Wrapmanager Inc. Sells 486 Shares of ServiceNow, Inc. (NYSE:NOW)

Wrapmanager Inc. cut its stake in ServiceNow, Inc. (NYSE:NOW) by 20.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,834 shares of the information technology services provider’s stock after selling 486 shares during the quarter. Wrapmanager Inc.’s holdings in ServiceNow were worth $1,640,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of NOW. Creekmur Asset Management LLC bought a new stake in ServiceNow in the first quarter worth $25,000. Versant Capital Management Inc increased its stake in ServiceNow by 466.7% in the second quarter. Versant Capital Management Inc now owns 34 shares of the information technology services provider’s stock worth $27,000 after purchasing an additional 28 shares during the period. EntryPoint Capital LLC increased its stake 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 purchasing an additional 39 shares during the period. Ridgewood Investments LLC purchased a new stake in ServiceNow in the second quarter worth $32,000. Finally, DT Investment Partners LLC increased its stake in 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 purchasing an additional 17 shares during the period. 87.18% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Royal Bank of Canada increased their target price on ServiceNow from $985.00 to $1,045.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. StockNews.com upgraded ServiceNow from a “hold” rating to a “buy” rating in a research note on Tuesday, November 12th. Barclays increased their target price on ServiceNow from $980.00 to $1,000.00 and gave the stock an “overweight” rating in a research note on Thursday, October 24th. Mizuho raised their price target on ServiceNow from $850.00 to $980.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Finally, Morgan Stanley lowered ServiceNow from an “overweight” rating to an “equal weight” rating and raised their price target for the company from $900.00 to $960.00 in a research note on Monday, October 21st. One research analyst has rated the stock with a sell rating, two have given a hold rating and twenty-six have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $974.04.

ServiceNow Stock Performance

Shares of ServiceNow stock opened at $1,004.53 on Tuesday. The business has a 50-day moving average of $935.45 and a 200 day moving average of $827.30. ServiceNow, Inc. has a 12 month low of $637.99 and a 12 month high of $1,061.66. The stock has a market capitalization of $206.93 billion, a price-to-earnings ratio of 156.23, a price-to-earnings-growth ratio of 5.80 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) last posted its quarterly earnings results on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.46 by $0.26. The company had revenue of $2.80 billion for the quarter, compared to analyst estimates of $2.75 billion. ServiceNow had a return on equity of 16.03% and a net margin of 12.77%. ServiceNow’s revenue for the quarter was up 22.2% compared to the same quarter last year. During the same quarter last year, the company earned $1.21 EPS. As a group, sell-side analysts forecast that ServiceNow, Inc. will post 7.07 earnings per share for the current year.

Insider Buying and Selling at ServiceNow

In other ServiceNow news, insider Nicholas Tzitzon sold 1,857 shares of the stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $829.68, for a total value of $1,540,715.76. Following the sale, the insider now owns 3,649 shares of the company’s stock, valued at $3,027,502.32. This trade represents a 33.73 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Jacqueline P. Canney sold 66 shares of the stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $1,048.29, for a total value of $69,187.14. Following the completion of the sale, the insider now directly owns 3,027 shares in the company, valued at $3,173,173.83. This represents a 2.13 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 5,231 shares of company stock valued at $4,947,292 in the last quarter. Corporate insiders own 0.25% of the company’s stock.

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.