RFG Advisory LLC Sells 10,576 Shares of ServiceNow, Inc. $NOW

RFG Advisory LLC trimmed its position in shares of ServiceNow, Inc. (NYSE:NOW) by 66.0% during the first quarter, HoldingsChannel reports. The institutional investor owned 5,449 shares of the information technology services provider’s stock after selling 10,576 shares during the period. RFG Advisory LLC’s holdings in ServiceNow were worth $570,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. Wealth Watch Advisors INC acquired a new stake in shares of ServiceNow during the 3rd quarter worth approximately $29,000. Texas Capital Bancshares Inc TX acquired a new position in ServiceNow during the third quarter valued at approximately $37,000. Ameriflex Group Inc. lifted its stake in ServiceNow by 187.5% during the third quarter. Ameriflex Group Inc. now owns 46 shares of the information technology services provider’s stock worth $42,000 after purchasing an additional 30 shares during the last quarter. Kelleher Financial Advisors bought a new stake in ServiceNow during the third quarter worth $50,000. Finally, Pin Oak Investment Advisors Inc. boosted its holdings in shares of ServiceNow by 20.7% in the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 134 shares of the information technology services provider’s stock valued at $123,000 after purchasing an additional 23 shares in the last quarter. 87.18% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on NOW. BNP Paribas Exane upgraded ServiceNow from a “neutral” rating to an “outperform” rating and set a $140.00 price target on the stock in a research note on Monday, March 16th. Citizens Jmp reaffirmed a “market outperform” rating and issued a $157.00 price objective on shares of ServiceNow in a research note on Tuesday, May 5th. JPMorgan Chase & Co. decreased their target price on ServiceNow from $195.00 to $145.00 and set an “overweight” rating on the stock in a research report on Thursday, April 23rd. Robert W. Baird lowered their target price on ServiceNow from $125.00 to $118.00 and set an “outperform” rating for the company in a research note on Thursday, April 23rd. Finally, Cantor Fitzgerald set a $130.00 target price on shares of ServiceNow in a report on Monday, June 15th. One research analyst has rated the stock with a Strong Buy rating, thirty-five have assigned a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, ServiceNow presently has an average rating of “Moderate Buy” and a consensus target price of $142.17.

ServiceNow Stock Up 1.6%

Shares of NOW opened at $99.89 on Tuesday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.84 and a current ratio of 0.84. ServiceNow, Inc. has a 52 week low of $81.24 and a 52 week high of $211.48. The stock has a market capitalization of $102.99 billion, a price-to-earnings ratio of 59.53, a PEG ratio of 1.64 and a beta of 0.94. The stock has a fifty day moving average of $100.17 and a 200-day moving average of $114.38.

ServiceNow (NYSE:NOW) last issued its earnings results on Wednesday, April 22nd. The information technology services provider reported $0.97 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.97. The business had revenue of $3.77 billion during the quarter, compared to analysts’ expectations of $3.75 billion. ServiceNow had a return on equity of 18.16% and a net margin of 12.59%.The business’s revenue for the quarter was up 22.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.81 EPS. As a group, sell-side analysts anticipate that ServiceNow, Inc. will post 2.34 earnings per share for the current fiscal year.

Insider Transactions at ServiceNow

In related news, Director Paul Edward Chamberlain sold 1,500 shares of ServiceNow stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $87.23, for a total transaction of $130,845.00. Following the sale, the director directly owned 44,930 shares in the company, valued at $3,919,243.90. This trade represents a 3.23% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jacqueline P. Canney sold 8,927 shares of the business’s stock in a transaction that occurred on Friday, April 24th. The stock was sold at an average price of $89.60, for a total transaction of $799,859.20. Following the sale, the insider directly owned 29,531 shares in the company, valued at $2,645,977.60. The trade was a 23.21% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 28,071 shares of company stock valued at $2,529,956. 0.34% of the stock is currently owned by company insiders.

About ServiceNow

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.