Lmcg Investments LLC Sells 220 Shares of ServiceNow, Inc. (NYSE:NOW)

by · The Markets Daily

Lmcg Investments LLC lessened its position in shares of ServiceNow, Inc. (NYSE:NOW – Free Report) by 1.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 16,337 shares of the information technology services provider’s stock after selling 220 shares during the period. ServiceNow makes up about 0.9% of Lmcg Investments LLC’s holdings, making the stock its 27th biggest position. Lmcg Investments LLC’s holdings in ServiceNow were worth $14,612,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. International Assets Investment Management LLC increased its holdings in shares of ServiceNow by 89,137.0% in the 3rd quarter. International Assets Investment Management LLC now owns 1,185,067 shares of the information technology services provider’s stock worth $1,059,912,000 after buying an additional 1,183,739 shares during the last quarter. Swedbank AB bought a new position in shares of ServiceNow in the 1st quarter worth $897,908,000. Vanguard Group Inc. increased its holdings in shares of ServiceNow by 1.8% in the 1st quarter. Vanguard Group Inc. now owns 18,450,570 shares of the information technology services provider’s stock worth $14,066,715,000 after buying an additional 331,797 shares during the last quarter. AustralianSuper Pty Ltd bought a new position in shares of ServiceNow in the 2nd quarter worth $218,786,000. Finally, Acadian Asset Management LLC increased its holdings in shares of ServiceNow by 233.4% in the 1st quarter. Acadian Asset Management LLC now owns 387,225 shares of the information technology services provider’s stock worth $295,198,000 after buying an additional 271,073 shares during the last quarter. Institutional investors own 87.18% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Mizuho increased their target price on shares of ServiceNow from $850.00 to $980.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. Sanford C. Bernstein increased their target price on shares of ServiceNow from $906.00 to $913.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. UBS Group increased their target price on shares of ServiceNow from $900.00 to $1,055.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. Oppenheimer increased their price target on shares of ServiceNow from $825.00 to $1,020.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. Finally, Truist Financial raised their target price on shares of ServiceNow from $780.00 to $900.00 and gave the stock a “hold” rating in a research report on Wednesday, October 23rd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-five have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $970.33.

Get Our Latest Analysis on ServiceNow

ServiceNow Price Performance

NYSE:NOW traded up $10.42 during trading hours on Friday, hitting $943.41. The company’s stock had a trading volume of 985,688 shares, compared to its average volume of 1,285,213. The business’s 50-day moving average is $896.89 and its two-hundred day moving average is $803.60. The company has a market capitalization of $194.34 billion, a PE ratio of 146.72, a PEG ratio of 5.45 and a beta of 0.99. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.13 and a current ratio of 1.13. ServiceNow, Inc. has a 52-week low of $592.48 and a 52-week high of $979.78.

ServiceNow (NYSE:NOW – Get Free Report) last posted its quarterly earnings data 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 return on equity of 16.03% and a net margin of 12.77%. The business had revenue of $2.80 billion for the quarter, compared to analyst estimates of $2.75 billion. During the same quarter last year, the company earned $1.21 earnings per share. The business’s revenue for the quarter was up 22.2% compared to the same quarter last year. As a group, research analysts anticipate that ServiceNow, Inc. will post 7.07 EPS for the current fiscal year.

Insider Transactions at ServiceNow

In related news, insider Jacqueline P. Canney sold 804 shares of the firm’s stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $812.00, for a total transaction of $652,848.00. Following the sale, the insider now directly owns 3,027 shares in the company, valued at approximately $2,457,924. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, insider Jacqueline P. Canney sold 804 shares of ServiceNow stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $812.00, for a total value of $652,848.00. Following the completion of the transaction, the insider now owns 3,027 shares in the company, valued at approximately $2,457,924. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jacqueline P. Canney sold 353 shares of the business’s stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $924.96, for a total value of $326,510.88. Following the transaction, the insider now owns 3,027 shares of the company’s stock, valued at $2,799,853.92. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 3,530 shares of company stock worth $2,939,955 in the last three months. 0.25% of the stock is currently owned by company insiders.

ServiceNow 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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