Nwam LLC Decreases Holdings in ServiceNow, Inc. (NYSE:NOW)

by · The Cerbat Gem

Nwam LLC trimmed its stake in ServiceNow, Inc. (NYSE:NOW – Free Report) by 3.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,107 shares of the information technology services provider’s stock after selling 220 shares during the quarter. Nwam LLC’s holdings in ServiceNow were worth $5,462,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Creekmur Asset Management LLC purchased a new stake in ServiceNow in the 1st quarter worth about $25,000. Versant Capital Management Inc raised its position in shares of ServiceNow by 466.7% in the second quarter. Versant Capital Management Inc now owns 34 shares of the information technology services provider’s stock valued at $27,000 after purchasing an additional 28 shares during the period. EntryPoint Capital LLC lifted its stake in shares of ServiceNow by 3,900.0% during the 1st quarter. EntryPoint Capital LLC now owns 40 shares of the information technology services provider’s stock valued at $30,000 after buying an additional 39 shares in the last quarter. Ridgewood Investments LLC bought a new position in ServiceNow in the 2nd quarter worth approximately $32,000. Finally, DT Investment Partners LLC grew its stake in ServiceNow by 77.3% in the 3rd quarter. DT Investment Partners LLC now owns 39 shares of the information technology services provider’s stock valued at $35,000 after buying an additional 17 shares in the last quarter. 87.18% of the stock is owned by institutional investors.

ServiceNow Stock Performance

Shares of NOW stock opened at $1,053.46 on Friday. The company has a market capitalization of $217.01 billion, a P/E ratio of 163.04, a PEG ratio of 5.87 and a beta of 0.98. ServiceNow, Inc. has a fifty-two week low of $637.99 and a fifty-two week high of $1,061.66. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.13 and a current ratio of 1.13. The stock has a 50 day moving average price of $944.90 and a two-hundred day moving average price of $832.32.

ServiceNow (NYSE:NOW – Get Free Report) last posted its quarterly earnings results on Wednesday, October 23rd. The information technology services provider reported $3.72 EPS for the quarter, beating analysts’ consensus estimates 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 was up 22.2% compared to the same quarter last year. During the same period in the prior year, the business posted $1.21 EPS. Analysts expect that ServiceNow, Inc. will post 7.07 earnings per share for the current year.

Insider Transactions at ServiceNow

In other ServiceNow news, CEO William R. Mcdermott sold 12,271 shares of the stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $997.67, for a total value 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 trade represents a 82.54 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Jeffrey A. Miller sold 2,879 shares of the business’s stock in a transaction that occurred on 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 transaction, the director now directly owns 42,920 shares in the company, valued at $43,740,630.40. This trade represents a 6.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 19,644 shares of company stock worth $19,381,744. Company insiders own 0.25% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently commented on NOW. Truist Financial raised their price target on ServiceNow from $780.00 to $900.00 and gave the stock a “hold” rating in a report on Wednesday, October 23rd. Stifel Nicolaus lifted their target price on ServiceNow from $900.00 to $990.00 and gave the company a “buy” rating in a report on Thursday, October 24th. Deutsche Bank Aktiengesellschaft upped their price target on ServiceNow from $875.00 to $900.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. Oppenheimer raised their price objective on shares of ServiceNow from $825.00 to $1,020.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. Finally, KeyCorp increased their target price on shares of ServiceNow from $1,020.00 to $1,040.00 and gave the stock an “overweight” rating in a research note on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, twenty-six have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $986.39.

Read Our Latest Research Report on ServiceNow

About ServiceNow

(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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