RFG Advisory LLC Sells 71 Shares of ServiceNow, Inc. (NYSE:NOW)

RFG Advisory LLC cut its holdings in ServiceNow, Inc. (NYSE:NOW) by 1.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,910 shares of the information technology services provider’s stock after selling 71 shares during the period. RFG Advisory LLC’s holdings in ServiceNow were worth $5,205,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in NOW. Public Sector Pension Investment Board raised its holdings in ServiceNow by 74.4% in the 2nd quarter. Public Sector Pension Investment Board now owns 7,884 shares of the information technology services provider’s stock worth $6,202,000 after purchasing an additional 3,364 shares during the period. AlTi Global Inc. increased its position in ServiceNow by 18.6% in the second quarter. AlTi Global Inc. now owns 751 shares of the information technology services provider’s stock worth $591,000 after buying an additional 118 shares in the last quarter. AQR Capital Management LLC raised its stake in shares of ServiceNow by 9.4% in the second quarter. AQR Capital Management LLC now owns 156,227 shares of the information technology services provider’s stock worth $121,369,000 after buying an additional 13,367 shares during the period. APG Asset Management US Inc. lifted its position in shares of ServiceNow by 2.4% during the 2nd quarter. APG Asset Management US Inc. now owns 64,216 shares of the information technology services provider’s stock valued at $50,664,000 after buying an additional 1,517 shares in the last quarter. Finally, APG Asset Management N.V. grew its stake in shares of ServiceNow by 3.0% during the 2nd quarter. APG Asset Management N.V. now owns 156,223 shares of the information technology services provider’s stock valued at $114,668,000 after acquiring an additional 4,597 shares during the period. 87.18% of the stock is currently owned by institutional investors.

ServiceNow Stock Up 0.6 %

Shares of NYSE:NOW opened at $1,132.30 on Friday. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.13 and a quick ratio of 1.13. The business has a 50 day simple moving average of $1,072.95 and a two-hundred day simple moving average of $938.64. ServiceNow, Inc. has a 1 year low of $637.99 and a 1 year high of $1,157.90. The firm has a market capitalization of $233.25 billion, a PE ratio of 176.10, a price-to-earnings-growth ratio of 5.11 and a beta of 0.99.

ServiceNow (NYSE:NOW) last posted its quarterly earnings data 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. ServiceNow had a return on equity of 16.03% and a net margin of 12.77%. The company had revenue of $2.80 billion during the quarter, compared to analysts’ expectations of $2.75 billion. During the same quarter in the previous year, the business earned $1.21 EPS. ServiceNow’s revenue was up 22.2% compared to the same quarter last year. On average, equities analysts predict that ServiceNow, Inc. will post 7.06 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have commented on NOW. Morgan Stanley cut shares of ServiceNow from an “overweight” rating to an “equal weight” rating and raised their target price for the stock from $900.00 to $960.00 in a research note on Monday, October 21st. JMP Securities lifted 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 research note on Tuesday. KeyCorp lowered ServiceNow from an “overweight” rating to a “sector weight” rating in a research note on Friday, December 13th. Scotiabank began coverage on ServiceNow in a research report on Tuesday, November 19th. They issued a “sector outperform” rating and a $1,230.00 price objective on the stock. Finally, Needham & Company LLC increased their target price on ServiceNow from $1,075.00 to $1,150.00 and gave the stock a “buy” rating in a research report on Monday, November 25th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-five have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, ServiceNow has a consensus rating of “Moderate Buy” and a consensus price target of $1,093.34.

Insider Activity

In related news, CEO William R. Mcdermott sold 12,271 shares of ServiceNow stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 2,595 shares of the company’s stock, valued at $2,588,953.65. This trade represents a 82.54 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Jacqueline P. Canney sold 76 shares of the stock in a transaction on Friday, November 8th. The shares were sold at an average price of $1,010.94, for a total value of $76,831.44. Following the sale, the insider now directly owns 3,027 shares in the company, valued at $3,060,115.38. This trade represents a 2.45 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 20,731 shares of company stock valued at $21,016,751. 0.25% of the stock is currently owned by company insiders.

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.