ServiceNow, Inc. (NYSE:NOW) Shares Sold by Talbot Financial LLC

Talbot Financial LLC cut its holdings in ServiceNow, Inc. (NYSE:NOW) by 3.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,524 shares of the information technology services provider’s stock after selling 358 shares during the quarter. ServiceNow makes up approximately 1.5% of Talbot Financial LLC’s portfolio, making the stock its 24th largest holding. Talbot Financial LLC’s holdings in ServiceNow were worth $12,217,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of NOW. Oppenheimer & Co. Inc. grew its position in shares of ServiceNow by 13.7% in the second quarter. Oppenheimer & Co. Inc. now owns 6,751 shares of the information technology services provider’s stock valued at $5,311,000 after purchasing an additional 812 shares during the last quarter. CoreCap Advisors LLC acquired a new stake in shares of ServiceNow in the second quarter valued at approximately $434,000. Fiduciary Group LLC acquired a new stake in ServiceNow during the second quarter worth approximately $601,000. Parallel Advisors LLC boosted its position in ServiceNow by 1.2% during the second quarter. Parallel Advisors LLC now owns 4,693 shares of the information technology services provider’s stock worth $3,691,000 after acquiring an additional 54 shares during the last quarter. Finally, Thoroughbred Financial Services LLC boosted its position in ServiceNow by 28.8% during the second quarter. Thoroughbred Financial Services LLC now owns 3,241 shares of the information technology services provider’s stock worth $2,549,000 after acquiring an additional 724 shares during the last quarter. 87.18% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Jeffrey A. Miller sold 2,879 shares of ServiceNow stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $1,019.12, for a total value of $2,934,046.48. Following the completion of the transaction, the director now directly owns 42,920 shares of the company’s stock, valued at approximately $43,740,630.40. The trade was a 6.29 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO William R. Mcdermott sold 12,271 shares of ServiceNow stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $997.67, for a total transaction of $12,242,408.57. Following the completion of the sale, the chief executive officer now owns 2,595 shares in the company, valued at approximately $2,588,953.65. This represents a 82.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 20,629 shares of company stock valued at $20,861,626 in the last ninety days. Corporate insiders own 0.25% of the company’s stock.

Analysts Set New Price Targets

NOW has been the topic of a number of analyst reports. Wells Fargo & Company raised their target price on shares of ServiceNow from $1,150.00 to $1,250.00 and gave the stock an “overweight” rating in a research report on Thursday, December 5th. Piper Sandler raised their target price on shares of ServiceNow from $1,000.00 to $1,200.00 and gave the stock an “overweight” rating in a research report on Monday, January 6th. BMO Capital Markets raised their target price on shares of ServiceNow from $860.00 to $1,025.00 and gave the stock an “outperform” rating in a research report on Thursday, October 10th. Mizuho increased their price target on shares of ServiceNow from $1,070.00 to $1,210.00 and gave the stock an “outperform” rating in a research note on Friday, December 13th. Finally, Truist Financial increased their price target on shares of ServiceNow from $900.00 to $1,100.00 and gave the stock a “hold” rating in a research note on Thursday, December 12th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-five have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $1,071.39.

ServiceNow Stock Down 1.7 %

NOW stock traded down $17.18 during mid-day trading on Monday, hitting $1,007.39. 816,926 shares of the company were exchanged, compared to its average volume of 1,097,831. The company has a market capitalization of $207.52 billion, a PE ratio of 156.67, a price-to-earnings-growth ratio of 6.43 and a beta of 0.99. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.16. ServiceNow, Inc. has a twelve month low of $637.99 and a twelve month high of $1,157.90. The firm has a fifty day simple moving average of $1,064.01 and a 200 day simple moving average of $924.13.

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