Lake Street Private Wealth LLC Sells 19 Shares of ServiceNow, Inc. (NYSE:NOW)

Lake Street Private Wealth LLC decreased its holdings in ServiceNow, Inc. (NYSE:NOW) by 8.2% during the 4th quarter, HoldingsChannel.com reports. The firm owned 214 shares of the information technology services provider’s stock after selling 19 shares during the period. Lake Street Private Wealth LLC’s holdings in ServiceNow were worth $227,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Truvestments Capital LLC bought a new stake in shares of ServiceNow in the 3rd quarter valued at about $30,000. DT Investment Partners LLC boosted its holdings in ServiceNow by 77.3% in the third quarter. DT Investment Partners LLC now owns 39 shares of the information technology services provider’s stock valued at $35,000 after acquiring an additional 17 shares during the last quarter. Semmax Financial Advisors Inc. acquired a new stake in ServiceNow during the 2nd quarter valued at approximately $39,000. Oakworth Capital Inc. raised its holdings in ServiceNow by 46.7% during the 3rd quarter. Oakworth Capital Inc. now owns 44 shares of the information technology services provider’s stock worth $39,000 after purchasing an additional 14 shares during the last quarter. Finally, Dunhill Financial LLC lifted its position in shares of ServiceNow by 70.0% in the 3rd quarter. Dunhill Financial LLC now owns 51 shares of the information technology services provider’s stock worth $46,000 after purchasing an additional 21 shares during the period. 87.18% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently weighed in on NOW. Oppenheimer increased 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 report on Tuesday, December 3rd. Morgan Stanley downgraded ServiceNow from an “overweight” rating to an “equal weight” rating and boosted their price objective for the company from $900.00 to $960.00 in a research note on Monday, October 21st. Piper Sandler raised their target price on ServiceNow from $1,000.00 to $1,200.00 and gave the stock an “overweight” rating in a research note on Monday, January 6th. Evercore ISI boosted their price target on ServiceNow from $950.00 to $1,000.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Finally, Royal Bank of Canada raised their price objective on shares of ServiceNow from $1,045.00 to $1,210.00 and gave the stock an “outperform” rating in a research report on Friday, January 3rd. One research analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-five have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, ServiceNow has a consensus rating of “Moderate Buy” and an average target price of $1,080.38.

ServiceNow Stock Performance

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

ServiceNow (NYSE:NOW) last announced its quarterly earnings data on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.46 by $0.26. The firm had revenue of $2.80 billion during the quarter, compared to the consensus estimate of $2.75 billion. ServiceNow had a return on equity of 16.03% and a net margin of 12.77%. The business’s revenue for the quarter was up 22.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.21 EPS. As a group, 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 76 shares of the company’s 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 filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Nicholas Tzitzon sold 313 shares of ServiceNow stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $1,064.60, for a total value of $333,219.80. Following the completion of the sale, the insider now directly owns 3,649 shares of the company’s stock, valued at approximately $3,884,725.40. This trade represents a 7.90 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 20,731 shares of company stock worth $21,016,751 over the last three months. 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.