ServiceNow, Inc. (NYSE:NOW) Shares Sold by Xcel Wealth Management LLC

Xcel Wealth Management LLC lessened its holdings in shares of ServiceNow, Inc. (NYSE:NOWFree Report) by 4.4% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 4,575 shares of the information technology services provider’s stock after selling 210 shares during the period. ServiceNow accounts for approximately 1.1% of Xcel Wealth Management LLC’s investment portfolio, making the stock its 24th biggest holding. Xcel Wealth Management LLC’s holdings in ServiceNow were worth $3,232,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Sandbox Financial Partners LLC raised its position in shares of ServiceNow by 8.6% during the 4th quarter. Sandbox Financial Partners LLC now owns 835 shares of the information technology services provider’s stock worth $590,000 after acquiring an additional 66 shares in the last quarter. First Hawaiian Bank grew its stake in ServiceNow by 2.2% during the 3rd quarter. First Hawaiian Bank now owns 7,514 shares of the information technology services provider’s stock worth $4,200,000 after buying an additional 165 shares during the last quarter. Raymond James & Associates grew its stake in ServiceNow by 5.9% during the 4th quarter. Raymond James & Associates now owns 331,406 shares of the information technology services provider’s stock worth $234,135,000 after buying an additional 18,442 shares during the last quarter. Sequoia Financial Advisors LLC grew its stake in ServiceNow by 15.4% during the 4th quarter. Sequoia Financial Advisors LLC now owns 25,726 shares of the information technology services provider’s stock worth $18,175,000 after buying an additional 3,438 shares during the last quarter. Finally, Fifth Third Bancorp grew its stake in ServiceNow by 4.7% during the 4th quarter. Fifth Third Bancorp now owns 70,150 shares of the information technology services provider’s stock worth $49,560,000 after buying an additional 3,154 shares during the last quarter. Institutional investors and hedge funds own 87.18% of the company’s stock.

Insider Buying and Selling

In related news, CEO William R. Mcdermott sold 5,030 shares of ServiceNow stock in a transaction 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 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 SEC, which is accessible through the SEC website. In other news, insider Paul John Smith sold 1,795 shares of the business’s stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $781.06, for a total value of $1,402,002.70. Following the completion of the transaction, the insider now directly owns 994 shares of the company’s stock, valued at $776,373.64. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO William R. Mcdermott sold 5,030 shares of the business’s stock in a transaction on 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 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 disclosure for this sale can be found here. Over the last ninety days, insiders sold 13,164 shares of company stock valued at $9,940,303. 0.24% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on NOW. UBS Group raised their price target on ServiceNow from $865.00 to $885.00 and gave the stock a “buy” rating in a research note on Thursday, January 25th. Piper Sandler raised their price target on ServiceNow from $750.00 to $830.00 and gave the stock an “overweight” rating in a research note on Thursday, January 25th. Jefferies Financial Group raised their price target on ServiceNow from $885.00 to $900.00 and gave the stock a “buy” rating in a research note on Wednesday. Mizuho raised 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. Finally, Oppenheimer lifted their target price on ServiceNow from $750.00 to $800.00 and gave the company an “outperform” rating in a research note on Thursday, January 18th. Two analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $772.22.

Read Our Latest Stock Report on NOW

ServiceNow Price Performance

Shares of ServiceNow stock traded down $2.75 during trading on Friday, reaching $768.59. The company’s stock had a trading volume of 959,854 shares, compared to its average volume of 1,184,140. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.20. ServiceNow, Inc. has a 12-month low of $427.68 and a 12-month high of $815.32. The company has a market capitalization of $157.85 billion, a P/E ratio of 91.18, a price-to-earnings-growth ratio of 4.86 and a beta of 0.97. The business has a 50 day moving average price of $770.52 and a 200-day moving average price of $694.02.

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

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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