Nwam LLC Sells 220 Shares of ServiceNow, Inc. (NYSE:NOW)

Nwam LLC lowered its position in shares of ServiceNow, Inc. (NYSE:NOW) by 3.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 6,107 shares of the information technology services provider’s stock after selling 220 shares during the quarter. Nwam LLC’s holdings in ServiceNow were worth $5,462,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the business. Creekmur Asset Management LLC purchased a new position in ServiceNow during the 1st quarter valued at about $25,000. Versant Capital Management Inc increased its stake in shares of ServiceNow by 466.7% during the second quarter. Versant Capital Management Inc now owns 34 shares of the information technology services provider’s stock valued at $27,000 after purchasing an additional 28 shares in the last quarter. EntryPoint Capital LLC lifted its holdings in shares of ServiceNow by 3,900.0% during the first quarter. EntryPoint Capital LLC now owns 40 shares of the information technology services provider’s stock valued at $30,000 after purchasing an additional 39 shares during the last quarter. Ridgewood Investments LLC bought a new stake in shares of ServiceNow in the 2nd quarter worth approximately $32,000. Finally, DT Investment Partners LLC increased its position in ServiceNow by 77.3% during the 3rd quarter. DT Investment Partners LLC now owns 39 shares of the information technology services provider’s stock valued at $35,000 after buying an additional 17 shares in the last quarter. Institutional investors own 87.18% of the company’s stock.

ServiceNow Stock Performance

Shares of NOW stock opened at $1,053.46 on Friday. The firm has a market cap of $217.01 billion, a price-to-earnings ratio of 163.04, a PEG ratio of 5.87 and a beta of 0.98. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.16. ServiceNow, Inc. has a 52-week low of $637.99 and a 52-week high of $1,061.66. The company’s 50 day moving average is $944.90 and its 200 day moving average is $832.32.

ServiceNow (NYSE:NOW) last issued its quarterly earnings data on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.46 by $0.26. The firm had revenue of $2.80 billion for the quarter, compared to the consensus estimate of $2.75 billion. ServiceNow had a net margin of 12.77% and a return on equity of 16.03%. The company’s quarterly revenue was up 22.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.21 EPS. On average, sell-side analysts anticipate that ServiceNow, Inc. will post 7.07 EPS for the current fiscal year.

Insider Transactions at ServiceNow

In other news, CEO William R. Mcdermott sold 12,271 shares of the company’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $997.67, for a total transaction of $12,242,408.57. Following the transaction, the chief executive officer now owns 2,595 shares in the company, valued at $2,588,953.65. This represents a 82.54 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Jeffrey A. Miller sold 2,879 shares of ServiceNow stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $1,019.12, for a total transaction of $2,934,046.48. Following the sale, the director now owns 42,920 shares of the company’s stock, valued at $43,740,630.40. The trade was a 6.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 19,644 shares of company stock valued at $19,381,744 in the last quarter. 0.25% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Deutsche Bank Aktiengesellschaft raised their price objective 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. StockNews.com upgraded ServiceNow from a “hold” rating to a “buy” rating in a research report on Tuesday, November 12th. Truist Financial lifted their price target on shares of ServiceNow from $780.00 to $900.00 and gave the stock a “hold” rating in a research note on Wednesday, October 23rd. UBS Group boosted their price objective on ServiceNow from $900.00 to $1,055.00 and gave the company a “buy” rating in a research note on Tuesday, October 8th. Finally, JPMorgan Chase & Co. upped their target price on shares of ServiceNow from $820.00 to $950.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, twenty-six have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $986.39.

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.