Burney Co. Sells 1,538 Shares of ServiceNow, Inc. (NYSE:NOW)

by · The Markets Daily

Burney Co. lowered its position in shares of ServiceNow, Inc. (NYSE:NOW – Free Report) by 14.5% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 9,038 shares of the information technology services provider’s stock after selling 1,538 shares during the quarter. Burney Co.’s holdings in ServiceNow were worth $9,581,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of NOW. Truvestments Capital LLC bought a new stake in shares of ServiceNow in the third quarter valued at approximately $30,000. DT Investment Partners LLC raised its stake in ServiceNow by 77.3% in the third quarter. DT Investment Partners LLC now owns 39 shares of the information technology services provider’s stock valued at $35,000 after purchasing an additional 17 shares in the last quarter. Semmax Financial Advisors Inc. bought a new stake in ServiceNow during the second quarter worth about $39,000. Oakworth Capital Inc. grew its stake in ServiceNow by 46.7% during the third quarter. Oakworth Capital Inc. now owns 44 shares of the information technology services provider’s stock worth $39,000 after buying an additional 14 shares in the last quarter. Finally, Dunhill Financial LLC increased its holdings in ServiceNow by 70.0% in the 3rd quarter. Dunhill Financial LLC now owns 51 shares of the information technology services provider’s stock valued at $46,000 after buying an additional 21 shares during the period. 87.18% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at ServiceNow

In other ServiceNow news, Director Jeffrey A. Miller sold 2,879 shares of the stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $1,019.12, for a total value of $2,934,046.48. Following the transaction, the director now owns 42,920 shares in the company, valued at approximately $43,740,630.40. This represents a 6.29 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jacqueline P. Canney sold 76 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $1,010.94, for a total value of $76,831.44. Following the completion of the sale, the insider now directly owns 3,027 shares of the company’s stock, valued at $3,060,115.38. This trade represents a 2.45 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 20,276 shares of company stock worth $20,535,115 in the last 90 days. Corporate insiders own 0.25% of the company’s stock.

ServiceNow Trading Up 0.9 %

NYSE:NOW opened at $1,040.98 on Wednesday. ServiceNow, Inc. has a 52 week low of $637.99 and a 52 week high of $1,157.90. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.13 and a current ratio of 1.13. The firm’s fifty day moving average is $1,066.34 and its 200-day moving average is $927.52. The firm has a market cap of $214.44 billion, a P/E ratio of 161.89, a P/E/G ratio of 6.43 and a beta of 0.99.

ServiceNow (NYSE:NOW – Get Free Report) last issued its quarterly earnings results on Wednesday, October 23rd. The information technology services provider reported $3.72 EPS for the quarter, beating analysts’ consensus estimates of $3.46 by $0.26. ServiceNow had a net margin of 12.77% and a return on equity of 16.03%. The business had revenue of $2.80 billion for the quarter, compared to analysts’ expectations of $2.75 billion. During the same quarter in the prior year, the firm posted $1.21 earnings per share. The business’s quarterly revenue was up 22.2% compared to the same quarter last year. Equities analysts expect that ServiceNow, Inc. will post 7.07 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages have recently weighed in on NOW. Scotiabank started coverage on shares of ServiceNow in a report on Tuesday, November 19th. They set a “sector outperform” rating and a $1,230.00 price target for the company. Morgan Stanley cut ServiceNow from an “overweight” rating to an “equal weight” rating and boosted their price target for the stock from $900.00 to $960.00 in a report on Monday, October 21st. UBS Group raised their price objective on ServiceNow from $900.00 to $1,055.00 and gave the company a “buy” rating in a research note on Tuesday, October 8th. Jefferies Financial Group lifted their target price on ServiceNow from $1,100.00 to $1,250.00 and gave the company a “buy” rating in a research report on Monday, December 2nd. Finally, Oppenheimer increased their target price on shares of ServiceNow from $1,020.00 to $1,150.00 and gave the stock an “outperform” rating in a report on Tuesday, December 3rd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-five have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $1,071.39.

View Our Latest Stock Report on NOW

About ServiceNow

(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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