ServiceNow, Inc. (NYSE:NOW) Shares Sold by Highland Capital Management LLC

Highland Capital Management LLC cut its holdings in ServiceNow, Inc. (NYSE:NOW) by 16.6% in the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,513 shares of the information technology services provider’s stock after selling 499 shares during the quarter. Highland Capital Management LLC’s holdings in ServiceNow were worth $1,977,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Creekmur Asset Management LLC purchased a new position in shares of ServiceNow in the first quarter worth about $25,000. Versant Capital Management Inc lifted its stake in shares of ServiceNow by 466.7% in the 2nd quarter. Versant Capital Management Inc now owns 34 shares of the information technology services provider’s stock valued at $27,000 after purchasing an additional 28 shares during the period. University of Texas Texas AM Investment Managment Co. purchased a new stake in shares of ServiceNow during the fourth quarter worth approximately $29,000. EntryPoint Capital LLC boosted its stake in ServiceNow by 3,900.0% during the 1st quarter. EntryPoint Capital LLC now owns 40 shares of the information technology services provider’s stock worth $30,000 after purchasing an additional 39 shares during the last quarter. Finally, Sachetta LLC purchased a new stake in shares of ServiceNow during the fourth quarter worth $35,000. Institutional investors and hedge funds own 87.18% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Deutsche Bank Aktiengesellschaft lifted their price objective on ServiceNow from $875.00 to $900.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. TD Cowen upped their target price on shares of ServiceNow from $870.00 to $900.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. William Blair reaffirmed an “outperform” rating on shares of ServiceNow in a research note on Tuesday, May 7th. Wells Fargo & Company upped their price objective on shares of ServiceNow from $920.00 to $935.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. Finally, Guggenheim reiterated a “sell” rating and issued a $640.00 target price on shares of ServiceNow in a report on Monday, July 8th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and twenty-five have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $849.62.

ServiceNow Stock Performance

Shares of ServiceNow stock traded up $1.69 during trading hours on Monday, hitting $829.96. 27,718 shares of the company were exchanged, compared to its average volume of 1,295,216. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.17. The business has a 50-day moving average of $782.00 and a 200-day moving average of $758.94. ServiceNow, Inc. has a 1 year low of $527.24 and a 1 year high of $850.33. The stock has a market capitalization of $170.14 billion, a price-to-earnings ratio of 88.59, a P/E/G ratio of 4.82 and a beta of 0.99.

ServiceNow (NYSE:NOW) last announced its quarterly earnings data on Wednesday, July 24th. The information technology services provider reported $3.13 earnings per share for the quarter, topping the consensus estimate of $2.85 by $0.28. The business had revenue of $2.63 billion for the quarter, compared to analyst estimates of $2.61 billion. ServiceNow had a net margin of 11.51% and a return on equity of 14.52%. The company’s revenue was up 22.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.77 EPS. As a group, analysts expect that ServiceNow, Inc. will post 6.84 EPS for the current fiscal year.

Insider Buying and Selling

In other ServiceNow news, insider Nicholas Tzitzon sold 2,000 shares of the business’s stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $690.99, for a total value of $1,381,980.00. Following the transaction, the insider now owns 3,649 shares in the company, valued at approximately $2,521,422.51. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Jacqueline P. Canney sold 94 shares of ServiceNow stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $825.92, for a total value of $77,636.48. Following the completion of the transaction, the insider now directly owns 4,019 shares of the company’s stock, valued at approximately $3,319,372.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Nicholas Tzitzon sold 2,000 shares of the stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $690.99, for a total transaction of $1,381,980.00. Following the sale, the insider now owns 3,649 shares in the company, valued at approximately $2,521,422.51. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 9,072 shares of company stock valued at $6,930,684. 0.25% of the stock is currently owned by company insiders.

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.