HB Wealth Management LLC Sells 11,638 Shares of ServiceNow, Inc. $NOW

HB Wealth Management LLC lessened its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 23.2% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 38,426 shares of the information technology services provider’s stock after selling 11,638 shares during the period. HB Wealth Management LLC’s holdings in ServiceNow were worth $3,815,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. CBIZ Investment Advisory Services LLC lifted its holdings in ServiceNow by 540.0% during the 4th quarter. CBIZ Investment Advisory Services LLC now owns 160 shares of the information technology services provider’s stock worth $25,000 after buying an additional 135 shares during the period. Blueline Advisors LLC bought a new stake in shares of ServiceNow in the 4th quarter valued at about $25,000. Measured Wealth Private Client Group LLC increased its stake in shares of ServiceNow by 560.0% in the fourth quarter. Measured Wealth Private Client Group LLC now owns 165 shares of the information technology services provider’s stock valued at $25,000 after buying an additional 140 shares during the period. Wealth Watch Advisors INC raised its position in shares of ServiceNow by 432.3% during the fourth quarter. Wealth Watch Advisors INC now owns 165 shares of the information technology services provider’s stock worth $25,000 after acquiring an additional 134 shares during the last quarter. Finally, Bank of Jackson Hole Trust lifted its stake in shares of ServiceNow by 534.6% in the fourth quarter. Bank of Jackson Hole Trust now owns 165 shares of the information technology services provider’s stock worth $25,000 after acquiring an additional 139 shares during the period. Institutional investors own 87.18% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on NOW shares. Morgan Stanley set a $180.00 target price on ServiceNow in a report on Tuesday, July 21st. TD Cowen restated a “buy” rating and issued a $140.00 price target on shares of ServiceNow in a research report on Monday, August 17th. Needham & Company LLC reaffirmed a “buy” rating and issued a $115.00 price objective on shares of ServiceNow in a research note on Thursday, July 23rd. DA Davidson set a $170.00 price objective on shares of ServiceNow and gave the stock a “buy” rating in a research report on Monday, July 20th. Finally, JPMorgan Chase & Co. lifted their target price on shares of ServiceNow from $145.00 to $150.00 and gave the stock an “overweight” rating in a research note on Thursday, July 23rd. One analyst has rated the stock with a Strong Buy rating, thirty-six have issued a Buy rating, three have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $144.24.

ServiceNow Trading Up 0.0%

NYSE:NOW opened at $141.31 on Tuesday. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.43. The stock has a market capitalization of $146.11 billion, a price-to-earnings ratio of 88.32, a PEG ratio of 2.57 and a beta of 0.97. The firm has a fifty day simple moving average of $118.03 and a two-hundred day simple moving average of $108.20. ServiceNow, Inc. has a 12 month low of $81.24 and a 12 month high of $194.73.

ServiceNow (NYSE:NOW) last announced its quarterly earnings data on Wednesday, July 22nd. The information technology services provider reported $0.90 earnings per share for the quarter, beating the consensus estimate of $0.86 by $0.04. The firm had revenue of $3.99 billion for the quarter, compared to analyst estimates of $3.93 billion. ServiceNow had a net margin of 11.34% and a return on equity of 16.45%. The business’s quarterly revenue was up 24.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.81 earnings per share. Analysts expect that ServiceNow, Inc. will post 2.24 EPS for the current fiscal year.

Insider Activity at ServiceNow

In related news, insider Paul Fipps sold 2,034 shares of the company’s stock in a transaction that occurred on Monday, August 31st. The stock was sold at an average price of $147.87, for a total transaction of $300,767.58. Following the transaction, the insider directly owned 18,305 shares of the company’s stock, valued at approximately $2,706,760.35. This represents a 10.00% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Paul Chamberlain sold 2,700 shares of the stock in a transaction that occurred on Thursday, August 27th. The stock was sold at an average price of $135.50, for a total value of $365,850.00. Following the completion of the transaction, the director owned 43,990 shares in the company, valued at approximately $5,960,645. The trade was a 5.78% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 14,081 shares of company stock valued at $1,937,904 in the last three months. Corporate insiders own 0.34% of the company’s stock.

ServiceNow Profile

ServiceNow (NYSE: NOW) is a cloud computing company that builds enterprise software to manage digital workflows and automate business processes. Its offerings are designed to replace manual work and legacy systems with cloud-based, service-oriented applications that support IT operations, customer service, human resources, security response and other enterprise functions.

The company’s flagship product family is the Now Platform, a suite of subscription software and platform services that includes IT Service Management (ITSM), IT Operations Management (ITOM), IT Business Management (ITBM), Customer Service Management (CSM), HR Service Delivery, Security Operations and Asset Management.