Luts & Greenleigh Group Inc. Sells 15 Shares of ServiceNow, Inc. (NYSE:NOW)

Luts & Greenleigh Group Inc. trimmed its stake in ServiceNow, Inc. (NYSE:NOW) by 5.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 269 shares of the information technology services provider’s stock after selling 15 shares during the period. Luts & Greenleigh Group Inc.’s holdings in ServiceNow were worth $285,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Polymer Capital Management HK LTD lifted its stake in ServiceNow by 57.0% in the third quarter. Polymer Capital Management HK LTD now owns 2,701 shares of the information technology services provider’s stock worth $2,416,000 after purchasing an additional 981 shares during the last quarter. AXA S.A. lifted its stake in shares of ServiceNow by 1.1% during the 2nd quarter. AXA S.A. now owns 387,344 shares of the information technology services provider’s stock worth $304,712,000 after acquiring an additional 4,271 shares during the last quarter. Avidian Wealth Enterprises LLC boosted its holdings in ServiceNow by 39.4% during the 3rd quarter. Avidian Wealth Enterprises LLC now owns 488 shares of the information technology services provider’s stock valued at $436,000 after acquiring an additional 138 shares during the period. Venturi Wealth Management LLC increased its stake in ServiceNow by 36.4% in the third quarter. Venturi Wealth Management LLC now owns 2,868 shares of the information technology services provider’s stock worth $2,565,000 after purchasing an additional 765 shares during the period. Finally, Cardano Risk Management B.V. bought a new stake in shares of ServiceNow during the fourth quarter worth $105,090,000. Institutional investors own 87.18% of the company’s stock.

Insider Buying and Selling at ServiceNow

In other ServiceNow news, CEO William R. Mcdermott sold 12,271 shares of the company’s stock in a transaction on 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 completion of the transaction, the chief executive officer now directly owns 2,595 shares in the company, valued at approximately $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 accessible through this hyperlink. Also, insider Jacqueline P. Canney sold 66 shares of the firm’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $1,048.29, for a total transaction of $69,187.14. Following the completion of the transaction, the insider now directly owns 3,027 shares in the company, valued at $3,173,173.83. This represents a 2.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 20,731 shares of company stock worth $21,016,751. Company insiders own 0.25% of the company’s stock.

ServiceNow Stock Performance

Shares of NOW opened at $1,097.53 on Wednesday. The stock has a 50-day moving average of $1,071.36 and a two-hundred day moving average of $937.32. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.13 and a current ratio of 1.13. The stock has a market cap of $226.09 billion, a P/E ratio of 170.69, a P/E/G ratio of 4.85 and a beta of 0.99. ServiceNow, Inc. has a one year low of $637.99 and a one year high of $1,157.90.

ServiceNow (NYSE:NOW) last issued its earnings results on Wednesday, October 23rd. The information technology services provider reported $3.72 EPS for the quarter, beating analysts’ consensus estimates of $3.46 by $0.26. ServiceNow had a return on equity of 16.03% and a net margin of 12.77%. The firm had revenue of $2.80 billion for the quarter, compared to analyst estimates of $2.75 billion. During the same quarter in the prior year, the firm earned $1.21 earnings per share. ServiceNow’s revenue for the quarter was up 22.2% on a year-over-year basis. As a group, research analysts predict that ServiceNow, Inc. will post 7.06 EPS for the current year.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Scotiabank initiated coverage on shares of ServiceNow in a research note on Tuesday, November 19th. They issued a “sector outperform” rating and a $1,230.00 price target on the stock. JMP Securities lifted their price target on shares of ServiceNow from $1,000.00 to $1,300.00 and gave the company a “market outperform” rating in a research note on Tuesday. Robert W. Baird increased their price objective on ServiceNow from $900.00 to $975.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. KeyCorp cut ServiceNow from an “overweight” rating to a “sector weight” rating in a report on Friday, December 13th. Finally, Needham & Company LLC raised their price target on ServiceNow from $1,075.00 to $1,150.00 and gave the company a “buy” rating in a research note on Monday, November 25th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-five have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, ServiceNow currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,090.72.

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.