ServiceNow, Inc. (NYSE:NOW) Stake Lowered by Cabot Wealth Management Inc.

Cabot Wealth Management Inc. trimmed its holdings in ServiceNow, Inc. (NYSE:NOW) by 0.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,929 shares of the information technology services provider’s stock after selling 19 shares during the quarter. Cabot Wealth Management Inc.’s holdings in ServiceNow were worth $4,408,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Creative Planning grew its holdings in ServiceNow by 8.1% in the 3rd quarter. Creative Planning now owns 55,887 shares of the information technology services provider’s stock worth $49,985,000 after buying an additional 4,170 shares in the last quarter. Wesbanco Bank Inc. grew its holdings in ServiceNow by 40.8% in the 3rd quarter. Wesbanco Bank Inc. now owns 366 shares of the information technology services provider’s stock worth $327,000 after buying an additional 106 shares in the last quarter. CX Institutional grew its holdings in ServiceNow by 1.2% in the 3rd quarter. CX Institutional now owns 1,089 shares of the information technology services provider’s stock worth $974,000 after buying an additional 13 shares in the last quarter. Sivia Capital Partners LLC grew its holdings in ServiceNow by 20.9% in the 3rd quarter. Sivia Capital Partners LLC now owns 474 shares of the information technology services provider’s stock worth $424,000 after buying an additional 82 shares in the last quarter. Finally, Grove Bank & Trust boosted its stake in ServiceNow by 1.5% during the 3rd quarter. Grove Bank & Trust now owns 4,258 shares of the information technology services provider’s stock valued at $3,808,000 after purchasing an additional 63 shares in the last quarter. 87.18% of the stock is owned by institutional investors.

ServiceNow Stock Performance

Shares of NYSE NOW traded down $16.73 during mid-day trading on Tuesday, hitting $927.96. The company had a trading volume of 1,080,309 shares, compared to its average volume of 1,275,675. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.12 and a quick ratio of 1.12. The business’s 50-day simple moving average is $864.42 and its 200-day simple moving average is $787.72. ServiceNow, Inc. has a 12 month low of $527.24 and a 12 month high of $949.59. The firm has a market cap of $190.23 billion, a P/E ratio of 101.04, a PEG ratio of 5.63 and a beta of 0.99.

ServiceNow (NYSE:NOW) last announced its quarterly earnings results on Wednesday, July 24th. The information technology services provider reported $3.13 EPS for the quarter, topping analysts’ consensus estimates of $2.85 by $0.28. The firm had revenue of $2.63 billion during the quarter, compared to analysts’ expectations of $2.61 billion. ServiceNow had a net margin of 11.51% and a return on equity of 14.52%. The company’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 $0.77 earnings per share. As a group, analysts predict that ServiceNow, Inc. will post 6.78 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

NOW has been the subject of a number of research reports. Evercore ISI increased their price target on ServiceNow from $850.00 to $950.00 and gave the company an “outperform” rating in a research note on Wednesday, October 9th. Guggenheim reiterated a “sell” rating and set a $640.00 price objective on shares of ServiceNow in a research report on Monday, July 8th. Deutsche Bank Aktiengesellschaft increased their price objective on ServiceNow from $875.00 to $900.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. Wells Fargo & Company increased their price objective on ServiceNow from $935.00 to $1,025.00 and gave the company an “overweight” rating in a research report on Monday, October 7th. Finally, KeyCorp cut their price objective on ServiceNow from $950.00 to $920.00 and set an “overweight” rating for the company in a research report on Tuesday, July 2nd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and twenty-five have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $880.04.

Insiders Place Their Bets

In other ServiceNow news, CFO Gina Mastantuono sold 1,800 shares of the firm’s stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $825.00, for a total transaction of $1,485,000.00. Following the completion of the transaction, the chief financial officer now owns 11,490 shares in the company, valued at $9,479,250. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, insider Nicholas Tzitzon sold 1,857 shares of ServiceNow stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $829.68, for a total value of $1,540,715.76. Following the completion of the transaction, the insider now owns 3,649 shares in the company, valued at approximately $3,027,502.32. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Gina Mastantuono sold 1,800 shares of ServiceNow stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $825.00, for a total transaction of $1,485,000.00. Following the completion of the transaction, the chief financial officer now owns 11,490 shares of the company’s stock, valued at $9,479,250. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 6,914 shares of company stock worth $5,608,936 over the last quarter. Company 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.