Boomfish Wealth Group LLC Sells 108 Shares of ServiceNow, Inc. (NYSE:NOW)

Boomfish Wealth Group LLC lessened its position in ServiceNow, Inc. (NYSE:NOW) by 3.0% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,518 shares of the information technology services provider’s stock after selling 108 shares during the quarter. ServiceNow accounts for 1.8% of Boomfish Wealth Group LLC’s portfolio, making the stock its 11th largest position. Boomfish Wealth Group LLC’s holdings in ServiceNow were worth $2,768,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Creekmur Asset Management LLC purchased a new stake in shares of ServiceNow during the first quarter valued at $25,000. Versant Capital Management Inc increased its position in shares of ServiceNow by 466.7% during the second quarter. Versant Capital Management Inc now owns 34 shares of the information technology services provider’s stock worth $27,000 after acquiring an additional 28 shares during the period. University of Texas Texas AM Investment Managment Co. bought a new stake in shares of ServiceNow during the fourth quarter valued at approximately $29,000. EntryPoint Capital LLC boosted its holdings in shares of ServiceNow by 3,900.0% in the first quarter. EntryPoint Capital LLC now owns 40 shares of the information technology services provider’s stock valued at $30,000 after purchasing an additional 39 shares during the period. Finally, Disciplined Equity Management Inc. bought a new position in ServiceNow in the fourth quarter worth approximately $35,000. 87.18% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Guggenheim restated a “sell” rating and issued a $640.00 price objective on shares of ServiceNow in a report on Monday, July 8th. Deutsche Bank Aktiengesellschaft raised their target price on shares of ServiceNow from $875.00 to $900.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. TD Cowen increased their price objective on shares of ServiceNow from $870.00 to $900.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. StockNews.com downgraded ServiceNow from a “buy” rating to a “hold” rating in a research report on Friday, April 26th. Finally, Wells Fargo & Company lifted their target price on ServiceNow from $920.00 to $935.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-five have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $849.62.

ServiceNow Stock Performance

NOW traded down $4.55 during trading hours on Friday, hitting $827.56. 835,507 shares of the stock were exchanged, compared to its average volume of 1,322,462. The stock has a market cap of $169.65 billion, a price-to-earnings ratio of 88.51, a price-to-earnings-growth ratio of 4.82 and a beta of 0.99. ServiceNow, Inc. has a 12 month low of $527.24 and a 12 month high of $850.33. The stock has a 50-day simple moving average of $770.45 and a 200-day simple moving average of $757.21. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.12 and a quick ratio of 1.12.

ServiceNow (NYSE:NOW) last released its quarterly earnings data on Wednesday, July 24th. The information technology services provider reported $3.13 earnings per share for the quarter, topping the consensus estimate of $2.85 by $0.28. ServiceNow had a net margin of 11.51% and a return on equity of 14.52%. The firm had revenue of $2.63 billion for the quarter, compared to analyst estimates of $2.61 billion. During the same quarter in the prior year, the business earned $0.77 earnings per share. ServiceNow’s quarterly revenue was up 22.2% on a year-over-year basis. Analysts anticipate that ServiceNow, Inc. will post 6.84 earnings per share for the current year.

Insider Activity at ServiceNow

In other news, insider Paul John Smith sold 602 shares of the business’s 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 transaction, the insider now directly owns 3,619 shares in the company, valued at $2,785,725.25. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other ServiceNow news, insider Kevin Thomas Mcbride sold 100 shares of the stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $825.00, for a total transaction of $82,500.00. Following the completion of the transaction, the insider now directly owns 2,994 shares of the company’s stock, valued at approximately $2,470,050. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Paul John Smith sold 602 shares of the business’s stock in a transaction on Monday, May 20th. The stock was sold at an average price of $769.75, for a total value of $463,389.50. Following the completion of the sale, the insider now directly owns 3,619 shares in the company, valued at approximately $2,785,725.25. The disclosure for this sale can be found here. Insiders sold 10,178 shares of company stock worth $7,760,105 in the last 90 days. 0.25% of the stock is currently owned by company insiders.

About ServiceNow

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.