ServiceNow, Inc. (NYSE:NOW) Shares Sold by Daiwa Securities Group Inc.

Daiwa Securities Group Inc. reduced its stake in ServiceNow, Inc. (NYSE:NOW) by 2.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 29,199 shares of the information technology services provider’s stock after selling 773 shares during the period. Daiwa Securities Group Inc.’s holdings in ServiceNow were worth $20,628,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. PFG Private Wealth Management LLC acquired a new position in ServiceNow during the 3rd quarter valued at about $28,000. First Capital Advisors Group LLC. bought a new position in ServiceNow in the 2nd quarter worth approximately $29,000. High Net Worth Advisory Group LLC acquired a new stake in ServiceNow in the 1st quarter valued at approximately $29,000. AdvisorNet Financial Inc raised its stake in ServiceNow by 266.7% during the 4th quarter. AdvisorNet Financial Inc now owns 44 shares of the information technology services provider’s stock valued at $31,000 after acquiring an additional 32 shares in the last quarter. Finally, Steward Financial Group LLC grew its stake in shares of ServiceNow by 125.0% in the third quarter. Steward Financial Group LLC now owns 63 shares of the information technology services provider’s stock worth $35,000 after purchasing an additional 35 shares in the last quarter. 87.18% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at ServiceNow

In other news, insider Paul John Smith sold 1,795 shares of the firm’s stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $781.06, for a total value of $1,402,002.70. Following the transaction, the insider now directly owns 994 shares in the company, valued at approximately $776,373.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO William R. Mcdermott sold 5,030 shares of ServiceNow stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $753.08, for a total transaction of $3,787,992.40. Following the transaction, the chief executive officer now directly owns 17,177 shares of the company’s stock, valued at $12,935,655.16. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Paul John Smith sold 1,795 shares of the company’s stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $781.06, for a total transaction of $1,402,002.70. Following the completion of the sale, the insider now owns 994 shares of the company’s stock, valued at approximately $776,373.64. The disclosure for this sale can be found here. In the last 90 days, insiders sold 13,164 shares of company stock worth $9,940,303. Insiders own 0.25% of the company’s stock.

Analyst Upgrades and Downgrades

NOW has been the subject of several research analyst reports. JMP Securities upped their price objective on shares of ServiceNow from $665.00 to $825.00 and gave the stock a “market outperform” rating in a report on Monday, January 22nd. Royal Bank of Canada raised their price objective on shares of ServiceNow from $840.00 to $850.00 and gave the company an “outperform” rating in a research note on Thursday, January 25th. Jefferies Financial Group upped their target price on ServiceNow from $885.00 to $900.00 and gave the stock a “buy” rating in a research report on Wednesday, April 10th. Robert W. Baird lifted their price target on ServiceNow from $780.00 to $870.00 and gave the company an “outperform” rating in a research report on Thursday, January 25th. Finally, Citigroup raised their target price on ServiceNow from $862.00 to $896.00 and gave the company a “buy” rating in a research note on Friday, January 26th. Three equities research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $780.00.

ServiceNow Trading Down 0.6 %

ServiceNow stock opened at $732.00 on Thursday. The stock has a market cap of $150.34 billion, a price-to-earnings ratio of 87.48, a price-to-earnings-growth ratio of 4.71 and a beta of 0.97. ServiceNow, Inc. has a 12 month low of $427.68 and a 12 month high of $815.32. 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 business has a 50 day moving average price of $767.53 and a two-hundred day moving average price of $700.42.

ServiceNow (NYSE:NOW) last announced its quarterly earnings data on Wednesday, January 24th. The information technology services provider reported $3.11 earnings per share for the quarter, topping the consensus estimate of $2.77 by $0.34. ServiceNow had a return on equity of 11.85% and a net margin of 19.30%. The firm had revenue of $2.44 billion during the quarter, compared to analysts’ expectations of $2.40 billion. During the same period in the previous year, the business posted $0.88 EPS. The company’s quarterly revenue was up 25.6% compared to the same quarter last year. As a group, equities analysts forecast that ServiceNow, Inc. will post 6.16 EPS for the current year.

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.