Taurus Asset Management LLC Sells 116 Shares of ServiceNow, Inc. (NYSE:NOW)

Taurus Asset Management LLC lowered its position in shares of ServiceNow, Inc. (NYSE:NOW) by 0.6% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 17,880 shares of the information technology services provider’s stock after selling 116 shares during the period. Taurus Asset Management LLC’s holdings in ServiceNow were worth $14,066,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Creekmur Asset Management LLC bought a new position in ServiceNow during the 1st quarter worth $25,000. Versant Capital Management Inc increased its position in ServiceNow by 466.7% during the second quarter. Versant Capital Management Inc now owns 34 shares of the information technology services provider’s stock worth $27,000 after acquiring an additional 28 shares during the period. University of Texas Texas AM Investment Managment Co. bought a new position in ServiceNow during the fourth quarter worth about $29,000. EntryPoint Capital LLC raised its stake in ServiceNow by 3,900.0% in 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 in the last quarter. Finally, Ridgewood Investments LLC acquired a new position in shares of ServiceNow during the 2nd quarter worth approximately $32,000. 87.18% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at ServiceNow

In related news, CFO Gina Mastantuono sold 1,800 shares of the company’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $825.00, for a total value of $1,485,000.00. Following the sale, the chief financial officer now directly owns 11,490 shares in the company, valued at $9,479,250. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, General Counsel Russell S. Elmer sold 1,937 shares of ServiceNow stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $779.81, for a total transaction of $1,510,491.97. Following the completion of the transaction, the general counsel now owns 6,736 shares of the company’s stock, valued at $5,252,800.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Gina Mastantuono sold 1,800 shares of the company’s stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $825.00, for a total transaction of $1,485,000.00. Following the sale, the chief financial officer now directly owns 11,490 shares in the company, valued at approximately $9,479,250. The disclosure for this sale can be found here. Insiders sold 6,914 shares of company stock worth $5,608,936 over the last ninety days. 0.25% of the stock is owned by insiders.

ServiceNow Trading Down 0.8 %

Shares of NYSE NOW opened at $878.95 on Friday. The stock has a market cap of $181.06 billion, a P/E ratio of 94.01, a price-to-earnings-growth ratio of 5.25 and a beta of 0.98. The firm has a 50 day moving average price of $807.22 and a two-hundred day moving average price of $766.50. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.12 and a current ratio of 1.12. ServiceNow, Inc. has a 52-week low of $527.24 and a 52-week high of $889.52.

ServiceNow (NYSE:NOW) last posted its quarterly earnings data on Wednesday, July 24th. The information technology services provider reported $3.13 earnings per share for the quarter, beating analysts’ consensus estimates of $2.85 by $0.28. The business had revenue of $2.63 billion during the quarter, compared to the consensus estimate of $2.61 billion. ServiceNow had a return on equity of 14.52% and a net margin of 11.51%. ServiceNow’s quarterly revenue was up 22.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.77 earnings per share. As a group, equities analysts forecast that ServiceNow, Inc. will post 6.78 EPS for the current year.

Analyst Upgrades and Downgrades

NOW has been the topic of a number of recent research reports. BMO Capital Markets raised their price objective on ServiceNow from $830.00 to $860.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Deutsche Bank Aktiengesellschaft boosted their price target on ServiceNow from $875.00 to $900.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. KeyCorp reduced their price objective on shares of ServiceNow from $950.00 to $920.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 2nd. Truist Financial boosted their target price on shares of ServiceNow from $750.00 to $780.00 and gave the company a “hold” rating in a research report on Thursday, July 25th. Finally, JMP Securities increased their price target on shares of ServiceNow from $825.00 to $850.00 and gave the stock a “market outperform” rating in a research report on Thursday, July 25th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-five have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $849.62.

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.