DAVENPORT & Co LLC Sells 26,760 Shares of ServiceNow, Inc. (NYSE:NOW)

DAVENPORT & Co LLC cut its stake in shares of ServiceNow, Inc. (NYSE:NOWFree Report) by 20.2% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 105,874 shares of the information technology services provider’s stock after selling 26,760 shares during the quarter. DAVENPORT & Co LLC owned approximately 0.05% of ServiceNow worth $74,578,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in NOW. Norges Bank bought a new position in shares of ServiceNow during the fourth quarter valued at $872,202,000. Moneta Group Investment Advisors LLC raised its holdings in shares of ServiceNow by 69,897.5% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 856,069 shares of the information technology services provider’s stock valued at $332,386,000 after buying an additional 854,846 shares during the last quarter. FMR LLC raised its holdings in shares of ServiceNow by 17.3% in the third quarter. FMR LLC now owns 4,036,796 shares of the information technology services provider’s stock valued at $2,256,407,000 after buying an additional 595,697 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its holdings in shares of ServiceNow by 129.4% in the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 994,367 shares of the information technology services provider’s stock valued at $386,082,000 after buying an additional 560,908 shares during the last quarter. Finally, Jennison Associates LLC raised its holdings in shares of ServiceNow by 23.0% in the third quarter. Jennison Associates LLC now owns 2,467,471 shares of the information technology services provider’s stock valued at $1,379,217,000 after buying an additional 461,614 shares during the last quarter. 87.18% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Piper Sandler lifted their price target on ServiceNow from $750.00 to $830.00 and gave the company an “overweight” rating in a report on Thursday, January 25th. Mizuho lifted their price target on ServiceNow from $750.00 to $820.00 and gave the company a “buy” rating in a report on Thursday, January 25th. The Goldman Sachs Group boosted their price objective on ServiceNow from $800.00 to $910.00 and gave the stock a “buy” rating in a report on Thursday, January 25th. Needham & Company LLC boosted their price objective on ServiceNow from $660.00 to $900.00 and gave the stock a “buy” rating in a report on Monday, January 22nd. Finally, Truist Financial boosted their price objective on ServiceNow from $700.00 to $750.00 and gave the stock a “hold” rating in a report on Thursday, January 25th. Two research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company. Based on data from MarketBeat, ServiceNow has an average rating of “Moderate Buy” and an average price target of $762.96.

Check Out Our Latest Report on NOW

Insider Buying and Selling at ServiceNow

In other news, insider Paul John Smith sold 5,159 shares of the company’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $745.32, for a total transaction of $3,845,105.88. Following the sale, the insider now owns 5,453 shares in the company, valued at approximately $4,064,229.96. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, insider Paul John Smith sold 5,159 shares of the company’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $745.32, for a total transaction of $3,845,105.88. Following the sale, the insider now owns 5,453 shares in the company, valued at approximately $4,064,229.96. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO William R. Mcdermott sold 5,030 shares of the company’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $753.08, for a total value of $3,787,992.40. Following the sale, the chief executive officer now owns 17,177 shares in the company, valued at approximately $12,935,655.16. The disclosure for this sale can be found here. In the last quarter, insiders have sold 13,164 shares of company stock worth $9,940,303. Corporate insiders own 0.28% of the company’s stock.

ServiceNow Stock Down 1.5 %

Shares of NOW traded down $11.37 on Tuesday, hitting $757.00. The company’s stock had a trading volume of 755,794 shares, compared to its average volume of 1,219,724. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.20. The firm’s fifty day moving average price is $770.51 and its 200-day moving average price is $684.36. ServiceNow, Inc. has a fifty-two week low of $427.68 and a fifty-two week high of $815.32. The firm has a market capitalization of $155.19 billion, a price-to-earnings ratio of 90.01, a P/E/G ratio of 4.86 and a beta of 0.97.

ServiceNow (NYSE:NOWGet Free Report) last released its earnings results on Wednesday, January 24th. The information technology services provider reported $3.11 EPS for the quarter, beating the consensus estimate of $2.77 by $0.34. The firm had revenue of $2.44 billion for the quarter, compared to analysts’ expectations of $2.40 billion. ServiceNow had a return on equity of 11.85% and a net margin of 19.30%. The business’s quarterly revenue was up 25.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.88 EPS. On average, equities research analysts expect that ServiceNow, Inc. will post 6.11 EPS for the current year.

ServiceNow Company Profile

(Free Report)

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.

Recommended Stories

Institutional Ownership by Quarter for ServiceNow (NYSE:NOW)

Receive News & Ratings for ServiceNow Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ServiceNow and related companies with MarketBeat.com's FREE daily email newsletter.