Beck Capital Management LLC Sells 480 Shares of ServiceNow, Inc. (NYSE:NOW)

Beck Capital Management LLC lowered its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 10.5% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 4,088 shares of the information technology services provider’s stock after selling 480 shares during the period. Beck Capital Management LLC’s holdings in ServiceNow were worth $3,656,000 as of its most recent filing with the SEC.

Other large investors also recently added to or reduced their stakes in the company. Avidian Wealth Enterprises LLC increased its holdings in shares of ServiceNow by 39.4% in the third quarter. Avidian Wealth Enterprises LLC now owns 488 shares of the information technology services provider’s stock worth $436,000 after buying an additional 138 shares during the period. Venturi Wealth Management LLC increased its stake in ServiceNow by 36.4% in the 3rd quarter. Venturi Wealth Management LLC now owns 2,868 shares of the information technology services provider’s stock worth $2,565,000 after purchasing an additional 765 shares during the period. AXA S.A. lifted its position in ServiceNow by 1.1% in the second quarter. AXA S.A. now owns 387,344 shares of the information technology services provider’s stock valued at $304,712,000 after purchasing an additional 4,271 shares during the last quarter. HWG Holdings LP purchased a new stake in shares of ServiceNow during the second quarter valued at approximately $2,679,000. Finally, Brookstone Capital Management grew its holdings in shares of ServiceNow by 25.5% in the second quarter. Brookstone Capital Management now owns 14,394 shares of the information technology services provider’s stock worth $10,595,000 after purchasing an additional 2,928 shares during the last quarter. Hedge funds and other institutional investors own 87.18% of the company’s stock.

ServiceNow Trading Up 0.8 %

Shares of NYSE:NOW opened at $1,049.44 on Monday. 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, Inc. has a 1 year low of $637.99 and a 1 year high of $1,072.84. The company has a market cap of $216.18 billion, a P/E ratio of 163.21, a PEG ratio of 6.02 and a beta of 0.98. The stock’s fifty day moving average price is $963.10 and its 200-day moving average price is $847.50.

ServiceNow (NYSE:NOW) last posted its earnings results on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.46 by $0.26. The business had revenue of $2.80 billion for the quarter, compared to analysts’ expectations of $2.75 billion. ServiceNow had a net margin of 12.77% and a return on equity of 16.03%. The business’s revenue for the quarter was up 22.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.21 EPS. Sell-side analysts expect that ServiceNow, Inc. will post 7.07 earnings per share for the current year.

Insider Buying and Selling at ServiceNow

In other news, insider Jacqueline P. Canney sold 353 shares of the company’s stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $924.96, for a total value of $326,510.88. Following the completion of the sale, the insider now directly owns 3,027 shares in the company, valued at $2,799,853.92. This represents a 10.44 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Kevin Thomas Mcbride sold 100 shares of the firm’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $1,023.97, for a total value of $102,397.00. Following the completion of the transaction, the insider now directly owns 3,457 shares in the company, valued at $3,539,864.29. This trade represents a 2.81 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 20,329 shares of company stock worth $20,547,241. Insiders own 0.25% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on NOW. KeyCorp increased their price target on shares of ServiceNow from $1,020.00 to $1,040.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th. Morgan Stanley downgraded shares of ServiceNow from an “overweight” rating to an “equal weight” rating and upped their price objective for the company from $900.00 to $960.00 in a research note on Monday, October 21st. StockNews.com upgraded shares of ServiceNow from a “hold” rating to a “buy” rating in a report on Tuesday, November 12th. Canaccord Genuity Group lifted their target price on shares of ServiceNow from $850.00 to $1,000.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. Finally, Evercore ISI raised their price objective on shares of ServiceNow from $950.00 to $1,000.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. One 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 given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $989.07.

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.