ServiceNow, Inc. (NYSE:NOW) Shares Sold by Peapack Gladstone Financial Corp

Peapack Gladstone Financial Corp lessened its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 2.0% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,898 shares of the information technology services provider’s stock after selling 39 shares during the quarter. Peapack Gladstone Financial Corp’s holdings in ServiceNow were worth $1,698,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Hennion & Walsh Asset Management Inc. grew its stake in ServiceNow by 62.8% during the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 3,889 shares of the information technology services provider’s stock worth $3,059,000 after purchasing an additional 1,500 shares in the last quarter. Apollon Wealth Management LLC increased its stake in shares of ServiceNow by 1.3% during the second quarter. Apollon Wealth Management LLC now owns 2,660 shares of the information technology services provider’s stock worth $2,093,000 after buying an additional 33 shares during the period. Raymond James Financial Services Advisors Inc. raised its holdings in ServiceNow by 5.8% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 84,180 shares of the information technology services provider’s stock valued at $66,222,000 after acquiring an additional 4,624 shares in the last quarter. First Citizens Bank & Trust Co. lifted its stake in ServiceNow by 12.0% in the second quarter. First Citizens Bank & Trust Co. now owns 896 shares of the information technology services provider’s stock worth $705,000 after acquiring an additional 96 shares during the last quarter. Finally, Focus Financial Network Inc. grew its holdings in ServiceNow by 5.4% during the 2nd quarter. Focus Financial Network Inc. now owns 13,158 shares of the information technology services provider’s stock worth $9,685,000 after acquiring an additional 678 shares in the last quarter. Hedge funds and other institutional investors own 87.18% of the company’s stock.

Insider Buying and Selling

In other news, insider Jacqueline P. Canney sold 353 shares of the stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $924.96, for a total value of $326,510.88. Following the completion of the transaction, the insider now owns 3,027 shares in the company, valued at $2,799,853.92. This trade represents a 10.44 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Paul Edward Chamberlain sold 300 shares of the firm’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $1,047.95, for a total transaction of $314,385.00. Following the completion of the sale, the director now owns 10,467 shares of the company’s stock, valued at $10,968,892.65. This trade represents a 2.79 % decrease in their position. 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 ninety days. Corporate insiders own 0.25% of the company’s stock.

ServiceNow Price Performance

ServiceNow stock opened at $1,121.10 on Monday. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.13 and a quick ratio of 1.13. The business has a 50 day simple moving average of $1,006.82 and a 200-day simple moving average of $872.87. ServiceNow, Inc. has a 12 month low of $637.99 and a 12 month high of $1,157.90. The stock has a market capitalization of $230.95 billion, a PE ratio of 174.35, a price-to-earnings-growth ratio of 6.58 and a beta of 0.99.

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

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on NOW shares. KeyCorp lowered shares of ServiceNow from an “overweight” rating to a “sector weight” rating in a report on Friday. Canaccord Genuity Group lifted their price target on ServiceNow from $850.00 to $1,000.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Needham & Company LLC upped their price objective on ServiceNow from $1,075.00 to $1,150.00 and gave the stock a “buy” rating in a research report on Monday, November 25th. Evercore ISI raised their target price on ServiceNow from $950.00 to $1,000.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Finally, JMP Securities upped their price target on ServiceNow from $850.00 to $1,000.00 and gave the company a “market outperform” rating in a report on Thursday, October 17th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $1,034.96.

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.