Gladstone Institutional Advisory LLC Sells 44 Shares of ServiceNow, Inc. (NYSE:NOW)

Gladstone Institutional Advisory LLC trimmed its position in ServiceNow, Inc. (NYSE:NOW) by 5.9% during the fourth quarter, Holdings Channel reports. The institutional investor owned 697 shares of the information technology services provider’s stock after selling 44 shares during the quarter. Gladstone Institutional Advisory LLC’s holdings in ServiceNow were worth $492,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. Larson Financial Group LLC boosted its position in shares of ServiceNow by 269.1% in the 3rd quarter. Larson Financial Group LLC now owns 347 shares of the information technology services provider’s stock worth $194,000 after purchasing an additional 253 shares during the last quarter. MGO One Seven LLC bought a new position in shares of ServiceNow in the 3rd quarter worth $511,000. Corient Private Wealth LLC boosted its position in shares of ServiceNow by 1.5% in the 3rd quarter. Corient Private Wealth LLC now owns 151,937 shares of the information technology services provider’s stock worth $84,930,000 after purchasing an additional 2,214 shares during the last quarter. Signaturefd LLC boosted its position in shares of ServiceNow by 11.1% in the 3rd quarter. Signaturefd LLC now owns 3,124 shares of the information technology services provider’s stock worth $1,746,000 after purchasing an additional 312 shares during the last quarter. Finally, Syon Capital LLC bought a new position in shares of ServiceNow in the 3rd quarter worth $298,000. 87.18% of the stock is currently owned by institutional investors.

Insider Transactions at ServiceNow

In other news, insider Paul John Smith sold 125 shares of the business’s stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $727.38, for a total transaction of $90,922.50. Following the completion of the sale, the insider now owns 3,112 shares in the company, valued at $2,263,606.56. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders sold a total of 917 shares of company stock worth $690,880 over the last quarter. Company insiders own 0.25% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. William Blair reaffirmed an “outperform” rating on shares of ServiceNow in a research note on Tuesday, May 7th. Piper Sandler raised their price objective on ServiceNow from $750.00 to $830.00 and gave the stock an “overweight” rating in a research note on Thursday, January 25th. KeyCorp dropped their price objective on ServiceNow from $1,000.00 to $950.00 and set an “overweight” rating on the stock in a research note on Thursday, April 25th. Mizuho raised their price objective on ServiceNow from $750.00 to $820.00 and gave the stock a “buy” rating in a research note on Thursday, January 25th. Finally, Jefferies Financial Group raised their price objective on ServiceNow from $885.00 to $900.00 and gave the stock a “buy” rating in a research note on Wednesday, April 10th. Three equities research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $808.73.

ServiceNow Trading Down 0.9 %

ServiceNow stock opened at $770.43 on Thursday. ServiceNow, Inc. has a 52 week low of $494.13 and a 52 week high of $815.32. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.05 and a current ratio of 1.05. The stock has a market capitalization of $157.94 billion, a P/E ratio of 82.40, a PEG ratio of 4.87 and a beta of 0.98. The stock has a 50-day simple moving average of $747.63 and a 200 day simple moving average of $730.35.

ServiceNow (NYSE:NOW) last posted its quarterly earnings results on Wednesday, April 24th. The information technology services provider reported $1.82 EPS for the quarter, topping analysts’ consensus estimates of $1.41 by $0.41. ServiceNow had a return on equity of 13.59% and a net margin of 20.34%. The business had revenue of $2.60 billion during the quarter, compared to analysts’ expectations of $2.59 billion. Analysts expect that ServiceNow, Inc. will post 6.5 earnings per share for the current 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.