SG Americas Securities LLC Sells 34,930 Shares of ServiceNow, Inc. (NYSE:NOW)

SG Americas Securities LLC lowered its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 61.0% during the fourth quarter, Holdings Channel reports. The fund owned 22,320 shares of the information technology services provider’s stock after selling 34,930 shares during the period. SG Americas Securities LLC’s holdings in ServiceNow were worth $23,662,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Marino Stram & Associates LLC boosted its stake in shares of ServiceNow by 14.1% in the 4th quarter. Marino Stram & Associates LLC now owns 316 shares of the information technology services provider’s stock valued at $335,000 after purchasing an additional 39 shares during the last quarter. Magnus Financial Group LLC boosted its stake in shares of ServiceNow by 6.0% in the 4th quarter. Magnus Financial Group LLC now owns 513 shares of the information technology services provider’s stock valued at $544,000 after purchasing an additional 29 shares during the last quarter. Advisory Alpha LLC boosted its stake in shares of ServiceNow by 7.3% in the 4th quarter. Advisory Alpha LLC now owns 250 shares of the information technology services provider’s stock valued at $265,000 after purchasing an additional 17 shares during the last quarter. West Branch Capital LLC boosted its stake in shares of ServiceNow by 286.1% in the 4th quarter. West Branch Capital LLC now owns 417 shares of the information technology services provider’s stock valued at $442,000 after purchasing an additional 309 shares during the last quarter. Finally, Braun Bostich & Associates Inc. bought a new position in ServiceNow during the 4th quarter worth approximately $216,000. Institutional investors own 87.18% of the company’s stock.

ServiceNow Trading Up 2.6 %

NOW stock opened at $1,125.39 on Thursday. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.13 and a quick ratio of 1.13. The company has a fifty day moving average price of $1,071.36 and a two-hundred day moving average price of $937.32. ServiceNow, Inc. has a one year low of $637.99 and a one year high of $1,157.90. The stock has a market cap of $231.83 billion, a price-to-earnings ratio of 175.02, a price-to-earnings-growth ratio of 4.98 and a beta of 0.99.

ServiceNow (NYSE:NOW) last released its quarterly earnings data on Wednesday, October 23rd. The information technology services provider reported $3.72 EPS for the quarter, topping analysts’ consensus estimates of $3.46 by $0.26. ServiceNow had a net margin of 12.77% and a return on equity of 16.03%. The firm had revenue of $2.80 billion during the quarter, compared to analysts’ expectations of $2.75 billion. During the same period in the previous year, the business posted $1.21 earnings per share. The company’s revenue for the quarter was up 22.2% compared to the same quarter last year. Equities analysts anticipate that ServiceNow, Inc. will post 7.04 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on NOW shares. Cantor Fitzgerald started coverage on shares of ServiceNow in a research note on Friday, January 17th. They set an “overweight” rating and a $1,332.00 price objective on the stock. Citigroup lifted their price objective on shares of ServiceNow from $1,068.00 to $1,071.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. Robert W. Baird lifted their price objective on shares of ServiceNow from $900.00 to $975.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. JPMorgan Chase & Co. lifted their price objective on shares of ServiceNow from $820.00 to $950.00 and gave the stock an “overweight” rating in a research note on Thursday, October 24th. Finally, Oppenheimer lifted their price objective on shares of ServiceNow from $1,020.00 to $1,150.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 3rd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-five have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $1,093.34.

Insider Activity

In other news, insider Jacqueline P. Canney sold 76 shares of the business’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $1,010.94, for a total value of $76,831.44. Following the completion of the sale, the insider now owns 3,027 shares of the company’s stock, valued at approximately $3,060,115.38. The trade was a 2.45 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO William R. Mcdermott sold 12,271 shares of the business’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $997.67, for a total transaction of $12,242,408.57. Following the completion of the sale, the chief executive officer now directly owns 2,595 shares of the company’s stock, valued at approximately $2,588,953.65. The trade was a 82.54 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 20,731 shares of company stock valued at $21,016,751. 0.25% of the stock is owned by company insiders.

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.