ServiceNow, Inc. $NOW Shares Sold by Teamwork Financial Advisors LLC

Teamwork Financial Advisors LLC lessened its stake in ServiceNow, Inc. (NYSE:NOW) by 10.4% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 571 shares of the information technology services provider’s stock after selling 66 shares during the period. Teamwork Financial Advisors LLC’s holdings in ServiceNow were worth $587,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. GAMMA Investing LLC lifted its holdings in shares of ServiceNow by 87,501.3% in the 1st quarter. GAMMA Investing LLC now owns 2,689,361 shares of the information technology services provider’s stock worth $2,141,108,000 after purchasing an additional 2,686,291 shares during the last quarter. Nuveen LLC bought a new stake in shares of ServiceNow in the 1st quarter worth $1,817,535,000. OVERSEA CHINESE BANKING Corp Ltd grew its stake in shares of ServiceNow by 1,586.5% in the 1st quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 933,209 shares of the information technology services provider’s stock worth $742,965,000 after purchasing an additional 877,875 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of ServiceNow by 131.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,480,526 shares of the information technology services provider’s stock worth $1,178,706,000 after acquiring an additional 840,731 shares during the last quarter. Finally, Parnassus Investments LLC acquired a new stake in ServiceNow during the 1st quarter worth about $519,806,000. 87.18% of the stock is currently owned by institutional investors.

Insider Transactions at ServiceNow

In related news, Vice Chairman Nicholas Tzitzon sold 1,719 shares of the stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $866.45, for a total transaction of $1,489,427.55. Following the sale, the insider owned 3,000 shares of the company’s stock, valued at $2,599,350. This represents a 36.43% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO William R. Mcdermott sold 5,825 shares of the firm’s stock in a transaction dated Thursday, August 28th. The shares were sold at an average price of $916.63, for a total transaction of $5,339,369.75. Following the completion of the transaction, the chief executive officer directly owned 6,614 shares in the company, valued at approximately $6,062,590.82. This represents a 46.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 18,976 shares of company stock valued at $17,049,775. Corporate insiders own 0.38% of the company’s stock.

ServiceNow Trading Down 0.9%

NOW opened at $930.04 on Friday. The firm’s fifty day moving average is $927.34 and its two-hundred day moving average is $922.33. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.09 and a current ratio of 1.09. The firm has a market cap of $193.45 billion, a PE ratio of 117.13, a price-to-earnings-growth ratio of 4.23 and a beta of 0.91. ServiceNow, Inc. has a twelve month low of $678.66 and a twelve month high of $1,198.09.

ServiceNow (NYSE:NOW) last released its quarterly earnings results on Wednesday, July 23rd. The information technology services provider reported $4.09 earnings per share for the quarter, beating the consensus estimate of $3.57 by $0.52. ServiceNow had a net margin of 13.78% and a return on equity of 18.04%. The company had revenue of $3.22 billion during the quarter, compared to analysts’ expectations of $3.12 billion. During the same quarter in the prior year, the company earned $3.13 earnings per share. The business’s quarterly revenue was up 22.4% compared to the same quarter last year. Equities research analysts anticipate that ServiceNow, Inc. will post 8.93 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts recently commented on NOW shares. Oppenheimer restated an “outperform” rating and set a $1,150.00 price target (up from $1,100.00) on shares of ServiceNow in a report on Thursday, July 24th. Citigroup boosted their price objective on shares of ServiceNow from $1,160.00 to $1,234.00 and gave the stock a “buy” rating in a research note on Thursday, July 24th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $1,200.00 target price on shares of ServiceNow in a report on Thursday, July 24th. Wall Street Zen downgraded ServiceNow from a “buy” rating to a “hold” rating in a research report on Saturday, August 30th. Finally, DA Davidson lifted their target price on shares of ServiceNow from $1,150.00 to $1,250.00 and gave the company a “buy” rating in a research report on Thursday, July 24th. One investment analyst has rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $1,115.20.

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.