ServiceNow, Inc. (NYSE:NOW) Shares Sold by Paragon Advisors LLC

Paragon Advisors LLC trimmed its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 27.3% during the fourth quarter, Holdings Channel reports. The firm owned 3,841 shares of the information technology services provider’s stock after selling 1,439 shares during the quarter. ServiceNow comprises 1.4% of Paragon Advisors LLC’s portfolio, making the stock its 23rd largest holding. Paragon Advisors LLC’s holdings in ServiceNow were worth $4,072,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of NOW. World Investment Advisors LLC grew its stake in ServiceNow by 499,668.1% during the 3rd quarter. World Investment Advisors LLC now owns 4,772,785 shares of the information technology services provider’s stock worth $4,268,731,000 after buying an additional 4,771,830 shares during the last quarter. International Assets Investment Management LLC boosted its holdings 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 valued at $1,059,912,000 after acquiring an additional 1,183,739 shares during the period. Bank of Montreal Can grew its position in shares of ServiceNow by 216.6% during the third quarter. Bank of Montreal Can now owns 1,367,875 shares of the information technology services provider’s stock worth $1,206,178,000 after acquiring an additional 935,848 shares during the last quarter. Wellington Management Group LLP grew its position in shares of ServiceNow by 24.1% during the third quarter. Wellington Management Group LLP now owns 3,169,531 shares of the information technology services provider’s stock worth $2,834,797,000 after acquiring an additional 615,797 shares during the last quarter. Finally, FMR LLC increased its holdings in shares of ServiceNow by 9.9% in 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 acquiring an additional 502,845 shares during the period. 87.18% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, insider Jacqueline P. Canney sold 66 shares of the business’s stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $1,048.29, for a total transaction of $69,187.14. Following the transaction, the insider now directly owns 3,027 shares in the company, valued at $3,173,173.83. The trade was a 2.13 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Jeffrey A. Miller sold 2,879 shares of the stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $1,019.12, for a total value of $2,934,046.48. Following the sale, the director now owns 42,920 shares of the company’s stock, valued at approximately $43,740,630.40. This represents a 6.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 20,629 shares of company stock valued at $20,861,626. Corporate insiders own 0.25% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on NOW shares. KeyCorp cut shares of ServiceNow from an “overweight” rating to a “sector weight” rating in a research report on Friday, December 13th. Sanford C. Bernstein increased their price objective on ServiceNow from $906.00 to $913.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Needham & Company LLC raised their target price on ServiceNow from $1,075.00 to $1,150.00 and gave the company a “buy” rating in a research report on Monday, November 25th. UBS Group boosted their price target on ServiceNow from $900.00 to $1,055.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. Finally, Royal Bank of Canada raised their price target on ServiceNow from $1,045.00 to $1,210.00 and gave the company an “outperform” rating in a report on Friday, January 3rd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-five have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $1,071.39.

ServiceNow Stock Performance

ServiceNow stock opened at $1,024.26 on Monday. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.13 and a quick ratio of 1.13. The company has a market cap of $211.00 billion, a P/E ratio of 159.29, a price-to-earnings-growth ratio of 6.43 and a beta of 0.99. ServiceNow, Inc. has a fifty-two week low of $637.99 and a fifty-two week high of $1,157.90. The firm’s 50 day simple moving average is $1,064.01 and its 200-day simple moving average is $924.13.

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