Trinity Legacy Partners LLC Decreases Stake in ServiceNow, Inc. (NYSE:NOW)

Trinity Legacy Partners LLC cut its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 1.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,315 shares of the information technology services provider’s stock after selling 118 shares during the quarter. ServiceNow comprises 1.4% of Trinity Legacy Partners LLC’s investment portfolio, making the stock its 23rd biggest position. Trinity Legacy Partners LLC’s holdings in ServiceNow were worth $5,966,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of NOW. M&G Plc acquired a new position in shares of ServiceNow during the 1st quarter valued at about $11,030,000. AXA S.A. boosted its holdings in ServiceNow by 1.1% in the 2nd quarter. AXA S.A. now owns 387,344 shares of the information technology services provider’s stock valued at $304,712,000 after purchasing an additional 4,271 shares during the last quarter. HWG Holdings LP purchased a new stake in shares of ServiceNow in the 2nd quarter valued at approximately $2,679,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its holdings in shares of ServiceNow by 375.6% during the 1st quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 1,365 shares of the information technology services provider’s stock worth $1,041,000 after buying an additional 1,078 shares during the last quarter. Finally, Wealthspire Advisors LLC raised its position in shares of ServiceNow by 3.4% during the 1st quarter. Wealthspire Advisors LLC now owns 1,683 shares of the information technology services provider’s stock valued at $1,283,000 after buying an additional 56 shares during the period. Hedge funds and other institutional investors own 87.18% of the company’s stock.

Wall Street Analyst Weigh In

NOW has been the topic of several recent analyst reports. BMO Capital Markets upped their price target on ServiceNow from $860.00 to $1,025.00 and gave the company an “outperform” rating in a research note on Thursday, October 10th. Robert W. Baird upped their target price on shares of ServiceNow from $900.00 to $975.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Jefferies Financial Group boosted their price target on shares of ServiceNow from $900.00 to $1,100.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of ServiceNow from $875.00 to $900.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Finally, Mizuho boosted their target price on ServiceNow from $850.00 to $980.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and twenty-five have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $970.33.

ServiceNow Stock Performance

Shares of ServiceNow stock opened at $1,015.45 on Friday. The stock has a market capitalization of $209.18 billion, a price-to-earnings ratio of 157.92, a PEG ratio of 5.48 and a beta of 0.98. The firm’s fifty day simple moving average is $905.83 and its 200-day simple moving average is $809.18. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.13 and a quick ratio of 1.13. ServiceNow, Inc. has a 12 month low of $615.54 and a 12 month high of $1,024.44.

ServiceNow (NYSE:NOW) last announced its earnings results on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share for the quarter, beating the consensus estimate of $3.46 by $0.26. The company had revenue of $2.80 billion for the quarter, compared to the consensus estimate of $2.75 billion. ServiceNow had a return on equity of 16.03% and a net margin of 12.77%. The company’s revenue was up 22.2% on a year-over-year basis. During the same period last year, the business posted $1.21 EPS. As a group, equities analysts forecast that ServiceNow, Inc. will post 7.07 earnings per share for the current year.

Insider Activity

In other ServiceNow news, Director Paul Edward Chamberlain sold 135 shares of the business’s stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $822.00, for a total transaction of $110,970.00. Following the sale, the director now directly owns 10,767 shares in the company, valued at approximately $8,850,474. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other ServiceNow news, Director Paul Edward Chamberlain sold 135 shares of the firm’s stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $822.00, for a total transaction of $110,970.00. Following the completion of the transaction, the director now owns 10,767 shares of the company’s stock, valued at approximately $8,850,474. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Jacqueline P. Canney sold 804 shares of the business’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $812.00, for a total transaction of $652,848.00. Following the completion of the transaction, the insider now directly owns 3,027 shares of the company’s stock, valued at $2,457,924. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 3,343 shares of company stock valued at $2,791,181 in the last three months. 0.25% of the stock is currently owned by company insiders.

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.