CGN Advisors LLC Reduces Stock Holdings in ServiceNow, Inc. (NYSE:NOW)

CGN Advisors LLC cut its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 1.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,655 shares of the information technology services provider’s stock after selling 29 shares during the quarter. CGN Advisors LLC’s holdings in ServiceNow were worth $1,754,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. World Investment Advisors LLC raised its stake in shares of ServiceNow by 499,668.1% in the 3rd quarter. World Investment Advisors LLC now owns 4,772,785 shares of the information technology services provider’s stock valued at $4,268,731,000 after acquiring an additional 4,771,830 shares during the period. International Assets Investment Management LLC lifted its position in shares of ServiceNow by 89,137.0% during the third quarter. International Assets Investment Management LLC now owns 1,185,067 shares of the information technology services provider’s stock worth $1,059,912,000 after purchasing an additional 1,183,739 shares in the last quarter. Bank of Montreal Can boosted its stake in shares of ServiceNow by 216.6% in the third quarter. Bank of Montreal Can now owns 1,367,875 shares of the information technology services provider’s stock valued at $1,206,178,000 after purchasing an additional 935,848 shares during the period. Wellington Management Group LLP grew its holdings in ServiceNow by 24.1% during the 3rd quarter. Wellington Management Group LLP now owns 3,169,531 shares of the information technology services provider’s stock valued at $2,834,797,000 after purchasing an additional 615,797 shares in the last quarter. Finally, FMR LLC increased its stake in ServiceNow by 9.9% during the 3rd quarter. FMR LLC now owns 5,606,394 shares of the information technology services provider’s stock worth $5,014,302,000 after buying an additional 502,845 shares during the period. 87.18% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at ServiceNow

In related news, insider Jacqueline P. Canney sold 455 shares of the firm’s stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $1,058.54, for a total transaction of $481,635.70. Following the completion of the transaction, the insider now owns 3,027 shares in the company, valued at $3,204,200.58. This trade represents a 13.07 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Russell S. Elmer sold 81 shares of the company’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $1,016.54, for a total transaction of $82,339.74. Following the transaction, the general counsel now owns 6,843 shares in the company, valued at approximately $6,956,183.22. This trade represents a 1.17 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 20,731 shares of company stock worth $21,016,751. Company insiders own 0.25% of the company’s stock.

ServiceNow Stock Performance

NOW opened at $1,072.02 on Friday. The stock has a 50-day moving average of $1,068.39 and a 200-day moving average of $929.31. 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, Inc. has a 52-week low of $637.99 and a 52-week high of $1,157.90. The company has a market cap of $220.84 billion, a PE ratio of 166.72, a price-to-earnings-growth ratio of 4.65 and a beta of 0.99.

ServiceNow (NYSE:NOW) last released its quarterly earnings results on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.46 by $0.26. ServiceNow had a net margin of 12.77% and a return on equity of 16.03%. The company had revenue of $2.80 billion during the quarter, compared to analysts’ expectations of $2.75 billion. During the same period in the prior year, the company earned $1.21 earnings per share. The business’s quarterly revenue was up 22.2% compared to the same quarter last year. As a group, equities research analysts forecast that ServiceNow, Inc. will post 7.07 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on NOW shares. Oppenheimer lifted their target price on ServiceNow from $1,020.00 to $1,150.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 3rd. Raymond James initiated coverage on ServiceNow in a report on Tuesday, December 24th. They set an “outperform” rating and a $1,200.00 target price on the stock. JMP Securities boosted their price target on ServiceNow from $850.00 to $1,000.00 and gave the company a “market outperform” rating in a report on Thursday, October 17th. Cantor Fitzgerald started coverage on ServiceNow in a research note on Friday. They set an “overweight” rating and a $1,332.00 price objective on the stock. Finally, Stifel Nicolaus boosted their target price on shares of ServiceNow from $900.00 to $990.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-five have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $1,080.38.

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.