Triangle Securities Wealth Management Decreases Holdings in ServiceNow, Inc. (NYSE:NOW)

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

Other hedge funds and other institutional investors have also made changes to their positions in the company. State Street Corp increased its stake in ServiceNow by 2.6% in the third quarter. State Street Corp now owns 9,077,547 shares of the information technology services provider’s stock valued at $8,118,867,000 after purchasing an additional 226,023 shares during the last quarter. FMR LLC boosted its holdings in shares of ServiceNow by 9.9% in the 3rd quarter. FMR LLC now owns 5,606,394 shares of the information technology services provider’s stock valued at $5,014,302,000 after buying an additional 502,845 shares in the last quarter. World Investment Advisors LLC grew its position in shares of ServiceNow by 499,668.1% in the 3rd quarter. World Investment Advisors LLC now owns 4,772,785 shares of the information technology services provider’s stock valued at $4,268,731,000 after buying an additional 4,771,830 shares during the last quarter. Geode Capital Management LLC raised its stake in ServiceNow by 1.9% during the 3rd quarter. Geode Capital Management LLC now owns 4,211,901 shares of the information technology services provider’s stock worth $3,753,828,000 after acquiring an additional 78,378 shares in the last quarter. Finally, Wellington Management Group LLP boosted its stake in ServiceNow by 24.1% in the third quarter. Wellington Management Group LLP now owns 3,169,531 shares of the information technology services provider’s stock valued at $2,834,797,000 after acquiring an additional 615,797 shares in the last quarter. Institutional investors and hedge funds own 87.18% of the company’s stock.

Insider Buying and Selling at ServiceNow

In other ServiceNow news, insider Jacqueline P. Canney sold 76 shares of the stock in a transaction on Friday, November 8th. The stock was sold at an average price of $1,010.94, for a total transaction of $76,831.44. Following the transaction, the insider now owns 3,027 shares of the company’s stock, valued at $3,060,115.38. This represents a 2.45 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Anita M. Sands sold 2,229 shares of ServiceNow stock in a transaction on Monday, November 25th. The shares were sold at an average price of $1,064.60, for a total value of $2,372,993.40. Following the completion of the sale, the director now directly owns 11,000 shares of the company’s stock, valued at approximately $11,710,600. This represents a 16.85 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 20,731 shares of company stock valued at $21,016,751 over the last quarter. Corporate insiders own 0.25% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. BMO Capital Markets lifted their target price on ServiceNow from $860.00 to $1,025.00 and gave the stock an “outperform” rating in a research report on Thursday, October 10th. Citigroup lifted their price target on ServiceNow from $1,068.00 to $1,071.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. TD Cowen increased their price objective on ServiceNow from $1,025.00 to $1,300.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. Truist Financial lifted their target price on shares of ServiceNow from $900.00 to $1,100.00 and gave the company a “hold” rating in a report on Thursday, December 12th. Finally, Cantor Fitzgerald began coverage on shares of ServiceNow in a research report on Friday. They set an “overweight” rating and a $1,332.00 price objective on the stock. One research analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-five have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $1,080.38.

ServiceNow Price Performance

NOW stock opened at $1,072.02 on Friday. The firm has a 50 day moving average of $1,069.67 and a 200-day moving average of $931.27. The company has a market cap of $220.84 billion, a price-to-earnings ratio of 166.72, a PEG ratio of 4.65 and a beta of 0.99. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.16. ServiceNow, Inc. has a 12-month low of $637.99 and a 12-month high of $1,157.90.

ServiceNow (NYSE:NOW) last posted its earnings results 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 return on equity of 16.03% and a net margin of 12.77%. The company had revenue of $2.80 billion for the quarter, compared to the consensus estimate of $2.75 billion. During the same period in the previous year, the business earned $1.21 earnings per share. ServiceNow’s quarterly revenue was up 22.2% compared to the same quarter last year. As a group, equities analysts expect that ServiceNow, Inc. will post 7.07 EPS for the current fiscal 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.