ServiceNow, Inc. (NYSE:NOW) Shares Sold by Donoghue Forlines LLC

Donoghue Forlines LLC lessened its stake in ServiceNow, Inc. (NYSE:NOW) by 40.3% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 1,861 shares of the information technology services provider’s stock after selling 1,254 shares during the period. Donoghue Forlines LLC’s holdings in ServiceNow were worth $1,973,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently modified their holdings of NOW. State Street Corp boosted its position in ServiceNow by 2.6% in the 3rd quarter. State Street Corp now owns 9,077,547 shares of the information technology services provider’s stock worth $8,118,867,000 after purchasing an additional 226,023 shares in the last quarter. FMR LLC lifted its stake in shares of ServiceNow by 9.9% in the 3rd quarter. FMR LLC now owns 5,606,394 shares of the information technology services provider’s stock valued at $5,014,302,000 after purchasing an additional 502,845 shares during the period. World Investment Advisors LLC lifted its stake in shares of ServiceNow by 499,668.1% in the 3rd quarter. World Investment Advisors LLC now owns 4,772,785 shares of the information technology services provider’s stock valued at $4,268,731,000 after purchasing an additional 4,771,830 shares during the period. Geode Capital Management LLC grew its position in ServiceNow by 1.9% during the third quarter. Geode Capital Management LLC now owns 4,211,901 shares of the information technology services provider’s stock valued at $3,753,828,000 after buying an additional 78,378 shares during the period. Finally, Wellington Management Group LLP increased its holdings in ServiceNow by 24.1% in the third quarter. Wellington Management Group LLP now owns 3,169,531 shares of the information technology services provider’s stock valued at $2,834,797,000 after buying an additional 615,797 shares in the last quarter. Hedge funds and other institutional investors own 87.18% of the company’s stock.

ServiceNow Stock Performance

NYSE NOW opened at $1,122.40 on Thursday. The stock has a fifty day simple moving average of $1,072.95 and a 200-day simple moving average of $938.64. 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 stock has a market cap of $231.21 billion, a PE ratio of 174.35, a P/E/G ratio of 4.98 and a beta of 0.99. ServiceNow, Inc. has a twelve month low of $637.99 and a twelve month high of $1,157.90.

ServiceNow (NYSE:NOW) last announced its earnings results on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share (EPS) for the quarter, beating 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 company had revenue of $2.80 billion for the quarter, compared to analyst estimates of $2.75 billion. During the same quarter in the previous year, the company earned $1.21 earnings per share. The firm’s quarterly revenue was up 22.2% compared to the same quarter last year. Equities analysts anticipate that ServiceNow, Inc. will post 7.04 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on NOW. Stifel Nicolaus lifted their price target on ServiceNow from $900.00 to $990.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. Barclays boosted their price objective on ServiceNow from $980.00 to $1,000.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th. Piper Sandler increased their target price on ServiceNow from $1,000.00 to $1,200.00 and gave the company an “overweight” rating in a research report on Monday, January 6th. JMP Securities boosted their price target on shares of ServiceNow from $1,000.00 to $1,300.00 and gave the stock a “market outperform” rating in a report on Tuesday. Finally, Royal Bank of Canada increased their price objective on shares of ServiceNow from $1,045.00 to $1,210.00 and gave the company an “outperform” rating in a report on Friday, January 3rd. One equities research 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 company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $1,093.34.

Insider Activity at ServiceNow

In other ServiceNow news, Director Anita M. Sands sold 2,229 shares of the business’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $1,064.60, for a total value of $2,372,993.40. Following the completion of the transaction, the director now owns 11,000 shares in the company, valued at $11,710,600. The trade was a 16.85 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, 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 value of $12,242,408.57. Following the transaction, the chief executive officer now directly owns 2,595 shares of the company’s stock, valued at $2,588,953.65. The trade was a 82.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 20,731 shares of company stock worth $21,016,751. 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.