Portside Wealth Group LLC Reduces Stock Holdings in ServiceNow, Inc. (NYSE:NOW)

Portside Wealth Group LLC lessened its position in shares of ServiceNow, Inc. (NYSE:NOW) by 0.5% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 9,334 shares of the information technology services provider’s stock after selling 51 shares during the quarter. ServiceNow accounts for 1.4% of Portside Wealth Group LLC’s portfolio, making the stock its 11th largest position. Portside Wealth Group LLC’s holdings in ServiceNow were worth $8,348,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in NOW. Quent Capital LLC lifted its holdings in shares of ServiceNow by 4.1% in the 1st quarter. Quent Capital LLC now owns 770 shares of the information technology services provider’s stock valued at $587,000 after buying an additional 30 shares during the period. Csenge Advisory Group lifted its holdings in shares of ServiceNow by 2.5% in the 1st quarter. Csenge Advisory Group now owns 794 shares of the information technology services provider’s stock valued at $605,000 after buying an additional 19 shares during the period. Envestnet Portfolio Solutions Inc. lifted its holdings in shares of ServiceNow by 0.4% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 25,280 shares of the information technology services provider’s stock valued at $19,273,000 after buying an additional 100 shares during the period. Wealthspire Advisors LLC lifted its holdings in shares of ServiceNow by 3.4% in the 1st quarter. Wealthspire Advisors LLC now owns 1,683 shares of the information technology services provider’s stock valued at $1,283,000 after buying an additional 56 shares during the period. Finally, Hilltop National Bank acquired a new position in ServiceNow in the 1st quarter worth about $297,000. Hedge funds and other institutional investors own 87.18% of the company’s stock.

Insiders Place Their Bets

In other ServiceNow news, Director Paul Edward Chamberlain sold 135 shares of the firm’s stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $822.00, for a total transaction of $110,970.00. Following the transaction, the director now owns 10,767 shares of the company’s stock, valued at approximately $8,850,474. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other ServiceNow news, insider Jacqueline P. Canney sold 804 shares of ServiceNow stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $812.00, for a total value of $652,848.00. Following the sale, the insider now owns 3,027 shares of the company’s stock, valued at approximately $2,457,924. 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, Director Paul Edward Chamberlain sold 135 shares of ServiceNow stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $822.00, for a total value of $110,970.00. Following the completion of the sale, the director now directly owns 10,767 shares in the company, valued at $8,850,474. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 3,343 shares of company stock valued at $2,791,181. 0.25% of the stock is currently owned by insiders.

ServiceNow Stock Performance

Shares of NOW stock opened at $1,015.45 on Friday. The stock’s 50-day moving average is $905.83 and its two-hundred day moving average is $809.18. The firm has a market cap of $209.18 billion, a price-to-earnings ratio of 157.92, a PEG ratio of 5.48 and a beta of 0.98. ServiceNow, Inc. has a 1 year low of $615.54 and a 1 year high of $1,024.44. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.13 and a current ratio of 1.13.

ServiceNow (NYSE:NOW) last issued its quarterly earnings data on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.46 by $0.26. The company had revenue of $2.80 billion for the quarter, compared to analyst estimates of $2.75 billion. ServiceNow had a return on equity of 16.03% and a net margin of 12.77%. The business’s quarterly revenue was up 22.2% compared to the same quarter last year. During the same quarter last year, the company posted $1.21 earnings per share. Analysts predict that ServiceNow, Inc. will post 7.07 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the company. Robert W. Baird upped their price target on ServiceNow from $900.00 to $975.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Royal Bank of Canada upped their price target on ServiceNow from $985.00 to $1,045.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Citigroup upped their price target on ServiceNow from $1,068.00 to $1,071.00 and gave the company a “buy” rating in a research report on Friday, October 25th. Barclays upped their price target on ServiceNow from $980.00 to $1,000.00 and gave the stock an “overweight” rating in a research note on Thursday, October 24th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on ServiceNow from $875.00 to $900.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-five have issued a buy rating to the stock. According to MarketBeat.com, ServiceNow currently has a consensus rating of “Moderate Buy” and an average target price of $970.33.

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.