ServiceNow, Inc. (NYSE:NOW) Shares Sold by Simplicity Wealth LLC

Simplicity Wealth LLC decreased its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 78.9% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 952 shares of the information technology services provider’s stock after selling 3,564 shares during the period. Simplicity Wealth LLC’s holdings in ServiceNow were worth $852,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in NOW. Swedbank AB purchased a new stake in ServiceNow during the 1st quarter worth about $897,908,000. Global Assets Advisory LLC acquired a new position in shares of ServiceNow in the first quarter valued at approximately $403,034,000. Vanguard Group Inc. lifted its stake in shares of ServiceNow by 1.8% during the first quarter. Vanguard Group Inc. now owns 18,450,570 shares of the information technology services provider’s stock valued at $14,066,715,000 after buying an additional 331,797 shares during the period. AustralianSuper Pty Ltd acquired a new stake in ServiceNow during the second quarter worth approximately $218,786,000. Finally, Acadian Asset Management LLC raised its holdings in ServiceNow by 233.4% in the 1st quarter. Acadian Asset Management LLC now owns 387,225 shares of the information technology services provider’s stock valued at $295,198,000 after acquiring an additional 271,073 shares during the last quarter. 87.18% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. Piper Sandler lifted their price objective on ServiceNow from $830.00 to $850.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. Needham & Company LLC reaffirmed a “buy” rating and set a $900.00 target price on shares of ServiceNow in a research report on Monday, September 9th. Stifel Nicolaus raised their price objective on ServiceNow from $820.00 to $900.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Barclays upped their target price on ServiceNow from $890.00 to $980.00 and gave the company an “overweight” rating in a research report on Friday. Finally, JMP Securities lifted their price target on shares of ServiceNow from $825.00 to $850.00 and gave the stock a “market outperform” rating in a research note on Thursday, July 25th. One research 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. Based on data from MarketBeat, ServiceNow currently has a consensus rating of “Moderate Buy” and a consensus target price of $880.04.

ServiceNow Price Performance

Shares of NOW opened at $938.59 on Friday. ServiceNow, Inc. has a one year low of $527.24 and a one year high of $949.00. The stock’s fifty day moving average is $861.16 and its 200-day moving average is $786.23. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.12 and a current ratio of 1.12. The firm has a market capitalization of $192.41 billion, a price-to-earnings ratio of 100.38, a price-to-earnings-growth ratio of 5.63 and a beta of 0.99.

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

Insider Buying and Selling at ServiceNow

In related news, insider Nicholas Tzitzon sold 1,857 shares of ServiceNow stock in a transaction on Monday, August 26th. The stock was sold at an average price of $829.68, for a total value of $1,540,715.76. Following the transaction, the insider now directly owns 3,649 shares in the company, valued at $3,027,502.32. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other ServiceNow news, CFO Gina Mastantuono sold 1,800 shares of ServiceNow stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $825.00, for a total transaction of $1,485,000.00. Following the transaction, the chief financial officer now owns 11,490 shares of the company’s stock, valued at $9,479,250. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Nicholas Tzitzon sold 1,857 shares of the stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $829.68, for a total transaction of $1,540,715.76. Following the completion of the sale, the insider now directly owns 3,649 shares of the company’s stock, valued at $3,027,502.32. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 6,914 shares of company stock valued at $5,608,936. Corporate insiders own 0.25% of the company’s stock.

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.