Passive Capital Management LLC. Sells 370 Shares of ServiceNow, Inc. (NYSE:NOW)

Passive Capital Management LLC. lessened its position in shares of ServiceNow, Inc. (NYSE:NOW) by 20.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,441 shares of the information technology services provider’s stock after selling 370 shares during the quarter. ServiceNow comprises 0.4% of Passive Capital Management LLC.’s holdings, making the stock its 28th biggest position. Passive Capital Management LLC.’s holdings in ServiceNow were worth $1,289,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of NOW. Polymer Capital Management HK LTD lifted its holdings in shares of ServiceNow by 57.0% during the 3rd quarter. Polymer Capital Management HK LTD now owns 2,701 shares of the information technology services provider’s stock valued at $2,416,000 after purchasing an additional 981 shares during the last quarter. AXA S.A. raised its stake in ServiceNow by 1.1% in the second quarter. AXA S.A. now owns 387,344 shares of the information technology services provider’s stock valued at $304,712,000 after buying an additional 4,271 shares during the last quarter. Avidian Wealth Enterprises LLC boosted its holdings in ServiceNow by 39.4% in the third quarter. Avidian Wealth Enterprises LLC now owns 488 shares of the information technology services provider’s stock worth $436,000 after acquiring an additional 138 shares in the last quarter. Venturi Wealth Management LLC grew its stake in shares of ServiceNow by 36.4% during the third quarter. Venturi Wealth Management LLC now owns 2,868 shares of the information technology services provider’s stock worth $2,565,000 after acquiring an additional 765 shares during the last quarter. Finally, HWG Holdings LP acquired a new position in shares of ServiceNow during the second quarter valued at about $2,679,000. Hedge funds and other institutional investors own 87.18% of the company’s stock.

Insider Transactions at ServiceNow

In other ServiceNow news, CEO William R. Mcdermott sold 12,271 shares of the business’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $997.67, for a total transaction of $12,242,408.57. Following the transaction, the chief executive officer now owns 2,595 shares of the company’s stock, valued at approximately $2,588,953.65. The trade was a 82.54 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Paul Edward Chamberlain sold 300 shares of the firm’s stock in a transaction on Friday, November 29th. The stock was sold at an average price of $1,047.95, for a total value of $314,385.00. Following the completion of the sale, the director now directly owns 10,467 shares of the company’s stock, valued at $10,968,892.65. This trade represents a 2.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 20,629 shares of company stock valued at $20,861,626 over the last 90 days. 0.25% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts have weighed in on NOW shares. Wells Fargo & Company boosted their target price on shares of ServiceNow from $1,150.00 to $1,250.00 and gave the stock an “overweight” rating in a research report on Thursday. JMP Securities boosted their price objective on shares of ServiceNow from $850.00 to $1,000.00 and gave the company a “market outperform” rating in a report on Thursday, October 17th. Truist Financial raised their target price on ServiceNow from $780.00 to $900.00 and gave the stock a “hold” rating in a research note on Wednesday, October 23rd. Oppenheimer boosted their price target on ServiceNow from $1,020.00 to $1,150.00 and gave the company an “outperform” rating in a research note on Tuesday, December 3rd. Finally, Piper Sandler raised their price objective on ServiceNow from $850.00 to $1,000.00 and gave the stock an “overweight” rating in a research note on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, twenty-five have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $1,011.26.

ServiceNow Trading Up 0.1 %

Shares of ServiceNow stock opened at $1,124.34 on Friday. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.16. ServiceNow, Inc. has a twelve month low of $637.99 and a twelve month high of $1,137.00. The firm has a market capitalization of $231.61 billion, a PE ratio of 174.86, a P/E/G ratio of 6.45 and a beta of 0.99. The firm’s 50-day moving average price is $982.51 and its 200 day moving average price is $858.37.

ServiceNow (NYSE:NOW) last issued its quarterly earnings results on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.46 by $0.26. ServiceNow had a return on equity of 16.03% and a net margin of 12.77%. The firm had revenue of $2.80 billion for the quarter, compared to analyst estimates of $2.75 billion. During the same period in the previous year, the company posted $1.21 earnings per share. The business’s revenue was up 22.2% on a year-over-year basis. On average, sell-side analysts predict that ServiceNow, Inc. will post 7.07 EPS for the current fiscal year.

ServiceNow 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.