Doliver Advisors LP Decreases Stock Holdings in ServiceNow, Inc. $NOW

Key Points

• Doliver Advisors LP reduced its stake in ServiceNow by 19.4% in the second quarter, now holding shares worth approximately $2.33 million, which accounts for 0.6% of its total investments.
• ServiceNow reported a 22.4% increase in revenue year-over-year, totaling $3.22 billion, along with earnings per share of $4.09, exceeding analyst expectations.
• Goldman Sachs significantly increased its stake in ServiceNow by 131.4% during the first quarter, now holding over $1.17 billion in shares.

Doliver Advisors LP lowered its stake in ServiceNow, Inc. (NYSE:NOW - Free Report) by 19.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,262 shares of the information technology services provider's stock after selling 543 shares during the period. ServiceNow accounts for approximately 0.6% of Doliver Advisors LP's holdings, making the stock its 25th biggest holding. Doliver Advisors LP's holdings in ServiceNow were worth $2,326,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in NOW. Bogart Wealth LLC boosted its holdings in ServiceNow by 113.3% in the first quarter. Bogart Wealth LLC now owns 32 shares of the information technology services provider's stock valued at $25,000 after acquiring an additional 17 shares in the last quarter. Graybill Wealth Management LTD. bought a new stake in ServiceNow in the first quarter valued at $26,000. WASHINGTON TRUST Co boosted its holdings in ServiceNow by 620.0% in the first quarter. WASHINGTON TRUST Co now owns 36 shares of the information technology services provider's stock valued at $29,000 after acquiring an additional 31 shares in the last quarter. Dagco Inc. bought a new stake in ServiceNow in the first quarter valued at $33,000. Finally, Heck Capital Advisors LLC bought a new stake in ServiceNow in the fourth quarter valued at $37,000. Institutional investors own 87.18% of the company's stock.

Insider Transactions at ServiceNow

In other ServiceNow news, insider Jacqueline P. Canney sold 1,562 shares of the business's stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $866.45, for a total value of $1,353,394.90. Following the completion of the transaction, the insider owned 3,027 shares of the company's stock, valued at approximately $2,622,744.15. The trade was a 34.04% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Vice Chairman Nicholas Tzitzon sold 1,719 shares of the business's stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $866.45, for a total value of $1,489,427.55. Following the completion of the transaction, the insider directly owned 3,000 shares of the company's stock, valued at approximately $2,599,350. This trade represents a 36.43% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 18,976 shares of company stock worth $17,049,775 over the last quarter. Corporate insiders own 0.38% of the company's stock.

ServiceNow Stock Down 0.9%

Shares of NOW traded down $8.24 during trading hours on Friday, hitting $930.04. The company had a trading volume of 711,066 shares, compared to its average volume of 1,527,927. The firm has a fifty day moving average price of $927.34 and a 200-day moving average price of $922.34. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.09 and a current ratio of 1.09. The stock has a market capitalization of $193.45 billion, a price-to-earnings ratio of 117.13, a P/E/G ratio of 4.18 and a beta of 0.91. ServiceNow, Inc. has a 52-week low of $678.66 and a 52-week high of $1,198.09.

ServiceNow (NYSE:NOW - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The information technology services provider reported $4.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.57 by $0.52. The firm had revenue of $3.22 billion during the quarter, compared to analyst estimates of $3.12 billion. ServiceNow had a return on equity of 18.04% and a net margin of 13.78%.ServiceNow's quarterly revenue was up 22.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.13 EPS. On average, equities research analysts forecast that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have commented on NOW. Cantor Fitzgerald reissued an "overweight" rating and set a $1,200.00 price objective on shares of ServiceNow in a research report on Thursday, July 24th. UBS Group lowered their price objective on ServiceNow from $1,125.00 to $1,100.00 and set a "buy" rating for the company in a research report on Thursday, July 24th. Morgan Stanley reissued an "equal weight" rating on shares of ServiceNow in a research report on Tuesday, July 8th. DA Davidson raised their price objective on ServiceNow from $1,150.00 to $1,250.00 and gave the company a "buy" rating in a research report on Thursday, July 24th. Finally, Wall Street Zen lowered ServiceNow from a "buy" rating to a "hold" rating in a research report on Saturday, August 30th. One investment analyst has rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, ServiceNow has a consensus rating of "Moderate Buy" and a consensus target price of $1,115.20.

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.