000. Sachetta LLC bought a new position in shares of ServiceNow in the fourth quarter worth about $35,000. Fortitude Family Office LLC bought a new position in shares of ServiceNow in the fourth quarter worth about $41,000. Finally, Oliver Lagore Vanvalin Investment Group grew its holdings in shares of ServiceNow by 30.4% in the fourth quarter. Oliver Lagore Vanvalin Investment Group now owns 60 shares of the information technology services provider’s stock worth $42,000 after purchasing an additional 14 shares during the last quarter. Hedge funds and other institutional investors own 87.18% of the company’s stock.

Insider Transactions at ServiceNow

In other news, insider Paul John Smith sold 125 shares of the firm’s stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $727.38, for a total transaction of $90,922.50. Following the sale, the insider now owns 3,112 shares of the company’s stock, valued at approximately $2,263,606.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Paul John Smith sold 125 shares of ServiceNow stock in a transaction on Monday, May 13th. The shares were sold at an average price of $727.38, for a total value of $90,922.50. Following the sale, the insider now owns 3,112 shares of the company’s stock, valued at approximately $2,263,606.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Frederic B. Luddy sold 598 shares of ServiceNow stock in a transaction on Friday, May 24th. The shares were sold at an average price of $741.92, for a total transaction of $443,668.16. Following the completion of the sale, the director now directly owns 428 shares in the company, valued at approximately $317,541.76. The disclosure for this sale can be found here. Insiders have sold 1,515 shares of company stock valued at $1,134,548 in the last 90 days. 0.25% of the stock is currently owned by company insiders.

ServiceNow Stock Performance

NOW traded down $87.62 during trading on Thursday, reaching $643.50. 5,094,709 shares of the company’s stock were exchanged, compared to its average volume of 1,236,519. ServiceNow, Inc. has a 1 year low of $526.11 and a 1 year high of $815.32. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.05 and a quick ratio of 1.05. The stock has a market capitalization of $131.92 billion, a P/E ratio of 68.99, a price-to-earnings-growth ratio of 4.57 and a beta of 0.98. The company’s fifty day simple moving average is $745.48 and its 200-day simple moving average is $734.48.

ServiceNow (NYSE:NOW) last posted its quarterly earnings results on Wednesday, April 24th. The information technology services provider reported $1.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.41 by $0.41. ServiceNow had a net margin of 20.34% and a return on equity of 13.59%. The company had revenue of $2.60 billion during the quarter, compared to analyst estimates of $2.59 billion. As a group, research analysts predict that ServiceNow, Inc. will post 6.5 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have issued reports on NOW. Wells Fargo & Company increased their target price on shares of ServiceNow from $875.00 to $900.00 and gave the stock an “overweight” rating in a report on Tuesday, April 16th. Guggenheim reiterated a “neutral” rating on shares of ServiceNow in a report on Monday, April 15th. William Blair reiterated an “outperform” rating on shares of ServiceNow in a report on Tuesday, May 7th. BMO Capital Markets dropped their target price on shares of ServiceNow from $850.00 to $830.00 and set an “outperform” rating on the stock in a report on Thursday, April 25th. Finally, Stifel Nicolaus reiterated a “buy” rating and set a $820.00 target price on shares of ServiceNow in a report on Wednesday, March 20th. Three analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $808.73.

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.