Beck Capital Management LLC Trims Position in ServiceNow, Inc. (NYSE:NOW)

Beck Capital Management LLC lessened its position in ServiceNow, Inc. (NYSE:NOW - Free Report) by 10.5% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,088 shares of the information technology services provider's stock after selling 480 shares during the period. Beck Capital Management LLC's holdings in ServiceNow were worth $3,656,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of NOW. Versant Capital Management Inc grew its holdings in ServiceNow by 466.7% during the 2nd quarter. Versant Capital Management Inc now owns 34 shares of the information technology services provider's stock worth $27,000 after acquiring an additional 28 shares during the last quarter. Mather Group LLC. increased its holdings in ServiceNow by 13.1% in the second quarter. Mather Group LLC. now owns 3,476 shares of the information technology services provider's stock valued at $2,650,000 after purchasing an additional 402 shares during the period. Trust Co. of Vermont raised its position in ServiceNow by 64.4% during the 2nd quarter. Trust Co. of Vermont now owns 462 shares of the information technology services provider's stock worth $363,000 after purchasing an additional 181 shares during the last quarter. Fulton Bank N.A. lifted its holdings in ServiceNow by 14.4% during the 2nd quarter. Fulton Bank N.A. now owns 1,689 shares of the information technology services provider's stock worth $1,329,000 after buying an additional 212 shares during the period. Finally, Harbor Capital Advisors Inc. grew its position in shares of ServiceNow by 7.2% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 7,239 shares of the information technology services provider's stock valued at $5,695,000 after buying an additional 489 shares during the last quarter. 87.18% of the stock is currently owned by institutional investors.

ServiceNow Price Performance

NOW stock traded down $1.01 during mid-day trading on Monday, hitting $1,048.43. 1,056,555 shares of the stock were exchanged, compared to its average volume of 1,280,064. The business has a fifty day moving average price of $963.10 and a 200 day moving average price of $847.50. ServiceNow, Inc. has a 12 month low of $637.99 and a 12 month high of $1,072.84. 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 stock has a market capitalization of $215.98 billion, a price-to-earnings ratio of 163.05, a PEG ratio of 6.02 and a beta of 0.98.

ServiceNow (NYSE:NOW - Get Free Report) last issued its quarterly earnings results on Wednesday, October 23rd. The information technology services provider reported $3.72 EPS for the quarter, beating analysts' consensus estimates of $3.46 by $0.26. ServiceNow had a net margin of 12.77% and a return on equity of 16.03%. The business had revenue of $2.80 billion for the quarter, compared to analysts' expectations of $2.75 billion. During the same period last year, the business earned $1.21 earnings per share. The business's quarterly revenue was up 22.2% on a year-over-year basis. On average, sell-side analysts anticipate that ServiceNow, Inc. will post 7.07 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Mizuho upped their target price on ServiceNow from $980.00 to $1,070.00 and gave the company an "outperform" rating in a report on Tuesday, November 19th. Jefferies Financial Group upped their price objective on shares of ServiceNow from $1,100.00 to $1,250.00 and gave the company a "buy" rating in a research note on Monday. Canaccord Genuity Group boosted their target price on shares of ServiceNow from $850.00 to $1,000.00 and gave the company a "buy" rating in a report on Thursday, October 24th. Barclays increased their price target on ServiceNow from $980.00 to $1,000.00 and gave the stock an "overweight" rating in a report on Thursday, October 24th. Finally, Wells Fargo & Company boosted their price objective on ServiceNow from $1,050.00 to $1,150.00 and gave the company an "overweight" rating in a research note on Tuesday, November 12th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty-six have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $994.43.

Insider Buying and Selling

In related news, insider Nicholas Tzitzon sold 313 shares of the company's stock in a transaction on Monday, November 25th. The shares were sold at an average price of $1,064.60, for a total transaction of $333,219.80. Following the completion of the sale, the insider now directly owns 3,649 shares in the company, valued at $3,884,725.40. This represents a 7.90 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Jacqueline P. Canney sold 353 shares of the firm's stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $924.96, for a total transaction of $326,510.88. Following the completion of the sale, the insider now directly owns 3,027 shares in the company, valued at approximately $2,799,853.92. This trade represents a 10.44 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 20,329 shares of company stock worth $20,547,241 in the last 90 days. 0.25% of the stock is 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.