Stablepoint Partners LLC Reduces Holdings in ServiceNow, Inc. (NYSE:NOW)

Stablepoint Partners LLC trimmed its stake in ServiceNow, Inc. (NYSE:NOW) by 2.9% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,506 shares of the information technology services provider’s stock after selling 45 shares during the period. Stablepoint Partners LLC’s holdings in ServiceNow were worth $1,597,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of NOW. Truvestments Capital LLC purchased a new position in shares of ServiceNow during the 3rd quarter valued at about $30,000. DT Investment Partners LLC raised its stake 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 worth $35,000 after acquiring an additional 17 shares during the period. Oakworth Capital Inc. lifted its holdings in ServiceNow by 46.7% during the third quarter. Oakworth Capital Inc. now owns 44 shares of the information technology services provider’s stock valued at $39,000 after purchasing an additional 14 shares in the last quarter. Dunhill Financial LLC boosted its position in shares of ServiceNow by 70.0% in the third quarter. Dunhill Financial LLC now owns 51 shares of the information technology services provider’s stock worth $46,000 after purchasing an additional 21 shares during the period. Finally, Vestor Capital LLC purchased a new stake in shares of ServiceNow in the third quarter worth $48,000. Institutional investors own 87.18% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on NOW. Morgan Stanley downgraded shares of ServiceNow from an “overweight” rating to an “equal weight” rating and upped their target price for the stock from $900.00 to $960.00 in a report on Monday, October 21st. Citigroup upped their price objective on ServiceNow from $1,068.00 to $1,071.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. Stifel Nicolaus lifted their target price on ServiceNow from $900.00 to $990.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. Guggenheim restated a “sell” rating and issued a $716.00 price target on shares of ServiceNow in a research note on Wednesday. Finally, Jefferies Financial Group lifted their price objective on shares of ServiceNow from $1,100.00 to $1,250.00 and gave the company a “buy” rating in a research report on Monday, December 2nd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-five have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $1,093.34.

ServiceNow Trading Down 0.8 %

NOW opened at $1,124.64 on Friday. The stock’s 50 day moving average price is $1,077.07 and its 200-day moving average price is $942.47. The stock has a market cap of $231.68 billion, a price-to-earnings ratio of 174.91, a P/E/G ratio of 5.11 and a beta of 0.99. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.13 and a current ratio of 1.13. 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, topping analysts’ consensus estimates of $3.46 by $0.26. ServiceNow had a net margin of 12.77% and a return on equity of 16.03%. The business had revenue of $2.80 billion for the quarter, compared to analyst estimates of $2.75 billion. During the same period last year, the company posted $1.21 earnings per share. The company’s quarterly revenue was up 22.2% compared to the same quarter last year. On average, equities analysts forecast that ServiceNow, Inc. will post 7.06 EPS for the current year.

Insider Transactions at ServiceNow

In other ServiceNow news, insider Jacqueline P. Canney sold 455 shares of ServiceNow stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $1,058.54, for a total value of $481,635.70. Following the transaction, the insider now directly owns 3,027 shares of the company’s stock, valued at approximately $3,204,200.58. The trade was a 13.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 value of $12,242,408.57. Following the transaction, the chief executive officer now directly 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 disclosure for this sale can be found here. In the last 90 days, insiders have sold 20,731 shares of company stock valued at $21,016,751. 0.25% of the stock is currently owned by corporate insiders.

About ServiceNow

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.