ServiceNow, Inc. (NYSE:NOW) Shares Sold by Mirador Capital Partners LP

Mirador Capital Partners LP cut its position in ServiceNow, Inc. (NYSE:NOW) by 2.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 448 shares of the information technology services provider’s stock after selling 10 shares during the quarter. Mirador Capital Partners LP’s holdings in ServiceNow were worth $475,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the stock. Dimensional Fund Advisors LP raised its stake in shares of ServiceNow by 17.0% during the second quarter. Dimensional Fund Advisors LP now owns 274,844 shares of the information technology services provider’s stock worth $216,207,000 after purchasing an additional 39,984 shares during the last quarter. Sargent Investment Group LLC acquired a new position in ServiceNow in the 2nd quarter valued at $205,000. Bradley Foster & Sargent Inc. CT acquired a new position in shares of ServiceNow in the 2nd quarter valued at $256,000. Wealth Alliance increased its position in ServiceNow by 6.9% during the 2nd quarter. Wealth Alliance now owns 949 shares of the information technology services provider’s stock worth $747,000 after purchasing an additional 61 shares in the last quarter. Finally, Andar Capital Management HK Ltd lifted its holdings in shares of ServiceNow by 35.0% during the 2nd quarter. Andar Capital Management HK Ltd now owns 5,400 shares of the information technology services provider’s stock valued at $4,248,000 after acquiring an additional 1,400 shares in the last quarter. Institutional investors and hedge funds own 87.18% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on NOW. Canaccord Genuity Group increased their target price on ServiceNow from $1,000.00 to $1,200.00 and gave the company a “buy” rating in a research note on Friday, December 20th. Needham & Company LLC raised their target price on shares of ServiceNow from $1,075.00 to $1,150.00 and gave the stock a “buy” rating in a report on Monday, November 25th. Royal Bank of Canada increased their price target on ServiceNow from $1,045.00 to $1,210.00 and gave the stock an “outperform” rating in a research report on Friday, January 3rd. Mizuho raised their target price on ServiceNow from $1,070.00 to $1,210.00 and gave the company an “outperform” rating in a research note on Friday, December 13th. Finally, Evercore ISI upped their target price on shares of ServiceNow from $950.00 to $1,000.00 and gave the stock an “outperform” rating in a research report 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 one has given a strong buy rating to the stock. According to data from MarketBeat.com, ServiceNow currently has an average rating of “Moderate Buy” and an average target price of $1,071.39.

Insider Activity at ServiceNow

In related news, insider Jacqueline P. Canney sold 76 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $1,010.94, for a total transaction of $76,831.44. Following the completion of the transaction, the insider now owns 3,027 shares in the company, valued at $3,060,115.38. This trade represents a 2.45 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO William R. Mcdermott sold 12,271 shares of ServiceNow stock in a transaction dated 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 transaction, the chief executive officer now directly owns 2,595 shares of the company’s stock, valued at $2,588,953.65. This represents a 82.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 20,276 shares of company stock worth $20,535,115 in the last 90 days. 0.25% of the stock is owned by company insiders.

ServiceNow Stock Performance

Shares of NYSE NOW opened at $1,057.48 on Thursday. The firm has a market cap of $217.84 billion, a price-to-earnings ratio of 164.46, a P/E/G ratio of 4.65 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 business’s 50-day simple moving average is $1,066.34 and its 200-day simple moving average is $927.52. ServiceNow, Inc. has a 52 week low of $637.99 and a 52 week high of $1,157.90.

ServiceNow (NYSE:NOW) last posted its 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. The business had revenue of $2.80 billion for 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%. ServiceNow’s revenue was up 22.2% compared to the same quarter last year. During the same period last year, the business posted $1.21 EPS. As a group, equities research analysts expect that ServiceNow, Inc. will post 7.07 earnings per share for the current fiscal year.

ServiceNow 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.