Y.D. More Investments Ltd Trims Stake in ServiceNow, Inc. (NYSE:NOW)

Y.D. More Investments Ltd lessened its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 4.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,619 shares of the information technology services provider’s stock after selling 223 shares during the quarter. Y.D. More Investments Ltd’s holdings in ServiceNow were worth $3,634,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Sepio Capital LP raised its stake in ServiceNow by 7.8% during the 4th quarter. Sepio Capital LP now owns 1,171 shares of the information technology services provider’s stock worth $827,000 after acquiring an additional 85 shares during the period. Cary Street Partners Investment Advisory LLC lifted its stake in shares of ServiceNow by 88.1% during the 4th quarter. Cary Street Partners Investment Advisory LLC now owns 696 shares of the information technology services provider’s stock valued at $492,000 after buying an additional 326 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in ServiceNow by 2.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 231,144 shares of the information technology services provider’s stock worth $163,300,000 after buying an additional 6,370 shares during the period. Avantax Advisory Services Inc. increased its stake in ServiceNow by 17.1% in the 4th quarter. Avantax Advisory Services Inc. now owns 3,486 shares of the information technology services provider’s stock worth $2,463,000 after buying an additional 508 shares in the last quarter. Finally, Moran Wealth Management LLC bought a new stake in ServiceNow during the fourth quarter valued at about $513,000. Institutional investors own 87.18% of the company’s stock.

Insider Transactions at ServiceNow

In other news, insider Nicholas Tzitzon sold 1,857 shares of the company’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $829.68, for a total value of $1,540,715.76. Following the transaction, the insider now directly owns 3,649 shares in the company, valued at $3,027,502.32. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, insider Jacqueline P. Canney sold 94 shares of ServiceNow stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $825.92, for a total transaction of $77,636.48. Following the completion of the sale, the insider now owns 4,019 shares of the company’s stock, valued at $3,319,372.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Nicholas Tzitzon sold 1,857 shares of the stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $829.68, for a total value of $1,540,715.76. Following the completion of the transaction, the insider now directly owns 3,649 shares in the company, valued at approximately $3,027,502.32. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 6,914 shares of company stock worth $5,608,936. 0.25% of the stock is currently owned by insiders.

ServiceNow Stock Up 1.7 %

Shares of NYSE:NOW opened at $875.17 on Thursday. The firm has a market capitalization of $179.41 billion, a PE ratio of 93.60, a price-to-earnings-growth ratio of 4.95 and a beta of 0.98. The business has a 50 day simple moving average of $803.76 and a two-hundred day simple moving average of $764.97. ServiceNow, Inc. has a 1 year low of $527.24 and a 1 year high of $877.62. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.12 and a quick ratio of 1.12.

ServiceNow (NYSE:NOW) last issued its quarterly earnings results on Wednesday, July 24th. The information technology services provider reported $3.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.85 by $0.28. The firm had revenue of $2.63 billion during the quarter, compared to analyst estimates of $2.61 billion. ServiceNow had a return on equity of 14.52% and a net margin of 11.51%. ServiceNow’s quarterly revenue was up 22.2% compared to the same quarter last year. During the same period last year, the company earned $0.77 EPS. On average, equities analysts predict that ServiceNow, Inc. will post 6.78 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on NOW. JMP Securities upped their price objective on ServiceNow from $825.00 to $850.00 and gave the stock a “market outperform” rating in a research note on Thursday, July 25th. Stifel Nicolaus increased their price objective on shares of ServiceNow from $820.00 to $900.00 and gave the company a “buy” rating in a report on Thursday, July 25th. Piper Sandler boosted their target price on shares of ServiceNow from $830.00 to $850.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. Deutsche Bank Aktiengesellschaft raised their target price on shares of ServiceNow from $875.00 to $900.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Finally, Royal Bank of Canada increased their price objective on shares of ServiceNow from $850.00 to $880.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-five have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $849.62.

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.