Graypoint LLC Sells 198 Shares of ServiceNow, Inc. (NYSE:NOW)

by · The Cerbat Gem

Graypoint LLC lessened its stake in shares of ServiceNow, Inc. (NYSE:NOW – Free Report) by 8.7% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 2,081 shares of the information technology services provider’s stock after selling 198 shares during the period. Graypoint LLC’s holdings in ServiceNow were worth $1,657,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Janus Henderson Group PLC boosted its position in shares of ServiceNow by 1.5% during the 4th quarter. Janus Henderson Group PLC now owns 824,725 shares of the information technology services provider’s stock worth $874,258,000 after acquiring an additional 12,533 shares in the last quarter. FMR LLC lifted its position in ServiceNow by 4.9% in the fourth quarter. FMR LLC now owns 5,878,900 shares of the information technology services provider’s stock worth $6,232,339,000 after purchasing an additional 272,506 shares during the period. Parr Mcknight Wealth Management Group LLC acquired a new stake in ServiceNow during the 1st quarter valued at $1,820,000. Nicholas Investment Partners LP increased its position in ServiceNow by 223.5% during the fourth quarter. Nicholas Investment Partners LP now owns 2,805 shares of the information technology services provider’s stock worth $2,974,000 after buying an additional 1,938 shares during the last quarter. Finally, OMNI 360 Wealth Inc. bought a new position in ServiceNow during the first quarter worth about $285,000. 87.18% of the stock is currently owned by hedge funds and other institutional investors.

ServiceNow Stock Down 0.8%

NOW opened at $959.27 on Friday. The business has a 50 day moving average of $1,006.88 and a 200-day moving average of $957.08. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.15. ServiceNow, Inc. has a 1-year low of $678.66 and a 1-year high of $1,198.09. The stock has a market capitalization of $198.55 billion, a price-to-earnings ratio of 130.34, a P/E/G ratio of 4.44 and a beta of 0.94.

ServiceNow (NYSE:NOW – Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The information technology services provider reported $4.04 earnings per share for the quarter, beating analysts’ consensus estimates of $3.78 by $0.26. The business had revenue of $3.09 billion for the quarter, compared to analysts’ expectations of $3.09 billion. ServiceNow had a return on equity of 17.34% and a net margin of 13.41%. The firm’s revenue for the quarter was up 18.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.41 EPS. As a group, sell-side analysts anticipate that ServiceNow, Inc. will post 8.93 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts have weighed in on NOW shares. Piper Sandler lowered their price target on shares of ServiceNow from $1,200.00 to $1,120.00 and set an “overweight” rating on the stock in a report on Thursday, April 24th. Guggenheim reissued a “sell” rating and issued a $724.00 price target on shares of ServiceNow in a research note on Thursday. Morgan Stanley restated an “equal weight” rating on shares of ServiceNow in a report on Tuesday, July 8th. Wall Street Zen raised shares of ServiceNow from a “hold” rating to a “buy” rating in a report on Sunday, July 13th. Finally, Mizuho raised their price objective on shares of ServiceNow from $1,050.00 to $1,100.00 and gave the stock an “outperform” rating in a research note on Thursday, June 12th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, thirty-one have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, ServiceNow presently has an average rating of “Moderate Buy” and an average target price of $1,073.13.

View Our Latest Stock Analysis on NOW

Insider Activity

In other ServiceNow news, Vice Chairman Nicholas Tzitzon sold 1,171 shares of ServiceNow stock in a transaction on Friday, May 30th. The stock was sold at an average price of $1,020.00, for a total transaction of $1,194,420.00. Following the completion of the transaction, the insider owned 3,000 shares in the company, valued at approximately $3,060,000. The trade was a 28.07% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Anita M. Sands sold 428 shares of the business’s stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $1,013.61, for a total value of $433,825.08. Following the completion of the sale, the director owned 10,891 shares in the company, valued at $11,039,226.51. This represents a 3.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 6,601 shares of company stock worth $6,577,363. 0.38% of the stock is currently owned by insiders.

ServiceNow Profile

(Free Report)

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.

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