Cornercap Investment Counsel Inc. Sells 1,093 Shares of ServiceNow, Inc. (NYSE:NOW)

Cornercap Investment Counsel Inc. trimmed its position in ServiceNow, Inc. (NYSE:NOW - Free Report) by 51.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,036 shares of the information technology services provider's stock after selling 1,093 shares during the quarter. Cornercap Investment Counsel Inc.'s holdings in ServiceNow were worth $927,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in NOW. Creekmur Asset Management LLC purchased a new stake in shares of ServiceNow in the first quarter worth about $25,000. Versant Capital Management Inc lifted its holdings in shares of ServiceNow by 466.7% in the 2nd quarter. Versant Capital Management Inc now owns 34 shares of the information technology services provider's stock valued at $27,000 after acquiring an additional 28 shares during the last quarter. EntryPoint Capital LLC lifted its position in ServiceNow by 3,900.0% in the first quarter. EntryPoint Capital LLC now owns 40 shares of the information technology services provider's stock worth $30,000 after buying an additional 39 shares during the last quarter. Ridgewood Investments LLC bought a new position in shares of ServiceNow during the second quarter valued at approximately $32,000. Finally, DT Investment Partners LLC raised its holdings in shares of ServiceNow by 77.3% in the third quarter. DT Investment Partners LLC now owns 39 shares of the information technology services provider's stock worth $35,000 after buying an additional 17 shares during the period. 87.18% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at ServiceNow

In other news, Director Jeffrey A. Miller sold 2,879 shares of the company's stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $1,019.12, for a total transaction of $2,934,046.48. Following the completion of the transaction, the director now directly owns 42,920 shares of the company's stock, valued at approximately $43,740,630.40. This represents a 6.29 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jacqueline P. Canney sold 94 shares of the company's stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $825.92, for a total transaction of $77,636.48. Following the completion of the sale, the insider now directly owns 4,019 shares of the company's stock, valued at approximately $3,319,372.48. This represents a 2.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 5,325 shares of company stock valued at $5,024,928. Company insiders own 0.25% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have commented on NOW. Sanford C. Bernstein increased their price target on shares of ServiceNow from $906.00 to $913.00 and gave the company an "outperform" rating in a research report on Thursday, October 24th. Royal Bank of Canada raised their price objective on shares of ServiceNow from $985.00 to $1,045.00 and gave the stock an "outperform" rating in a research note on Thursday, October 24th. Jefferies Financial Group raised their target price on ServiceNow from $900.00 to $1,100.00 and gave the company a "buy" rating in a research report on Wednesday, October 16th. Canaccord Genuity Group raised their price objective on ServiceNow from $850.00 to $1,000.00 and gave the company a "buy" rating in a report on Thursday, October 24th. Finally, Needham & Company LLC upped their target price on ServiceNow from $900.00 to $1,075.00 and gave the stock a "buy" rating in a research note on Thursday, October 24th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $974.04.

ServiceNow Stock Performance

Shares of NOW traded down $28.41 during mid-day trading on Friday, reaching $1,011.39. 1,492,176 shares of the company's stock were exchanged, compared to its average volume of 1,281,104. The business's fifty day simple moving average is $928.75 and its 200-day simple moving average is $821.23. ServiceNow, Inc. has a 52-week low of $637.99 and a 52-week high of $1,061.66. The stock has a market capitalization of $208.35 billion, a PE ratio of 159.03, a price-to-earnings-growth ratio of 6.00 and a beta of 0.98. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.13 and a quick ratio of 1.13.

ServiceNow (NYSE:NOW - Get Free Report) last announced its quarterly earnings data on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share 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 for the quarter, compared to analyst estimates of $2.75 billion. During the same quarter in the previous year, the company earned $1.21 EPS. The firm's revenue for the quarter was up 22.2% compared to the same quarter last year. On average, equities research analysts expect that ServiceNow, Inc. will post 7.07 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.