CHURCHILL MANAGEMENT Corp Sells 247 Shares of ServiceNow, Inc. (NYSE:NOW)

CHURCHILL MANAGEMENT Corp cut its holdings in ServiceNow, Inc. (NYSE:NOW - Free Report) by 1.9% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 12,991 shares of the information technology services provider's stock after selling 247 shares during the quarter. CHURCHILL MANAGEMENT Corp's holdings in ServiceNow were worth $13,772,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Truvestments Capital LLC acquired a new position in shares of ServiceNow during the third quarter worth $30,000. DT Investment Partners LLC increased its holdings in ServiceNow by 77.3% in the 3rd quarter. DT Investment Partners LLC now owns 39 shares of the information technology services provider's stock worth $35,000 after purchasing an additional 17 shares in the last quarter. Semmax Financial Advisors Inc. bought a new position in ServiceNow in the second quarter valued at about $39,000. Oakworth Capital Inc. boosted its stake in shares of ServiceNow by 46.7% during the third quarter. Oakworth Capital Inc. now owns 44 shares of the information technology services provider's stock valued at $39,000 after purchasing an additional 14 shares in the last quarter. Finally, Dunhill Financial LLC grew its holdings in shares of ServiceNow by 70.0% during the third quarter. Dunhill Financial LLC now owns 51 shares of the information technology services provider's stock worth $46,000 after purchasing an additional 21 shares during the last quarter. 87.18% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently commented on NOW. StockNews.com upgraded shares of ServiceNow from a "hold" rating to a "buy" rating in a research report on Tuesday, November 12th. Mizuho boosted their price objective on shares of ServiceNow from $1,070.00 to $1,210.00 and gave the stock an "outperform" rating in a research note on Friday, December 13th. Truist Financial raised their target price on ServiceNow from $900.00 to $1,100.00 and gave the stock a "hold" rating in a research report on Thursday, December 12th. Wells Fargo & Company upped their price target on ServiceNow from $1,150.00 to $1,250.00 and gave the company an "overweight" rating in a research report on Thursday, December 5th. Finally, Canaccord Genuity Group raised their price objective on ServiceNow from $1,000.00 to $1,200.00 and gave the stock a "buy" rating in a research report on Friday, December 20th. 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 one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $1,071.39.

ServiceNow Stock Up 0.3 %

Shares of ServiceNow stock traded up $3.07 during trading hours on Thursday, reaching $1,057.20. The company's stock had a trading volume of 632,087 shares, compared to its average volume of 1,181,517. The company has a market capitalization of $217.78 billion, a P/E ratio of 164.42, a P/E/G ratio of 4.65 and a beta of 0.99. The stock's fifty day simple moving average is $1,067.55 and its two-hundred day simple moving average is $928.41. ServiceNow, Inc. has a one year low of $637.99 and a one year high of $1,157.90. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.13 and a current ratio of 1.13.

ServiceNow (NYSE:NOW - Get Free Report) last announced its quarterly earnings results on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share 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 net margin of 12.77% and a return on equity of 16.03%. The firm's revenue for the quarter was up 22.2% compared to the same quarter last year. During the same quarter last year, the firm earned $1.21 EPS. On average, research analysts forecast that ServiceNow, Inc. will post 7.07 earnings per share for the current year.

Insider Activity

In other ServiceNow 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 owns 2,595 shares of the company's stock, valued at $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 available through the SEC website. Also, insider Nicholas Tzitzon sold 313 shares of the company's stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $1,064.60, for a total value of $333,219.80. Following the completion of the transaction, the insider now directly owns 3,649 shares of the company's stock, valued at approximately $3,884,725.40. This represents a 7.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 20,276 shares of company stock worth $20,535,115 over the last 90 days. 0.25% of the stock is currently owned by corporate insiders.

ServiceNow Company 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.