Legacy Wealth Asset Management LLC Sells 160 Shares of ServiceNow, Inc. (NYSE:NOW)

Legacy Wealth Asset Management LLC lessened its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 5.2% during the first quarter, Holdings Channel.com reports. The firm owned 2,924 shares of the information technology services provider’s stock after selling 160 shares during the period. Legacy Wealth Asset Management LLC’s holdings in ServiceNow were worth $2,229,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in NOW. University of Texas Texas AM Investment Managment Co. bought a new position in ServiceNow in the fourth quarter worth approximately $29,000. AdvisorNet Financial Inc lifted its holdings in shares of ServiceNow by 266.7% in the 4th quarter. AdvisorNet Financial Inc now owns 44 shares of the information technology services provider’s stock worth $31,000 after purchasing an additional 32 shares in the last quarter. Sachetta LLC acquired a new stake in ServiceNow in the 4th quarter valued at $35,000. Disciplined Equity Management Inc. bought a new stake in ServiceNow during the 4th quarter valued at $35,000. Finally, Fortitude Family Office LLC acquired a new position in ServiceNow during the fourth quarter worth $41,000. 87.18% of the stock is currently owned by institutional investors and hedge funds.

ServiceNow Stock Performance

ServiceNow stock traded down $8.19 during trading on Thursday, hitting $785.92. The stock had a trading volume of 577,464 shares, compared to its average volume of 1,202,180. The stock’s 50 day moving average is $729.74 and its two-hundred day moving average is $742.98. ServiceNow, Inc. has a 1 year low of $527.24 and a 1 year high of $815.32. The stock has a market cap of $161.11 billion, a price-to-earnings ratio of 84.06, a price-to-earnings-growth ratio of 4.98 and a beta of 0.99. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.18.

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

Analyst Ratings Changes

Several equities research analysts have recently commented on NOW shares. Citigroup boosted their target price on shares of ServiceNow from $896.00 to $906.00 and gave the stock a “buy” rating in a research report on Thursday, April 18th. JMP Securities reissued a “market outperform” rating and set a $825.00 price objective on shares of ServiceNow in a report on Tuesday, May 7th. William Blair reissued an “outperform” rating on shares of ServiceNow in a research note on Tuesday, May 7th. StockNews.com cut ServiceNow from a “buy” rating to a “hold” rating in a research report on Friday, April 26th. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $820.00 price target on shares of ServiceNow in a research report on Tuesday. Three analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $813.28.

Insiders Place Their Bets

In other news, insider Nicholas Tzitzon sold 2,000 shares of the business’s stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $690.99, for a total value of $1,381,980.00. Following the sale, the insider now owns 3,649 shares of the company’s stock, valued at $2,521,422.51. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other ServiceNow news, insider Paul John Smith sold 125 shares of ServiceNow stock in a transaction dated 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 transaction, the insider now owns 3,112 shares of the company’s stock, valued at approximately $2,263,606.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Nicholas Tzitzon sold 2,000 shares of the stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $690.99, for a total transaction of $1,381,980.00. Following the completion of the sale, the insider now directly owns 3,649 shares in the company, valued at $2,521,422.51. The disclosure for this sale can be found here. Insiders sold 5,530 shares of company stock worth $3,997,012 over the last quarter. 0.25% of the stock is currently owned by company insiders.

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.