Sequoia Financial Advisors LLC Sells 5,131 Shares of ServiceNow, Inc. $NOW

Sequoia Financial Advisors LLC lowered its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 44.0% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 6,525 shares of the information technology services provider’s stock after selling 5,131 shares during the period. Sequoia Financial Advisors LLC’s holdings in ServiceNow were worth $6,708,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Haverford Trust Co lifted its stake in ServiceNow by 0.9% during the 1st quarter. Haverford Trust Co now owns 1,176 shares of the information technology services provider’s stock valued at $936,000 after acquiring an additional 10 shares during the period. Ascent Group LLC increased its position in shares of ServiceNow by 0.5% during the 1st quarter. Ascent Group LLC now owns 2,045 shares of the information technology services provider’s stock valued at $1,628,000 after purchasing an additional 10 shares during the last quarter. Edgemoor Investment Advisors Inc. increased its position in shares of ServiceNow by 2.5% during the 1st quarter. Edgemoor Investment Advisors Inc. now owns 459 shares of the information technology services provider’s stock valued at $366,000 after purchasing an additional 11 shares during the last quarter. Integrated Investment Consultants LLC increased its position in shares of ServiceNow by 2.5% during the 1st quarter. Integrated Investment Consultants LLC now owns 450 shares of the information technology services provider’s stock valued at $358,000 after purchasing an additional 11 shares during the last quarter. Finally, one8zero8 LLC increased its position in shares of ServiceNow by 3.2% during the 1st quarter. one8zero8 LLC now owns 356 shares of the information technology services provider’s stock valued at $283,000 after purchasing an additional 11 shares during the last quarter. Institutional investors own 87.18% of the company’s stock.

ServiceNow Trading Up 3.9%

ServiceNow stock opened at $923.44 on Tuesday. The firm has a 50 day moving average of $909.24 and a 200 day moving average of $933.88. The firm has a market capitalization of $192.07 billion, a price-to-earnings ratio of 116.30, a P/E/G ratio of 4.00 and a beta of 0.92. ServiceNow, Inc. has a 12-month low of $678.66 and a 12-month high of $1,198.09. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.14.

ServiceNow (NYSE:NOW) last announced its quarterly earnings data on Wednesday, July 23rd. The information technology services provider reported $4.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.57 by $0.52. ServiceNow had a net margin of 13.78% and a return on equity of 18.04%. The business had revenue of $3.22 billion during the quarter, compared to analyst estimates of $3.12 billion. During the same period last year, the firm posted $3.13 EPS. The company’s revenue was up 22.4% on a year-over-year basis. As a group, research analysts predict that ServiceNow, Inc. will post 8.93 earnings per share for the current year.

Insider Buying and Selling at ServiceNow

In other ServiceNow news, CEO William R. Mcdermott sold 5,825 shares of the stock in a transaction that occurred on 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 sale, the chief executive officer directly owned 6,614 shares of the company’s stock, valued at $6,062,590.82. This trade represents a 46.83% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Anita M. Sands sold 1,097 shares of the stock in a transaction that occurred on Friday, August 29th. The shares were sold at an average price of $915.11, for a total transaction of $1,003,875.67. Following the sale, the director directly owned 9,307 shares of the company’s stock, valued at approximately $8,516,928.77. This trade represents a 10.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 18,737 shares of company stock worth $16,798,825. Insiders own 0.38% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on NOW shares. Oppenheimer reaffirmed an “outperform” rating and set a $1,150.00 price target (up previously from $1,100.00) on shares of ServiceNow in a research report on Thursday, July 24th. UBS Group reduced their price target on shares of ServiceNow from $1,125.00 to $1,100.00 and set a “buy” rating for the company in a research report on Thursday, July 24th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $1,200.00 price target on shares of ServiceNow in a research report on Thursday, July 24th. Morgan Stanley raised shares of ServiceNow from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $1,040.00 to $1,250.00 in a research report on Wednesday, September 24th. Finally, JMP Securities reissued a “market outperform” rating and issued a $1,300.00 target price on shares of ServiceNow in a report on Monday, August 4th. One research analyst has rated the stock with a Strong Buy rating, thirty have given a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $1,122.20.

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.