Accent Capital Management LLC Decreases Stock Holdings in ServiceNow, Inc. (NYSE:NOW)

Accent Capital Management LLC decreased its stake in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 41.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,519 shares of the information technology services provider's stock after selling 1,089 shares during the period. ServiceNow makes up 0.8% of Accent Capital Management LLC's investment portfolio, making the stock its 26th largest holding. Accent Capital Management LLC's holdings in ServiceNow were worth $1,359,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently bought and sold shares of NOW. Atlanta Consulting Group Advisors LLC bought a new stake in shares of ServiceNow during the 3rd quarter valued at $384,000. Spinnaker Investment Group LLC grew its holdings in ServiceNow by 4.7% in the third quarter. Spinnaker Investment Group LLC now owns 309 shares of the information technology services provider's stock worth $276,000 after purchasing an additional 14 shares during the period. Accredited Investors Inc. bought a new position in shares of ServiceNow during the third quarter valued at approximately $234,000. WESPAC Advisors SoCal LLC grew its stake in shares of ServiceNow by 5.6% in the 3rd quarter. WESPAC Advisors SoCal LLC now owns 3,894 shares of the information technology services provider's stock worth $3,483,000 after buying an additional 205 shares during the last quarter. Finally, Vaughan Nelson Investment Management L.P. increased its position in ServiceNow by 28.2% during the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 205,164 shares of the information technology services provider's stock valued at $183,497,000 after buying an additional 45,099 shares in the last quarter. 87.18% of the stock is owned by institutional investors.

Insider Buying and Selling at ServiceNow

In other news, insider Jacqueline P. Canney sold 66 shares of the stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $1,048.29, for a total transaction of $69,187.14. Following the completion of the sale, the insider now owns 3,027 shares in the company, valued at approximately $3,173,173.83. This represents a 2.13 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Nicholas Tzitzon sold 1,857 shares of the business's stock in a transaction on Monday, August 26th. The stock was sold at an average price of $829.68, for a total value of $1,540,715.76. Following the transaction, the insider now owns 3,649 shares in the company, valued at approximately $3,027,502.32. This trade represents a 33.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 5,325 shares of company stock worth $5,024,928 over the last quarter. Insiders own 0.25% of the company's stock.

ServiceNow Stock Down 2.7 %

ServiceNow stock traded down $28.41 during midday trading on Friday, hitting $1,011.39. 1,498,472 shares of the company's stock were exchanged, compared to its average volume of 1,366,353. ServiceNow, Inc. has a 12 month low of $637.99 and a 12 month high of $1,061.66. 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 company has a market cap of $208.35 billion, a PE ratio of 157.29, a P/E/G ratio of 5.80 and a beta of 0.98. The firm has a 50-day moving average of $932.47 and a two-hundred day moving average of $824.15.

ServiceNow (NYSE:NOW - Get Free Report) 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. The business had revenue of $2.80 billion for the quarter, compared to analysts' expectations of $2.75 billion. ServiceNow had a return on equity of 16.03% and a net margin of 12.77%. The business's revenue for the quarter was up 22.2% on a year-over-year basis. During the same quarter last year, the firm earned $1.21 EPS. As a group, analysts expect that ServiceNow, Inc. will post 7.07 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms have weighed in on NOW. Piper Sandler raised their price objective on shares of ServiceNow from $850.00 to $1,000.00 and gave the company an "overweight" rating in a research note on Thursday, October 24th. Royal Bank of Canada boosted their price objective on shares of ServiceNow from $985.00 to $1,045.00 and gave the stock an "outperform" rating in a report on Thursday, October 24th. Stifel Nicolaus raised their price target on shares of ServiceNow from $900.00 to $990.00 and gave the company a "buy" rating in a report on Thursday, October 24th. Jefferies Financial Group increased their price objective on shares of ServiceNow from $900.00 to $1,100.00 and gave the company a "buy" rating in a research report on Wednesday, October 16th. Finally, Truist Financial upped their price target on ServiceNow from $780.00 to $900.00 and gave the stock a "hold" rating in a research report on Wednesday, October 23rd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-six have issued a buy rating to the stock. Based on data from MarketBeat.com, ServiceNow has a consensus rating of "Moderate Buy" and an average target price of $974.04.

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.