Beacon Pointe Advisors LLC Sells 90 Shares of ServiceNow, Inc. (NYSE:NOW)

Beacon Pointe Advisors LLC decreased its position in shares of ServiceNow, Inc. (NYSE:NOW) by 1.4% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 6,263 shares of the information technology services provider’s stock after selling 90 shares during the period. Beacon Pointe Advisors LLC’s holdings in ServiceNow were worth $4,423,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. AdvisorNet Financial Inc raised its holdings in ServiceNow by 266.7% in the fourth quarter. AdvisorNet Financial Inc now owns 44 shares of the information technology services provider’s stock worth $31,000 after purchasing an additional 32 shares in the last quarter. Disciplined Equity Management Inc. bought a new position in shares of ServiceNow in the 4th quarter worth about $35,000. OFI Invest Asset Management purchased a new position in ServiceNow during the 3rd quarter valued at about $41,000. Fortitude Family Office LLC purchased a new stake in ServiceNow in the fourth quarter worth about $41,000. Finally, Oliver Lagore Vanvalin Investment Group increased its stake in shares of ServiceNow by 30.4% during the fourth quarter. Oliver Lagore Vanvalin Investment Group now owns 60 shares of the information technology services provider’s stock valued at $42,000 after purchasing an additional 14 shares in the last quarter. Institutional investors own 87.18% of the company’s stock.

Insider Transactions at ServiceNow

In related news, CEO William R. Mcdermott sold 5,030 shares of the firm’s stock in a transaction 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 completion of the transaction, the chief executive officer now directly owns 17,177 shares of the company’s stock, valued at $12,935,655.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other ServiceNow news, CEO William R. Mcdermott sold 5,030 shares of the firm’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $753.08, for a total transaction of $3,787,992.40. Following the completion of the transaction, the chief executive officer now owns 17,177 shares in the company, valued at approximately $12,935,655.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Paul John Smith sold 5,159 shares of ServiceNow stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $745.32, for a total value of $3,845,105.88. Following the completion of the sale, the insider now directly owns 5,453 shares in the company, valued at approximately $4,064,229.96. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 10,504 shares of company stock valued at $7,860,589. 0.25% of the stock is currently owned by corporate insiders.

ServiceNow Price Performance

NYSE:NOW opened at $764.73 on Friday. The business’s 50-day simple moving average is $747.66 and its two-hundred day simple moving average is $725.70. ServiceNow, Inc. has a 52 week low of $494.13 and a 52 week high of $815.32. The stock has a market cap of $156.77 billion, a PE ratio of 81.79, a P/E/G ratio of 4.76 and a beta of 0.98. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.18.

ServiceNow (NYSE:NOW) last posted its quarterly earnings results on Wednesday, April 24th. The information technology services provider reported $1.82 EPS for the quarter, topping analysts’ consensus estimates of $1.41 by $0.41. ServiceNow had a return on equity of 13.59% and a net margin of 20.34%. The company had revenue of $2.60 billion for the quarter, compared to analysts’ expectations of $2.59 billion. As a group, analysts forecast that ServiceNow, Inc. will post 6.49 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

NOW has been the topic of several recent research reports. Mizuho upped their price target on ServiceNow from $750.00 to $820.00 and gave the stock a “buy” rating in a research note on Thursday, January 25th. Piper Sandler lifted their price target on ServiceNow from $750.00 to $830.00 and gave the stock an “overweight” rating in a research report on Thursday, January 25th. Citigroup upped their price target on shares of ServiceNow from $896.00 to $906.00 and gave the stock a “buy” rating in a research note on Thursday, April 18th. Robert W. Baird lifted their target price on shares of ServiceNow from $870.00 to $885.00 and gave the stock an “outperform” rating in a report on Tuesday, May 7th. Finally, Jefferies Financial Group upped their target price on shares of ServiceNow from $885.00 to $900.00 and gave the stock a “buy” rating in a research note on Wednesday, April 10th. Three analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the stock. Based on data from MarketBeat.com, ServiceNow currently has an average rating of “Moderate Buy” and a consensus price target of $808.73.

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.