ServiceNow, Inc. (NYSE:NOW) Shares Sold by SageView Advisory Group LLC

SageView Advisory Group LLC reduced its position in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 51.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,474 shares of the information technology services provider's stock after selling 1,555 shares during the period. SageView Advisory Group LLC's holdings in ServiceNow were worth $1,318,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Wesbanco Bank Inc. purchased a new position in ServiceNow in the second quarter valued at $205,000. CX Institutional boosted its holdings in ServiceNow by 3.0% in the second quarter. CX Institutional now owns 1,076 shares of the information technology services provider's stock valued at $846,000 after purchasing an additional 31 shares during the period. U.S. Capital Wealth Advisors LLC boosted its holdings in ServiceNow by 350.8% in the second quarter. U.S. Capital Wealth Advisors LLC now owns 1,898 shares of the information technology services provider's stock valued at $1,493,000 after purchasing an additional 1,477 shares during the period. Capital Investment Advisors LLC boosted its holdings in ServiceNow by 28.6% in the second quarter. Capital Investment Advisors LLC now owns 2,358 shares of the information technology services provider's stock valued at $1,855,000 after purchasing an additional 525 shares during the period. Finally, Sax Wealth Advisors LLC boosted its holdings in ServiceNow by 48.2% in the second quarter. Sax Wealth Advisors LLC now owns 621 shares of the information technology services provider's stock valued at $489,000 after purchasing an additional 202 shares during the period. 87.18% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on NOW. Jefferies Financial Group lifted their target price on ServiceNow from $1,100.00 to $1,250.00 and gave the company a "buy" rating in a report on Monday. TD Cowen lifted their price target on ServiceNow from $900.00 to $1,000.00 and gave the stock a "buy" rating in a report on Monday, October 21st. Barclays lifted 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. Oppenheimer lifted their price target on ServiceNow from $1,020.00 to $1,150.00 and gave the stock an "outperform" rating in a report on Tuesday. Finally, Piper Sandler lifted their price target on ServiceNow from $850.00 to $1,000.00 and gave the stock an "overweight" rating in a report on Thursday, October 24th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, twenty-six have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $1,002.64.

ServiceNow Stock Performance

NOW stock traded up $0.62 during trading on Friday, hitting $1,124.34. The company had a trading volume of 901,544 shares, compared to its average volume of 1,280,938. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.16. The firm has a 50-day moving average price of $977.66 and a 200-day moving average price of $855.37. ServiceNow, Inc. has a 1-year low of $637.99 and a 1-year high of $1,137.00. The firm has a market cap of $231.61 billion, a PE ratio of 174.86, a price-to-earnings-growth ratio of 6.07 and a beta of 0.99.

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

Insider Transactions at ServiceNow

In other news, insider Jacqueline P. Canney sold 353 shares of the stock in a transaction that occurred 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 transaction, the insider now directly owns 3,027 shares of the company's stock, valued at approximately $2,799,853.92. This represents a 10.44 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO William R. Mcdermott sold 12,271 shares of the company's stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $997.67, for a total value of $12,242,408.57. Following the completion of the sale, the chief executive officer now owns 2,595 shares in the company, valued at approximately $2,588,953.65. This represents a 82.54 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 20,629 shares of company stock valued at $20,861,626. Corporate insiders own 0.25% of the company's stock.

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.