ServiceNow, Inc. (NYSE:NOW) Position Trimmed by GraniteShares Advisors LLC

GraniteShares Advisors LLC decreased its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 20.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,862 shares of the information technology services provider’s stock after selling 467 shares during the period. GraniteShares Advisors LLC’s holdings in ServiceNow were worth $1,315,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Wealth Management Partners LLC boosted its holdings in shares of ServiceNow by 2.7% during the fourth quarter. Wealth Management Partners LLC now owns 531 shares of the information technology services provider’s stock valued at $375,000 after acquiring an additional 14 shares during the period. Trust Co. of Vermont boosted its holdings in shares of ServiceNow by 8.6% during the third quarter. Trust Co. of Vermont now owns 190 shares of the information technology services provider’s stock valued at $106,000 after acquiring an additional 15 shares during the period. Claro Advisors LLC boosted its holdings in shares of ServiceNow by 3.6% during the fourth quarter. Claro Advisors LLC now owns 428 shares of the information technology services provider’s stock valued at $302,000 after acquiring an additional 15 shares during the period. Country Club Bank GFN boosted its holdings in shares of ServiceNow by 1.6% during the fourth quarter. Country Club Bank GFN now owns 951 shares of the information technology services provider’s stock valued at $668,000 after acquiring an additional 15 shares during the period. Finally, Nemes Rush Group LLC lifted its holdings in ServiceNow by 16.3% in the third quarter. Nemes Rush Group LLC now owns 121 shares of the information technology services provider’s stock worth $68,000 after purchasing an additional 17 shares during the period. Institutional investors own 87.18% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on NOW shares. Needham & Company LLC reaffirmed a “buy” rating and issued a $900.00 price objective on shares of ServiceNow in a report on Tuesday. KeyCorp initiated coverage on ServiceNow in a report on Thursday, March 21st. They issued an “overweight” rating and a $1,000.00 target price on the stock. Robert W. Baird upped their target price on ServiceNow from $780.00 to $870.00 and gave the company an “outperform” rating in a report on Thursday, January 25th. Royal Bank of Canada upped their target price on ServiceNow from $840.00 to $850.00 and gave the company an “outperform” rating in a report on Thursday, January 25th. Finally, BMO Capital Markets increased their price objective on ServiceNow from $630.00 to $850.00 and gave the stock an “outperform” rating in a report on Thursday, January 25th. Three analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $780.00.

Insider Activity

In other news, insider Paul John Smith sold 1,795 shares of the firm’s stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $781.06, for a total value of $1,402,002.70. Following the completion of the sale, the insider now directly owns 994 shares in the company, valued at $776,373.64. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, insider Paul John Smith sold 1,795 shares of the firm’s stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $781.06, for a total value of $1,402,002.70. Following the transaction, the insider now owns 994 shares in the company, valued at $776,373.64. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO William R. Mcdermott sold 5,030 shares of the firm’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $753.08, for a total value of $3,787,992.40. Following the transaction, the chief executive officer now owns 17,177 shares in the company, valued at approximately $12,935,655.16. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 13,164 shares of company stock worth $9,940,303. 0.25% of the stock is owned by corporate insiders.

ServiceNow Price Performance

ServiceNow stock traded up $8.83 during mid-day trading on Tuesday, hitting $744.64. 1,085,533 shares of the company were exchanged, compared to its average volume of 1,182,619. ServiceNow, Inc. has a 1-year low of $427.68 and a 1-year high of $815.32. The company has a market capitalization of $152.93 billion, a PE ratio of 88.04, a price-to-earnings-growth ratio of 4.86 and a beta of 0.97. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.20. The business has a fifty day moving average of $769.28 and a 200 day moving average of $698.87.

ServiceNow (NYSE:NOW) last announced its earnings results on Wednesday, January 24th. The information technology services provider reported $3.11 earnings per share for the quarter, beating analysts’ consensus estimates of $2.77 by $0.34. ServiceNow had a return on equity of 11.85% and a net margin of 19.30%. The company had revenue of $2.44 billion during the quarter, compared to analyst estimates of $2.40 billion. During the same period last year, the company posted $0.88 earnings per share. The firm’s quarterly revenue was up 25.6% compared to the same quarter last year. As a group, sell-side analysts expect that ServiceNow, Inc. will post 6.16 earnings per share for the current 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.