Wolff Wiese Magana LLC Decreases Stake in ServiceNow, Inc. (NYSE:NOW)

Wolff Wiese Magana LLC cut its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 21.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 673 shares of the information technology services provider’s stock after selling 180 shares during the period. Wolff Wiese Magana LLC’s holdings in ServiceNow were worth $602,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. Creekmur Asset Management LLC purchased a new stake in shares of ServiceNow during the 1st quarter valued at about $25,000. Versant Capital Management Inc boosted its holdings in ServiceNow by 466.7% in the second quarter. Versant Capital Management Inc now owns 34 shares of the information technology services provider’s stock worth $27,000 after purchasing an additional 28 shares during the last quarter. EntryPoint Capital LLC grew its position in ServiceNow by 3,900.0% in the 1st quarter. EntryPoint Capital LLC now owns 40 shares of the information technology services provider’s stock worth $30,000 after purchasing an additional 39 shares during the period. Ridgewood Investments LLC purchased a new stake in ServiceNow during the 2nd quarter valued at $32,000. Finally, TFC Financial Management Inc. lifted its holdings in shares of ServiceNow by 466.7% during the 1st quarter. TFC Financial Management Inc. now owns 51 shares of the information technology services provider’s stock valued at $39,000 after buying an additional 42 shares during the period. 87.18% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Deutsche Bank Aktiengesellschaft lifted their price objective on ServiceNow from $875.00 to $900.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. Needham & Company LLC reaffirmed a “buy” rating and set a $900.00 price target on shares of ServiceNow in a research report on Monday, September 9th. Guggenheim reissued a “sell” rating and issued a $640.00 price objective on shares of ServiceNow in a report on Monday, July 8th. TD Cowen upped their target price on shares of ServiceNow from $870.00 to $900.00 and gave the company a “buy” rating in a report on Thursday, July 25th. Finally, Robert W. Baird lifted their price target on shares of ServiceNow from $885.00 to $900.00 and gave the stock an “outperform” rating in a research note 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 assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $887.73.

Insider Activity at ServiceNow

In other ServiceNow news, General Counsel Russell S. Elmer sold 1,937 shares of ServiceNow stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $779.81, for a total value of $1,510,491.97. Following the completion of the transaction, the general counsel now directly owns 6,736 shares of the company’s stock, valued at $5,252,800.16. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, General Counsel Russell S. Elmer sold 1,937 shares of ServiceNow stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $779.81, for a total value of $1,510,491.97. Following the completion of the transaction, the general counsel now owns 6,736 shares in the company, valued at approximately $5,252,800.16. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Nicholas Tzitzon sold 1,857 shares of the stock in a transaction on Monday, August 26th. The shares were sold at an average price of $829.68, for a total value of $1,540,715.76. Following the sale, the insider now owns 3,649 shares in the company, valued at $3,027,502.32. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 6,914 shares of company stock valued at $5,608,936 over the last 90 days. 0.25% of the stock is owned by corporate insiders.

ServiceNow Trading Down 1.0 %

Shares of ServiceNow stock opened at $918.87 on Thursday. ServiceNow, Inc. has a twelve month low of $527.24 and a twelve month high of $949.59. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.17. The business has a 50-day moving average price of $869.98 and a 200-day moving average price of $789.79. The firm has a market cap of $188.37 billion, a price-to-earnings ratio of 98.27, a PEG ratio of 5.63 and a beta of 0.99.

ServiceNow (NYSE:NOW) last released its quarterly earnings data on Wednesday, July 24th. The information technology services provider reported $3.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.85 by $0.28. The business had revenue of $2.63 billion for the quarter, compared to the consensus estimate of $2.61 billion. ServiceNow had a return on equity of 14.52% and a net margin of 11.51%. The company’s revenue was up 22.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.77 EPS. Equities research analysts anticipate that ServiceNow, Inc. will post 6.78 EPS for the current fiscal year.

ServiceNow Company 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.