ServiceNow, Inc. (NYSE:NOW) Stock Holdings Trimmed by Kingswood Wealth Advisors LLC

Kingswood Wealth Advisors LLC trimmed its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 20.8% during the first quarter, Holdings Channel.com reports. The firm owned 3,693 shares of the information technology services provider’s stock after selling 971 shares during the quarter. Kingswood Wealth Advisors LLC’s holdings in ServiceNow were worth $2,816,000 as of its most recent filing with the SEC.

Other institutional investors also recently made changes to their positions in the company. University of Texas Texas AM Investment Managment Co. bought a new position in shares of ServiceNow during the 4th quarter valued at about $29,000. AdvisorNet Financial Inc grew its position in ServiceNow by 266.7% in the fourth quarter. AdvisorNet Financial Inc now owns 44 shares of the information technology services provider’s stock worth $31,000 after buying an additional 32 shares during the last quarter. Disciplined Equity Management Inc. bought a new position in shares of ServiceNow in the fourth quarter valued at $35,000. Sachetta LLC acquired a new stake in shares of ServiceNow during the 4th quarter valued at $35,000. Finally, Fortitude Family Office LLC bought a new stake in shares of ServiceNow during the 4th quarter worth $41,000. 87.18% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

NOW has been the subject of several analyst reports. JMP Securities reaffirmed a “market outperform” rating and set a $825.00 target price on shares of ServiceNow in a report on Tuesday, May 7th. Robert W. Baird lifted their target price on shares of ServiceNow from $870.00 to $885.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 7th. UBS Group cut their target price on shares of ServiceNow from $920.00 to $875.00 and set a “buy” rating on the stock in a research note on Thursday, April 25th. Guggenheim reissued a “neutral” rating on shares of ServiceNow in a research report on Monday, April 15th. Finally, StockNews.com lowered ServiceNow from a “buy” rating to a “hold” rating in a research report on Friday, April 26th. Three investment analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $814.48.

ServiceNow Stock Performance

NOW traded down $0.52 on Wednesday, hitting $754.29. The company had a trading volume of 986,045 shares, compared to its average volume of 1,281,881. The stock has a market cap of $154.63 billion, a price-to-earnings ratio of 80.62, a price-to-earnings-growth ratio of 4.73 and a beta of 0.96. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.05 and a quick ratio of 1.05. The company’s fifty day moving average price is $723.87 and its 200 day moving average price is $739.98. ServiceNow, Inc. has a 1-year low of $527.24 and a 1-year high of $815.32.

ServiceNow (NYSE:NOW) last issued its quarterly earnings data on Wednesday, April 24th. The information technology services provider reported $1.82 earnings per share for the quarter, topping analysts’ consensus estimates of $1.41 by $0.41. ServiceNow had a net margin of 20.34% and a return on equity of 13.59%. The business had revenue of $2.60 billion during the quarter, compared to analysts’ expectations of $2.59 billion. Equities analysts predict that ServiceNow, Inc. will post 6.5 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Paul John Smith sold 602 shares of the stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $769.75, for a total transaction of $463,389.50. Following the completion of the sale, the insider now owns 3,619 shares in the company, valued at approximately $2,785,725.25. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, insider Nicholas Tzitzon sold 2,000 shares of the business’s stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $690.99, for a total transaction of $1,381,980.00. Following the transaction, the insider now owns 3,649 shares in the company, valued at approximately $2,521,422.51. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Paul John Smith sold 602 shares of the company’s stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $769.75, for a total transaction of $463,389.50. Following the transaction, the insider now directly owns 3,619 shares of the company’s stock, valued at approximately $2,785,725.25. The disclosure for this sale can be found here. Insiders sold a total of 5,530 shares of company stock valued at $3,997,012 in the last quarter. Insiders own 0.25% of the company’s stock.

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.