Rise Advisors LLC Cuts Stake in ServiceNow, Inc. (NYSE:NOW)

Rise Advisors LLC cut its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 10.9% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 220 shares of the information technology services provider’s stock after selling 27 shares during the period. Rise Advisors LLC’s holdings in ServiceNow were worth $197,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Creekmur Asset Management LLC acquired a new position in ServiceNow in the 1st quarter worth $25,000. Versant Capital Management Inc increased its holdings in ServiceNow by 466.7% during the 2nd quarter. Versant Capital Management Inc now owns 34 shares of the information technology services provider’s stock worth $27,000 after purchasing an additional 28 shares during the last quarter. EntryPoint Capital LLC raised its position in shares of ServiceNow by 3,900.0% in the 1st quarter. EntryPoint Capital LLC now owns 40 shares of the information technology services provider’s stock valued at $30,000 after purchasing an additional 39 shares in the last quarter. Ridgewood Investments LLC purchased a new position in shares of ServiceNow during the 2nd quarter valued at approximately $32,000. Finally, TFC Financial Management Inc. grew its position in shares of ServiceNow by 466.7% during the first quarter. TFC Financial Management Inc. now owns 51 shares of the information technology services provider’s stock worth $39,000 after buying an additional 42 shares in the last quarter. 87.18% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider Jacqueline P. Canney sold 94 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $825.92, for a total transaction of $77,636.48. Following the transaction, the insider now directly owns 4,019 shares of the company’s stock, valued at approximately $3,319,372.48. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other ServiceNow news, insider Jacqueline P. Canney sold 94 shares of the business’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $825.92, for a total value of $77,636.48. Following the transaction, the insider now owns 4,019 shares in the company, valued at $3,319,372.48. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Gina Mastantuono sold 1,800 shares of the company’s stock in a transaction dated 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 completion of the transaction, the chief financial officer now directly owns 11,490 shares in the company, valued at approximately $9,479,250. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 6,914 shares of company stock valued at $5,608,936. Corporate insiders own 0.25% of the company’s stock.

ServiceNow Price Performance

NYSE NOW opened at $938.59 on Monday. ServiceNow, Inc. has a 1 year low of $527.24 and a 1 year high of $949.00. The stock’s 50-day moving average price is $861.16 and its two-hundred day moving average price is $786.43. The company has a market cap of $192.41 billion, a PE ratio of 100.38, a PEG ratio of 5.63 and a beta of 0.99. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.17.

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, topping the consensus estimate of $2.85 by $0.28. ServiceNow had a net margin of 11.51% and a return on equity of 14.52%. The firm had revenue of $2.63 billion for the quarter, compared to analysts’ expectations of $2.61 billion. During the same period in the previous year, the company posted $0.77 EPS. The company’s quarterly revenue was up 22.2% compared to the same quarter last year. On average, analysts predict that ServiceNow, Inc. will post 6.78 EPS for the current year.

Analyst Ratings Changes

Several analysts recently weighed in on NOW shares. Piper Sandler boosted their price objective on ServiceNow from $830.00 to $850.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. Robert W. Baird raised their target price on shares of ServiceNow from $885.00 to $900.00 and gave the stock an “outperform” rating in a 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 report on Monday, September 9th. Royal Bank of Canada increased their price target on ServiceNow from $850.00 to $880.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Finally, Truist Financial boosted their price objective on ServiceNow from $750.00 to $780.00 and gave the company a “hold” rating in a research report on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and twenty-five have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $880.04.

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.