Triangle Securities Wealth Management Sells 28 Shares of ServiceNow, Inc. (NYSE:NOW)

Triangle Securities Wealth Management reduced its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 1.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,504 shares of the information technology services provider’s stock after selling 28 shares during the period. Triangle Securities Wealth Management’s holdings in ServiceNow were worth $1,594,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in NOW. Redhawk Wealth Advisors Inc. lifted its stake in ServiceNow by 2.2% in the fourth quarter. Redhawk Wealth Advisors Inc. now owns 459 shares of the information technology services provider’s stock worth $487,000 after acquiring an additional 10 shares during the period. Catalyst Financial Partners LLC increased its position in ServiceNow by 1.0% during the 3rd quarter. Catalyst Financial Partners LLC now owns 1,146 shares of the information technology services provider’s stock valued at $1,025,000 after purchasing an additional 11 shares during the period. First Affirmative Financial Network raised its holdings in shares of ServiceNow by 1.4% in the 3rd quarter. First Affirmative Financial Network now owns 895 shares of the information technology services provider’s stock valued at $801,000 after purchasing an additional 12 shares in the last quarter. Capital Advisors Ltd. LLC lifted its position in shares of ServiceNow by 14.6% in the 3rd quarter. Capital Advisors Ltd. LLC now owns 94 shares of the information technology services provider’s stock worth $84,000 after purchasing an additional 12 shares during the period. Finally, BluePointe Capital Management LLC boosted its stake in shares of ServiceNow by 0.6% during the third quarter. BluePointe Capital Management LLC now owns 2,014 shares of the information technology services provider’s stock valued at $1,801,000 after purchasing an additional 12 shares in the last quarter. 87.18% of the stock is currently owned by institutional investors.

ServiceNow Stock Performance

NOW opened at $1,072.02 on Friday. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.16. The firm’s 50-day moving average price is $1,069.67 and its 200 day moving average price is $931.27. ServiceNow, Inc. has a twelve month low of $637.99 and a twelve month high of $1,157.90. The firm has a market capitalization of $220.84 billion, a PE ratio of 166.72, a PEG ratio of 4.65 and a beta of 0.99.

ServiceNow (NYSE:NOW) last issued 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. ServiceNow had a return on equity of 16.03% and a net margin of 12.77%. The company had revenue of $2.80 billion during the quarter, compared to analysts’ expectations of $2.75 billion. During the same period in the prior year, the business earned $1.21 EPS. The firm’s quarterly revenue was up 22.2% on a year-over-year basis. As a group, sell-side analysts expect that ServiceNow, Inc. will post 7.07 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have weighed in on NOW shares. Oppenheimer upped their target price on ServiceNow from $1,020.00 to $1,150.00 and gave the stock an “outperform” rating in a report on Tuesday, December 3rd. Evercore ISI upped their price objective on ServiceNow from $950.00 to $1,000.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Citigroup raised their price objective on ServiceNow from $1,068.00 to $1,071.00 and gave the company a “buy” rating in a research report on Friday, October 25th. Truist Financial boosted their target price on shares of ServiceNow from $900.00 to $1,100.00 and gave the stock a “hold” rating in a report on Thursday, December 12th. Finally, Barclays raised their price target on shares of ServiceNow from $980.00 to $1,000.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-five have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, ServiceNow presently has an average rating of “Moderate Buy” and a consensus price target of $1,080.38.

Insider Buying and Selling

In other ServiceNow news, CEO William R. Mcdermott sold 12,271 shares of the stock in a transaction that occurred on 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 sale, the chief executive officer now directly owns 2,595 shares in the company, valued at $2,588,953.65. This represents a 82.54 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Jacqueline P. Canney sold 66 shares of the business’s stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $1,048.29, for a total value of $69,187.14. Following the transaction, the insider now directly owns 3,027 shares of the company’s stock, valued at $3,173,173.83. The trade was a 2.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 20,731 shares of company stock valued at $21,016,751. 0.25% of the stock is currently owned by insiders.

ServiceNow Company 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.