Daymark Wealth Partners LLC Sells 234 Shares of ServiceNow, Inc. (NYSE:NOW)

Daymark Wealth Partners LLC decreased its position in shares of ServiceNow, Inc. (NYSE:NOW) by 31.5% in the 4th quarter, Holdings Channel reports. The firm owned 508 shares of the information technology services provider’s stock after selling 234 shares during the quarter. Daymark Wealth Partners LLC’s holdings in ServiceNow were worth $539,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. World Investment Advisors LLC raised its stake in ServiceNow by 499,668.1% during the third quarter. World Investment Advisors LLC now owns 4,772,785 shares of the information technology services provider’s stock worth $4,268,731,000 after buying an additional 4,771,830 shares during the last quarter. International Assets Investment Management LLC raised its position in shares of ServiceNow by 89,137.0% in the 3rd quarter. International Assets Investment Management LLC now owns 1,185,067 shares of the information technology services provider’s stock worth $1,059,912,000 after acquiring an additional 1,183,739 shares in the last quarter. Bank of Montreal Can lifted its stake in shares of ServiceNow by 216.6% in the 3rd quarter. Bank of Montreal Can now owns 1,367,875 shares of the information technology services provider’s stock valued at $1,206,178,000 after purchasing an additional 935,848 shares during the period. Wellington Management Group LLP boosted its position in shares of ServiceNow by 24.1% during the 3rd quarter. Wellington Management Group LLP now owns 3,169,531 shares of the information technology services provider’s stock valued at $2,834,797,000 after purchasing an additional 615,797 shares in the last quarter. Finally, FMR LLC grew its stake in ServiceNow by 9.9% during the third quarter. FMR LLC now owns 5,606,394 shares of the information technology services provider’s stock worth $5,014,302,000 after purchasing an additional 502,845 shares during the period. Institutional investors and hedge funds own 87.18% of the company’s stock.

Insider Buying and Selling at ServiceNow

In other ServiceNow news, Director Anita M. Sands sold 2,229 shares of the stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $1,064.60, for a total transaction of $2,372,993.40. Following the completion of the transaction, the director now owns 11,000 shares in the company, valued at $11,710,600. This trade represents a 16.85 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Jacqueline P. Canney sold 76 shares of the business’s 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 transaction 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 trade represents a 2.45 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 20,731 shares of company stock worth $21,016,751 over the last ninety days. 0.25% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research firms have issued reports on NOW. Robert W. Baird increased their price target on ServiceNow from $900.00 to $975.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Cantor Fitzgerald started coverage on shares of ServiceNow in a report on Friday, January 17th. They issued an “overweight” rating and a $1,332.00 price target for the company. Needham & Company LLC upped their price objective on shares of ServiceNow from $1,075.00 to $1,150.00 and gave the company a “buy” rating in a report on Monday, November 25th. The Goldman Sachs Group raised their target price on ServiceNow from $1,050.00 to $1,200.00 and gave the company a “buy” rating in a research note on Friday, January 10th. Finally, Canaccord Genuity Group upped their price target on ServiceNow from $1,000.00 to $1,200.00 and gave the stock a “buy” rating in a research note on Friday, December 20th. 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 company’s stock. Based on data from MarketBeat, ServiceNow presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,093.34.

ServiceNow Stock Up 0.6 %

NOW opened at $1,132.30 on Friday. ServiceNow, Inc. has a twelve month low of $637.99 and a twelve month high of $1,157.90. The company’s 50-day moving average price is $1,072.95 and its two-hundred day moving average price is $938.64. The stock has a market cap of $233.25 billion, a price-to-earnings ratio of 176.10, a PEG ratio of 4.98 and a beta of 0.99. 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 (NYSE:NOW) last posted its quarterly earnings data on Wednesday, October 23rd. The information technology services provider reported $3.72 EPS for the quarter, beating the consensus estimate of $3.46 by $0.26. ServiceNow had a return on equity of 16.03% and a net margin of 12.77%. The business had revenue of $2.80 billion for the quarter, compared to the consensus estimate of $2.75 billion. During the same quarter in the prior year, the business 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, equities analysts expect that ServiceNow, Inc. will post 7.04 earnings per share for the current year.

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.