Perfromance Wealth Partners LLC Sells 17 Shares of ServiceNow, Inc. (NYSE:NOW)

Perfromance Wealth Partners LLC cut its position in ServiceNow, Inc. (NYSE:NOW) by 1.7% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 956 shares of the information technology services provider’s stock after selling 17 shares during the period. Perfromance Wealth Partners LLC’s holdings in ServiceNow were worth $1,013,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of NOW. EverSource Wealth Advisors LLC raised its holdings in shares of ServiceNow by 5.8% during the second quarter. EverSource Wealth Advisors LLC now owns 815 shares of the information technology services provider’s stock valued at $664,000 after purchasing an additional 45 shares during the last quarter. Public Sector Pension Investment Board raised its holdings in shares of ServiceNow by 74.4% during the second quarter. Public Sector Pension Investment Board now owns 7,884 shares of the information technology services provider’s stock valued at $6,202,000 after purchasing an additional 3,364 shares during the last quarter. Lombard Odier Asset Management Europe Ltd purchased a new position in shares of ServiceNow during the second quarter valued at approximately $1,680,000. Resources Management Corp CT ADV raised its holdings in shares of ServiceNow by 136.6% during the second quarter. Resources Management Corp CT ADV now owns 1,266 shares of the information technology services provider’s stock valued at $996,000 after purchasing an additional 731 shares during the last quarter. Finally, Farallon Capital Management LLC raised its holdings in shares of ServiceNow by 14.9% during the second quarter. Farallon Capital Management LLC now owns 454,050 shares of the information technology services provider’s stock valued at $357,188,000 after purchasing an additional 58,962 shares during the last quarter. 87.18% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CEO William R. Mcdermott sold 12,271 shares of the firm’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $997.67, for a total value of $12,242,408.57. Following the sale, the chief executive officer now directly 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 Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jacqueline P. Canney sold 455 shares of the firm’s stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $1,058.54, for a total transaction of $481,635.70. Following the completion of the sale, the insider now owns 3,027 shares in the company, valued at $3,204,200.58. This represents a 13.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 20,731 shares of company stock valued at $21,016,751 in the last 90 days. Company insiders own 0.25% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on NOW shares. JMP Securities upped their target price on shares of ServiceNow from $1,000.00 to $1,300.00 and gave the company a “market outperform” rating in a report on Tuesday. KeyCorp cut shares of ServiceNow from an “overweight” rating to a “sector weight” rating in a report on Friday, December 13th. Cantor Fitzgerald started coverage on shares of ServiceNow in a report on Friday, January 17th. They set an “overweight” rating and a $1,332.00 target price for the company. Robert W. Baird upped their price target on shares of ServiceNow from $900.00 to $975.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Finally, The Goldman Sachs Group upped their price target on shares of ServiceNow from $1,050.00 to $1,200.00 and gave the stock a “buy” rating in a research report on Friday, January 10th. 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 two have given a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $1,090.72.

ServiceNow Trading Up 2.4 %

Shares of NOW opened at $1,097.53 on Wednesday. ServiceNow, Inc. has a twelve month low of $637.99 and a twelve month high of $1,157.90. The company has a market cap of $226.09 billion, a P/E ratio of 170.69, a P/E/G ratio of 4.85 and a beta of 0.99. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.16. The company’s fifty day simple moving average is $1,070.37 and its 200-day simple moving average is $935.27.

ServiceNow (NYSE:NOW) last posted its quarterly earnings results on Wednesday, October 23rd. The information technology services provider reported $3.72 EPS for the quarter, topping 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 firm’s revenue was up 22.2% compared to the same quarter last year. During the same quarter last year, the firm posted $1.21 EPS. As a group, analysts expect that ServiceNow, Inc. will post 7.06 EPS for the current year.

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.