Westover Capital Advisors LLC Has $3.81 Million Holdings in ServiceNow, Inc. (NYSE:NOW)

Westover Capital Advisors LLC lessened its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 8.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 4,840 shares of the information technology services provider’s stock after selling 440 shares during the quarter. ServiceNow accounts for approximately 1.0% of Westover Capital Advisors LLC’s holdings, making the stock its 23rd largest holding. Westover Capital Advisors LLC’s holdings in ServiceNow were worth $3,807,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Creekmur Asset Management LLC acquired a new stake in ServiceNow during the 1st quarter worth $25,000. Versant Capital Management Inc raised its stake in ServiceNow by 466.7% during the 2nd quarter. Versant Capital Management Inc now owns 34 shares of the information technology services provider’s stock worth $27,000 after buying an additional 28 shares during the period. EntryPoint Capital LLC increased its holdings in ServiceNow by 3,900.0% during the 1st quarter. EntryPoint Capital LLC now owns 40 shares of the information technology services provider’s stock worth $30,000 after purchasing an additional 39 shares in the last quarter. University of Texas Texas AM Investment Managment Co. bought a new position in ServiceNow during the 4th quarter worth about $29,000. Finally, Ridgewood Investments LLC bought a new position in ServiceNow during the 2nd quarter worth about $32,000. Institutional investors and hedge funds own 87.18% of the company’s stock.

ServiceNow Stock Performance

Shares of NYSE:NOW opened at $878.95 on Friday. The company’s 50 day simple moving average is $807.22 and its 200 day simple moving average is $766.50. The stock has a market capitalization of $181.06 billion, a price-to-earnings ratio of 94.01, a price-to-earnings-growth ratio of 5.25 and a beta of 0.98. 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, Inc. has a 1 year low of $527.24 and a 1 year high of $889.52.

ServiceNow (NYSE:NOW) last announced its quarterly earnings data on Wednesday, July 24th. The information technology services provider reported $3.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.85 by $0.28. The business had revenue of $2.63 billion for the quarter, compared to analysts’ expectations of $2.61 billion. ServiceNow had a net margin of 11.51% and a return on equity of 14.52%. The firm’s quarterly revenue was up 22.2% compared to the same quarter last year. During the same period last year, the firm posted $0.77 earnings per share. As a group, research analysts predict that ServiceNow, Inc. will post 6.78 EPS for the current fiscal year.

Insiders Place Their Bets

In other ServiceNow news, insider Nicholas Tzitzon sold 1,857 shares of the business’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $829.68, for a total transaction of $1,540,715.76. Following the sale, the insider now owns 3,649 shares of the company’s stock, valued at $3,027,502.32. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, General Counsel Russell S. Elmer sold 1,937 shares of the business’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $779.81, for a total value of $1,510,491.97. Following the sale, the general counsel now owns 6,736 shares of the company’s stock, valued at $5,252,800.16. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Nicholas Tzitzon sold 1,857 shares of the business’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $829.68, for a total transaction of $1,540,715.76. Following the completion of the sale, 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 quarter, insiders have sold 6,914 shares of company stock valued at $5,608,936. 0.25% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research firms have issued reports on NOW. TD Cowen increased their target price on ServiceNow from $870.00 to $900.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. Canaccord Genuity Group reiterated a “buy” rating and set a $835.00 target price on shares of ServiceNow in a report on Tuesday, July 23rd. Wells Fargo & Company increased their target price on ServiceNow from $920.00 to $935.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. Citigroup increased their target price on ServiceNow from $909.00 to $911.00 and gave the stock a “buy” rating in a report on Wednesday, July 17th. Finally, Piper Sandler raised their price objective on ServiceNow from $830.00 to $850.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. One equities research 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’s stock. Based on data from MarketBeat.com, ServiceNow 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.