Townsquare Capital LLC Sells 1,975 Shares of ServiceNow, Inc. (NYSE:NOW)

Townsquare Capital LLC cut its position in ServiceNow, Inc. (NYSE:NOW - Free Report) by 3.1% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 61,660 shares of the information technology services provider's stock after selling 1,975 shares during the quarter. ServiceNow accounts for 0.7% of Townsquare Capital LLC's portfolio, making the stock its 28th largest position. Townsquare Capital LLC's holdings in ServiceNow were worth $55,148,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Creekmur Asset Management LLC acquired a new position in shares of ServiceNow in the 1st quarter valued at approximately $25,000. Versant Capital Management Inc grew its position 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 worth $27,000 after acquiring an additional 28 shares in the last quarter. EntryPoint Capital LLC lifted its holdings 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 acquiring an additional 39 shares during the last quarter. Truvestments Capital LLC acquired a new position in ServiceNow in the third quarter valued at approximately $30,000. Finally, Ridgewood Investments LLC acquired a new stake in shares of ServiceNow during the 2nd quarter worth approximately $32,000. 87.18% of the stock is owned by institutional investors and hedge funds.

Insider Activity at ServiceNow

In other ServiceNow news, insider Jacqueline P. Canney sold 353 shares of the business's stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $924.96, for a total transaction of $326,510.88. Following the sale, the insider now directly owns 3,027 shares of the company's stock, valued at $2,799,853.92. The trade was a 10.44 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO William R. Mcdermott sold 12,271 shares of the stock in a transaction dated Tuesday, November 19th. The stock was 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 approximately $2,588,953.65. This represents a 82.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 20,329 shares of company stock valued at $20,547,241. 0.25% of the stock is owned by corporate insiders.

ServiceNow Trading Down 2.7 %

Shares of NYSE:NOW traded down $28.65 during trading on Wednesday, hitting $1,041.42. 976,988 shares of the company's stock were exchanged, compared to its average volume of 1,284,065. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.16. The firm has a market cap of $214.53 billion, a P/E ratio of 161.96, a PEG ratio of 6.04 and a beta of 0.98. The firm has a 50-day moving average price of $958.40 and a two-hundred day moving average price of $842.41. ServiceNow, Inc. has a 1-year low of $637.99 and a 1-year high of $1,072.84.

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

Analysts Set New Price Targets

NOW has been the topic of several analyst reports. UBS Group increased their target price on ServiceNow from $900.00 to $1,055.00 and gave the stock a "buy" rating in a research report on Tuesday, October 8th. Stifel Nicolaus increased their price objective on shares of ServiceNow from $900.00 to $990.00 and gave the stock a "buy" rating in a report on Thursday, October 24th. BMO Capital Markets lifted their price objective on shares of ServiceNow from $860.00 to $1,025.00 and gave the company an "outperform" rating in a research report on Thursday, October 10th. TD Cowen upped their target price on shares of ServiceNow from $900.00 to $1,000.00 and gave the stock a "buy" rating in a research report on Monday, October 21st. Finally, Needham & Company LLC lifted their price target on ServiceNow from $1,075.00 to $1,150.00 and gave the company a "buy" rating in a report on Monday. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty-six have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $989.07.

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.