Larson Financial Group LLC Has $221,000 Position in ServiceNow, Inc. (NYSE:NOW)

Larson Financial Group LLC lowered its stake in ServiceNow, Inc. (NYSE:NOW) by 9.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 313 shares of the information technology services provider’s stock after selling 34 shares during the period. Larson Financial Group LLC’s holdings in ServiceNow were worth $221,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Sandbox Financial Partners LLC increased its holdings in shares of ServiceNow by 8.6% in the fourth quarter. Sandbox Financial Partners LLC now owns 835 shares of the information technology services provider’s stock valued at $590,000 after purchasing an additional 66 shares in the last quarter. Federated Hermes Inc. grew its holdings in ServiceNow by 19.8% during the 4th quarter. Federated Hermes Inc. now owns 300,122 shares of the information technology services provider’s stock worth $212,033,000 after acquiring an additional 49,631 shares during the period. Raymond James & Associates grew its holdings in ServiceNow by 5.9% during the 4th quarter. Raymond James & Associates now owns 331,406 shares of the information technology services provider’s stock worth $234,135,000 after acquiring an additional 18,442 shares during the period. Sequoia Financial Advisors LLC grew its holdings in ServiceNow by 15.4% during the 4th quarter. Sequoia Financial Advisors LLC now owns 25,726 shares of the information technology services provider’s stock worth $18,175,000 after acquiring an additional 3,438 shares during the period. Finally, Fifth Third Bancorp grew its holdings in ServiceNow by 4.7% during the 4th quarter. Fifth Third Bancorp now owns 70,150 shares of the information technology services provider’s stock worth $49,560,000 after acquiring an additional 3,154 shares during the period. Institutional investors and hedge funds own 87.18% of the company’s stock.

Insider Transactions at ServiceNow

In other news, insider Paul John Smith sold 5,159 shares of the stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $745.32, for a total transaction of $3,845,105.88. Following the completion of the sale, the insider now directly owns 5,453 shares in the company, valued at $4,064,229.96. The transaction was disclosed in a filing with the SEC, which is available at this link. In other news, insider Paul John Smith sold 5,159 shares of the stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $745.32, for a total transaction of $3,845,105.88. Following the completion of the sale, the insider now directly owns 5,453 shares in the company, valued at $4,064,229.96. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO William R. Mcdermott sold 5,030 shares of the firm’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $753.08, for a total transaction of $3,787,992.40. Following the completion of the sale, the chief executive officer now owns 17,177 shares of the company’s stock, valued at $12,935,655.16. The disclosure for this sale can be found here. Insiders sold a total of 13,164 shares of company stock worth $9,940,303 over the last three months. 0.25% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

NOW has been the subject of a number of analyst reports. Guggenheim reaffirmed a “neutral” rating on shares of ServiceNow in a report on Monday, April 15th. Citigroup boosted their price objective on shares of ServiceNow from $896.00 to $906.00 and gave the company a “buy” rating in a research report on Thursday, April 18th. Wells Fargo & Company boosted their price objective on shares of ServiceNow from $875.00 to $900.00 and gave the company an “overweight” rating in a research report on Tuesday, April 16th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $820.00 price objective on shares of ServiceNow in a research report on Wednesday, March 20th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $900.00 price objective on shares of ServiceNow in a research report on Thursday. Three equities research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $779.63.

ServiceNow Price Performance

NOW stock opened at $746.39 on Thursday. The company has a fifty day moving average price of $761.32 and a 200-day moving average price of $706.74. The company has a market capitalization of $153.29 billion, a P/E ratio of 88.75, a PEG ratio of 4.68 and a beta of 0.97. ServiceNow, Inc. has a 52-week low of $427.68 and a 52-week high of $815.32. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.06 and a current ratio of 1.06.

ServiceNow (NYSE:NOW) last posted its quarterly earnings data on Wednesday, January 24th. The information technology services provider reported $3.11 earnings per share for the quarter, topping the consensus estimate of $2.77 by $0.34. ServiceNow had a net margin of 19.30% and a return on equity of 11.85%. The company had revenue of $2.44 billion during the quarter, compared to analysts’ expectations of $2.40 billion. During the same period in the prior year, the company posted $0.88 earnings per share. ServiceNow’s revenue for the quarter was up 25.6% compared to the same quarter last year. As a group, equities analysts expect that ServiceNow, Inc. will post 6.16 EPS for the current year.

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.