Daiwa Securities Group Inc. Reduces Stock Position in ServiceNow, Inc. (NYSE:NOW)

Daiwa Securities Group Inc. reduced its holdings in ServiceNow, Inc. (NYSE:NOWFree Report) by 2.6% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 29,199 shares of the information technology services provider’s stock after selling 773 shares during the quarter. Daiwa Securities Group Inc.’s holdings in ServiceNow were worth $20,628,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in NOW. PFG Private Wealth Management LLC bought a new position in shares of ServiceNow during the third quarter valued at approximately $28,000. First Capital Advisors Group LLC. purchased a new stake in shares of ServiceNow in the 2nd quarter worth approximately $29,000. High Net Worth Advisory Group LLC bought a new position in ServiceNow during the 1st quarter valued at approximately $29,000. AdvisorNet Financial Inc increased its position in ServiceNow by 266.7% during the 4th quarter. AdvisorNet Financial Inc now owns 44 shares of the information technology services provider’s stock valued at $31,000 after buying an additional 32 shares in the last quarter. Finally, Steward Financial Group LLC boosted its holdings in ServiceNow by 125.0% in the third quarter. Steward Financial Group LLC now owns 63 shares of the information technology services provider’s stock worth $35,000 after acquiring an additional 35 shares in the last quarter. Institutional investors own 87.18% of the company’s stock.

Insiders Place Their Bets

In other news, CEO William R. Mcdermott sold 5,030 shares of ServiceNow stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $753.08, for a total transaction of $3,787,992.40. Following the sale, the chief executive officer now owns 17,177 shares in the company, valued at $12,935,655.16. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, CEO William R. Mcdermott sold 5,030 shares of ServiceNow stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $753.08, for a total value of $3,787,992.40. Following the sale, the chief executive officer now directly owns 17,177 shares of the company’s stock, valued at $12,935,655.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Paul John Smith sold 1,180 shares of the stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $767.12, for a total value of $905,201.60. Following the transaction, the insider now directly owns 1,392 shares of the company’s stock, valued at $1,067,831.04. The disclosure for this sale can be found here. Insiders sold 13,164 shares of company stock worth $9,940,303 in the last three months. 0.25% of the stock is owned by company insiders.

ServiceNow Price Performance

Shares of NYSE:NOW opened at $732.00 on Thursday. The company has a market capitalization of $150.34 billion, a P/E ratio of 87.48, a P/E/G ratio of 4.71 and a beta of 0.97. ServiceNow, Inc. has a 1-year low of $427.68 and a 1-year high of $815.32. The firm’s 50 day simple moving average is $767.53 and its two-hundred day simple moving average is $700.42. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.06 and a quick ratio of 1.06.

ServiceNow (NYSE:NOWGet Free Report) last issued its earnings results on Wednesday, January 24th. The information technology services provider reported $3.11 earnings per share for the quarter, topping the consensus estimate of $2.77 by $0.34. The company had revenue of $2.44 billion during the quarter, compared to the consensus estimate of $2.40 billion. ServiceNow had a net margin of 19.30% and a return on equity of 11.85%. ServiceNow’s quarterly revenue was up 25.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.88 EPS. Research analysts expect that ServiceNow, Inc. will post 6.16 EPS for the current fiscal year.

Analysts Set New Price Targets

NOW has been the subject of several recent analyst reports. Oppenheimer lifted their price target on ServiceNow from $750.00 to $800.00 and gave the stock an “outperform” rating in a research report on Thursday, January 18th. Guggenheim reiterated a “neutral” rating on shares of ServiceNow in a report on Monday. Royal Bank of Canada boosted their price objective on shares of ServiceNow from $840.00 to $850.00 and gave the stock an “outperform” rating in a report on Thursday, January 25th. Barclays increased their target price on ServiceNow from $765.00 to $870.00 and gave the company an “overweight” rating in a research note on Tuesday, January 23rd. Finally, Truist Financial boosted their price target on ServiceNow from $700.00 to $750.00 and gave the stock a “hold” rating in a research note on Thursday, January 25th. Three investment analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company’s stock. According to MarketBeat.com, ServiceNow has an average rating of “Moderate Buy” and a consensus target price of $780.00.

Check Out Our Latest Analysis on ServiceNow

ServiceNow Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for ServiceNow (NYSE:NOW)

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