Carolinas Wealth Consulting LLC Sells 26 Shares of ServiceNow, Inc. (NYSE:NOW)

Carolinas Wealth Consulting LLC cut its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 14.8% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 150 shares of the information technology services provider’s stock after selling 26 shares during the period. Carolinas Wealth Consulting LLC’s holdings in ServiceNow were worth $118,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Creekmur Asset Management LLC bought a new position in ServiceNow in the 1st quarter worth $25,000. Versant Capital Management Inc raised its stake in ServiceNow by 466.7% in the second quarter. Versant Capital Management Inc now owns 34 shares of the information technology services provider’s stock worth $27,000 after buying an additional 28 shares in the last quarter. EntryPoint Capital LLC lifted its holdings in ServiceNow by 3,900.0% in the first quarter. EntryPoint Capital LLC now owns 40 shares of the information technology services provider’s stock worth $30,000 after buying an additional 39 shares during the period. University of Texas Texas AM Investment Managment Co. bought a new stake in ServiceNow during the 4th quarter valued at approximately $29,000. Finally, Ridgewood Investments LLC purchased a new position in shares of ServiceNow during the 2nd quarter worth approximately $32,000. Institutional investors own 87.18% of the company’s stock.

Insider Activity

In related news, CFO Gina Mastantuono sold 1,800 shares of the stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $825.00, for a total transaction of $1,485,000.00. Following the completion of the sale, the chief financial officer now owns 11,490 shares in the company, valued at $9,479,250. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CFO Gina Mastantuono sold 1,800 shares of the business’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $825.00, for a total value of $1,485,000.00. Following the transaction, the chief financial officer now directly owns 11,490 shares of the company’s stock, valued at approximately $9,479,250. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, General Counsel Russell S. Elmer sold 1,937 shares of the stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $779.81, for a total transaction of $1,510,491.97. Following the sale, the general counsel now directly owns 6,736 shares of the company’s stock, valued at $5,252,800.16. The disclosure for this sale can be found here. Insiders have sold 6,914 shares of company stock worth $5,608,936 over the last ninety days. Corporate insiders own 0.25% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on NOW. Piper Sandler lifted their price target on ServiceNow from $830.00 to $850.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. Guggenheim reaffirmed a “sell” rating and issued a $640.00 target price on shares of ServiceNow in a research report on Monday, July 8th. Truist Financial lifted their price target on shares of ServiceNow from $750.00 to $780.00 and gave the company a “hold” rating in a research report on Thursday, July 25th. BMO Capital Markets increased their target price on ServiceNow from $830.00 to $860.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Finally, Royal Bank of Canada lifted their price target on ServiceNow from $850.00 to $880.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $855.44.

ServiceNow Price Performance

Shares of NYSE:NOW opened at $891.59 on Thursday. The company has a market capitalization of $182.78 billion, a P/E ratio of 95.36, a P/E/G ratio of 5.25 and a beta of 0.98. ServiceNow, Inc. has a 1-year low of $527.24 and a 1-year high of $899.71. The firm’s 50 day simple moving average is $815.58 and its two-hundred day simple moving average is $769.06. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.12 and a quick ratio of 1.12.

ServiceNow (NYSE:NOW) last announced its quarterly earnings data on Wednesday, July 24th. The information technology services provider reported $3.13 EPS for the quarter, beating the consensus estimate of $2.85 by $0.28. The firm had revenue of $2.63 billion for the quarter, compared to the consensus estimate of $2.61 billion. ServiceNow had a net margin of 11.51% and a return on equity of 14.52%. The company’s revenue was up 22.2% on a year-over-year basis. During the same period last year, the firm earned $0.77 EPS. Research analysts expect that ServiceNow, Inc. will post 6.78 EPS for the current fiscal year.

About ServiceNow

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.