Farrell Financial LLC Reduces Position in ServiceNow, Inc. (NYSE:NOW)

Farrell Financial LLC lessened its stake in shares of ServiceNow, Inc. (NYSE:NOWFree Report) by 5.1% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 371 shares of the information technology services provider’s stock after selling 20 shares during the period. Farrell Financial LLC’s holdings in ServiceNow were worth $393,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in NOW. Redhawk Wealth Advisors Inc. raised its position in ServiceNow by 2.2% during the 4th quarter. Redhawk Wealth Advisors Inc. now owns 459 shares of the information technology services provider’s stock worth $487,000 after buying an additional 10 shares during the last quarter. Catalyst Financial Partners LLC increased its position in shares of ServiceNow by 1.0% in the third quarter. Catalyst Financial Partners LLC now owns 1,146 shares of the information technology services provider’s stock valued at $1,025,000 after buying an additional 11 shares in the last quarter. First Affirmative Financial Network raised its position in shares of ServiceNow by 1.4% during the 3rd quarter. First Affirmative Financial Network now owns 895 shares of the information technology services provider’s stock worth $801,000 after purchasing an additional 12 shares during the last quarter. Capital Advisors Ltd. LLC boosted its stake in shares of ServiceNow by 14.6% in the third quarter. Capital Advisors Ltd. LLC now owns 94 shares of the information technology services provider’s stock worth $84,000 after acquiring an additional 12 shares during the last quarter. Finally, BluePointe Capital Management LLC grew its holdings in shares of ServiceNow by 0.6% during the third quarter. BluePointe Capital Management LLC now owns 2,014 shares of the information technology services provider’s stock worth $1,801,000 after buying an additional 12 shares in the last quarter. 87.18% of the stock is owned by hedge funds and other institutional investors.

ServiceNow Price Performance

Shares of NOW stock opened at $1,097.53 on Wednesday. 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 12-month low of $637.99 and a 12-month high of $1,157.90. The firm has a fifty day moving average of $1,070.37 and a 200-day moving average of $935.27. The firm has a market capitalization of $226.09 billion, a price-to-earnings ratio of 170.69, a price-to-earnings-growth ratio of 4.85 and a beta of 0.99.

ServiceNow (NYSE:NOWGet Free Report) last posted its earnings results on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.46 by $0.26. The firm had revenue of $2.80 billion during the quarter, compared to analysts’ expectations of $2.75 billion. ServiceNow had a return on equity of 16.03% and a net margin of 12.77%. The company’s revenue was up 22.2% on a year-over-year basis. During the same period in the previous year, the firm earned $1.21 earnings per share. On average, equities research analysts forecast that ServiceNow, Inc. will post 7.06 earnings per share for the current year.

Analyst Ratings Changes

Several research firms have recently commented on NOW. StockNews.com upgraded ServiceNow from a “hold” rating to a “buy” rating in a report on Tuesday, November 12th. Piper Sandler lifted their target price on ServiceNow from $1,000.00 to $1,200.00 and gave the company an “overweight” rating in a research report on Monday, January 6th. KeyCorp cut ServiceNow from an “overweight” rating to a “sector weight” rating in a research note on Friday, December 13th. Truist Financial boosted their price target on shares of ServiceNow from $900.00 to $1,100.00 and gave the stock a “hold” rating in a report on Thursday, December 12th. Finally, UBS Group raised their price objective on shares of ServiceNow from $900.00 to $1,055.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. One research analyst has rated the stock with a sell rating, three have given a hold rating, twenty-five have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, ServiceNow currently has a consensus rating of “Moderate Buy” and an average price target of $1,090.72.

Check Out Our Latest Report on NOW

Insider Activity

In other news, General Counsel Russell S. Elmer sold 81 shares of the company’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $1,016.54, for a total transaction of $82,339.74. Following the completion of the transaction, the general counsel now directly owns 6,843 shares of the company’s stock, valued at $6,956,183.22. This represents a 1.17 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jacqueline P. Canney sold 76 shares of ServiceNow stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $1,010.94, for a total value of $76,831.44. Following the completion of the sale, the insider now directly owns 3,027 shares in the company, valued at approximately $3,060,115.38. This represents a 2.45 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 20,731 shares of company stock worth $21,016,751 in the last 90 days. Corporate insiders own 0.25% of the company’s stock.

About ServiceNow

(Free Report)

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.

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Institutional Ownership by Quarter for ServiceNow (NYSE:NOW)

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