Shelton Wealth Management LLC Has $1.23 Million Holdings in ServiceNow, Inc. (NYSE:NOW)

Shelton Wealth Management LLC lessened its holdings in ServiceNow, Inc. (NYSE:NOW) by 5.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,161 shares of the information technology services provider’s stock after selling 66 shares during the quarter. Shelton Wealth Management LLC’s holdings in ServiceNow were worth $1,231,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in NOW. Truvestments Capital LLC bought a new stake in ServiceNow during the 3rd quarter worth about $30,000. DT Investment Partners LLC increased its position in shares of ServiceNow by 77.3% in the third quarter. DT Investment Partners LLC now owns 39 shares of the information technology services provider’s stock valued at $35,000 after acquiring an additional 17 shares during the last quarter. Oakworth Capital Inc. boosted its position in ServiceNow by 46.7% during the third quarter. Oakworth Capital Inc. now owns 44 shares of the information technology services provider’s stock valued at $39,000 after purchasing an additional 14 shares during the last quarter. Semmax Financial Advisors Inc. bought a new position in ServiceNow in the second quarter valued at approximately $39,000. Finally, Dunhill Financial LLC increased its position in shares of ServiceNow by 70.0% during the 3rd quarter. Dunhill Financial LLC now owns 51 shares of the information technology services provider’s stock worth $46,000 after purchasing an additional 21 shares during the last quarter. Institutional investors and hedge funds own 87.18% of the company’s stock.

ServiceNow Stock Performance

Shares of ServiceNow stock opened at $1,072.02 on Friday. The business has a 50-day moving average price of $1,068.39 and a two-hundred day moving average price of $929.31. ServiceNow, Inc. has a 1-year low of $637.99 and a 1-year high of $1,157.90. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.16. The company has a market cap of $220.84 billion, a P/E ratio of 166.72, a PEG ratio of 4.65 and a beta of 0.99.

ServiceNow (NYSE:NOW) last issued its earnings results on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share 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 business had revenue of $2.80 billion during the quarter, compared to the consensus estimate of $2.75 billion. During the same period in the previous year, the company posted $1.21 earnings per share. The firm’s revenue for the quarter was up 22.2% on a year-over-year basis. As a group, analysts anticipate that ServiceNow, Inc. will post 7.07 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts have recently commented on NOW shares. The Goldman Sachs Group lifted their price objective on shares of ServiceNow from $1,050.00 to $1,200.00 and gave the company a “buy” rating in a research report on Friday, January 10th. Piper Sandler lifted their target price on ServiceNow from $1,000.00 to $1,200.00 and gave the stock an “overweight” rating in a research note on Monday, January 6th. StockNews.com upgraded shares of ServiceNow from a “hold” rating to a “buy” rating in a research note on Tuesday, November 12th. JMP Securities increased their price objective on ServiceNow from $850.00 to $1,000.00 and gave the stock a “market outperform” rating in a research report on Thursday, October 17th. Finally, Cantor Fitzgerald initiated coverage on shares of ServiceNow in a report on Friday. They set an “overweight” rating and a $1,332.00 target price on the stock. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-five have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $1,080.38.

Insider Activity at ServiceNow

In other news, CEO William R. Mcdermott sold 12,271 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the chief executive officer now owns 2,595 shares in the company, valued at $2,588,953.65. The trade was a 82.54 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Nicholas Tzitzon sold 313 shares of the stock in a transaction on Monday, November 25th. The stock was sold at an average price of $1,064.60, for a total value of $333,219.80. Following the completion of the transaction, the insider now owns 3,649 shares in the company, valued at approximately $3,884,725.40. This represents a 7.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 20,731 shares of company stock worth $21,016,751 in the last quarter. Company insiders own 0.25% of the company’s stock.

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.