Virtue Capital Management LLC Trims Stock Position in ServiceNow, Inc. (NYSE:NOW)

Virtue Capital Management LLC cut its position in ServiceNow, Inc. (NYSE:NOW) by 8.1% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 956 shares of the information technology services provider’s stock after selling 84 shares during the quarter. Virtue Capital Management LLC’s holdings in ServiceNow were worth $855,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of NOW. Truvestments Capital LLC bought a new position in ServiceNow in the 3rd quarter worth about $30,000. Ridgewood Investments LLC bought a new position in shares of ServiceNow in the second quarter worth approximately $32,000. DT Investment Partners LLC raised its stake in ServiceNow by 77.3% in the third quarter. DT Investment Partners LLC now owns 39 shares of the information technology services provider’s stock valued at $35,000 after purchasing an additional 17 shares in the last quarter. American Capital Advisory LLC purchased a new position in ServiceNow in the 2nd quarter worth approximately $39,000. Finally, Semmax Financial Advisors Inc. bought a new position in shares of ServiceNow in the 2nd quarter worth $39,000. 87.18% of the stock is owned by institutional investors.

Insider Transactions at ServiceNow

In other ServiceNow news, insider Jacqueline P. Canney sold 353 shares of the company’s stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $924.96, for a total value of $326,510.88. Following the completion of the transaction, the insider now directly owns 3,027 shares in the company, valued at $2,799,853.92. This represents a 10.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO William R. Mcdermott sold 12,271 shares of the firm’s stock in a transaction on 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 sale, the chief executive officer now owns 2,595 shares in the company, valued at $2,588,953.65. The trade was a 82.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 20,629 shares of company stock worth $20,861,626 in the last three months. Corporate insiders own 0.25% of the company’s stock.

ServiceNow Trading Up 0.7 %

Shares of NYSE:NOW opened at $1,128.51 on Wednesday. ServiceNow, Inc. has a 52-week low of $637.99 and a 52-week high of $1,147.37. The stock has a market capitalization of $232.47 billion, a price-to-earnings ratio of 175.51, a PEG ratio of 6.45 and a beta of 0.99. 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’s 50-day simple moving average is $987.03 and its two-hundred day simple moving average is $861.55.

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. 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 analyst estimates of $2.75 billion. During the same period in the previous year, the business posted $1.21 earnings per share. The firm’s quarterly revenue was up 22.2% compared to the same quarter last year. Analysts expect that ServiceNow, Inc. will post 7.07 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts recently commented on NOW shares. Mizuho increased their target price on ServiceNow from $980.00 to $1,070.00 and gave the company an “outperform” rating in a research note on Tuesday, November 19th. Stifel Nicolaus raised their price objective on ServiceNow from $900.00 to $990.00 and gave the company a “buy” rating in a report on Thursday, October 24th. Royal Bank of Canada upped their target price on ServiceNow from $985.00 to $1,045.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. TD Cowen boosted their price objective on shares of ServiceNow from $1,025.00 to $1,300.00 and gave the stock a “buy” rating in a report on Tuesday. Finally, Truist Financial upped their price objective on shares of ServiceNow from $780.00 to $900.00 and gave the company a “hold” rating in a research note on Wednesday, October 23rd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, twenty-five have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $1,022.37.

About ServiceNow

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.