D.B. Root & Company LLC Sells 297 Shares of ServiceNow, Inc. (NYSE:NOW)

D.B. Root & Company LLC decreased its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 31.4% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 649 shares of the information technology services provider’s stock after selling 297 shares during the quarter. D.B. Root & Company LLC’s holdings in ServiceNow were worth $495,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Red Door Wealth Management LLC boosted its holdings in shares of ServiceNow by 4.9% during the 1st quarter. Red Door Wealth Management LLC now owns 6,410 shares of the information technology services provider’s stock worth $4,887,000 after buying an additional 297 shares during the period. Cornerstone Wealth Group LLC boosted its holdings in shares of ServiceNow by 5.1% during the first quarter. Cornerstone Wealth Group LLC now owns 4,625 shares of the information technology services provider’s stock worth $3,526,000 after acquiring an additional 224 shares during the period. Physician Wealth Advisors Inc. boosted its holdings in shares of ServiceNow by 2.5% during the first quarter. Physician Wealth Advisors Inc. now owns 1,123 shares of the information technology services provider’s stock worth $836,000 after acquiring an additional 27 shares during the period. New Mexico Educational Retirement Board increased its stake in shares of ServiceNow by 9.4% during the first quarter. New Mexico Educational Retirement Board now owns 11,650 shares of the information technology services provider’s stock worth $8,882,000 after purchasing an additional 1,000 shares during the period. Finally, Fox Hill Wealth Management bought a new position in shares of ServiceNow during the first quarter worth approximately $505,000. 87.18% of the stock is owned by institutional investors.

Insider Transactions at ServiceNow

In related news, insider Paul John Smith sold 190 shares of the stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $718.78, for a total value of $136,568.20. Following the completion of the sale, the insider now directly owns 3,010 shares in the company, valued at $2,163,527.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other ServiceNow news, insider Paul John Smith sold 190 shares of the stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $718.78, for a total transaction of $136,568.20. Following the completion of the sale, the insider now owns 3,010 shares of the company’s stock, valued at approximately $2,163,527.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Christopher Bedi sold 215 shares of the business’s stock in a transaction that occurred on Wednesday, June 5th. The stock was sold at an average price of $700.00, for a total transaction of $150,500.00. Following the completion of the transaction, the insider now owns 15,892 shares in the company, valued at approximately $11,124,400. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 5,530 shares of company stock worth $3,997,012. Company insiders own 0.25% of the company’s stock.

ServiceNow Price Performance

ServiceNow stock opened at $786.67 on Monday. The company has a market capitalization of $161.27 billion, a PE ratio of 84.14, a P/E/G ratio of 4.93 and a beta of 0.99. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.18. The stock has a 50-day moving average price of $726.55 and a two-hundred day moving average price of $741.24. ServiceNow, Inc. has a 12 month low of $527.24 and a 12 month high of $815.32.

ServiceNow (NYSE:NOW) last posted its earnings results on Wednesday, April 24th. The information technology services provider reported $1.82 EPS for the quarter, topping the consensus estimate of $1.41 by $0.41. ServiceNow had a net margin of 20.34% and a return on equity of 13.59%. The business had revenue of $2.60 billion for the quarter, compared to the consensus estimate of $2.59 billion. Analysts expect that ServiceNow, Inc. will post 6.5 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on NOW. KeyCorp decreased their price objective on ServiceNow from $1,000.00 to $950.00 and set an “overweight” rating on the stock in a report on Thursday, April 25th. Jefferies Financial Group raised their price target on shares of ServiceNow from $885.00 to $900.00 and gave the stock a “buy” rating in a research report on Wednesday, April 10th. Citigroup boosted their price objective on shares of ServiceNow from $896.00 to $906.00 and gave the company a “buy” rating in a report on Thursday, April 18th. William Blair restated an “outperform” rating on shares of ServiceNow in a research report on Tuesday, May 7th. Finally, Guggenheim reiterated a “neutral” rating on shares of ServiceNow in a research note on Monday, April 15th. Three equities research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company. According to MarketBeat.com, ServiceNow has an average rating of “Moderate Buy” and an average target price of $814.48.

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.