L & S Advisors Inc Has $1.74 Million Stake in ServiceNow, Inc. (NYSE:NOW)

Key Points

• L & S Advisors Inc reduced its holdings in ServiceNow, Inc. by 79.5%, owning 2,182 shares worth approximately $1.74 million after selling 8,459 shares in the first quarter.
• ServiceNow, Inc. reported $4.09 earnings per share (EPS) for the most recent quarter, exceeding the consensus estimate by $0.52 and achieving a 22.4% year-over-year revenue increase.
• ServiceNow's stock price dropped by 3.1%, with a current market capitalization of $190.12 billion and a price-to-earnings ratio of 115.12.

L & S Advisors Inc trimmed its holdings in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 79.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,182 shares of the information technology services provider's stock after selling 8,459 shares during the quarter. L & S Advisors Inc's holdings in ServiceNow were worth $1,737,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Bogart Wealth LLC raised 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 worth $25,000 after purchasing an additional 17 shares in the last quarter. Graybill Wealth Management LTD. acquired a new stake in shares of ServiceNow in the 1st quarter worth $26,000. Quarry LP purchased a new stake in shares of ServiceNow during the fourth quarter worth about $27,000. WASHINGTON TRUST Co raised its position in shares of ServiceNow by 620.0% in the 1st quarter. WASHINGTON TRUST Co now owns 36 shares of the information technology services provider's stock valued at $29,000 after purchasing an additional 31 shares during the last quarter. Finally, Heck Capital Advisors LLC acquired a new position in ServiceNow during the 4th quarter valued at approximately $37,000. Hedge funds and other institutional investors own 87.18% of the company's stock.

Wall Street Analysts Forecast Growth

NOW has been the topic of several research reports. The Goldman Sachs Group reissued a "buy" rating on shares of ServiceNow in a research report on Thursday, April 24th. JMP Securities restated a "market outperform" rating and set a $1,300.00 price target on shares of ServiceNow in a research report on Monday. Canaccord Genuity Group cut their price objective on ServiceNow from $1,275.00 to $900.00 and set a "buy" rating for the company in a research report on Tuesday, April 22nd. BMO Capital Markets raised their target price on shares of ServiceNow from $1,150.00 to $1,160.00 and gave the stock an "outperform" rating in a research note on Thursday, July 24th. Finally, Stifel Nicolaus raised their target price on ServiceNow from $975.00 to $1,050.00 and gave the stock a "buy" rating in a research note on Tuesday, May 6th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, thirty have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, ServiceNow has a consensus rating of "Moderate Buy" and a consensus target price of $1,115.20.

ServiceNow Trading Down 3.9%

Shares of NYSE NOW traded down $35.15 on Thursday, reaching $877.16. 832,260 shares of the company traded hands, compared to its average volume of 1,677,101. The company has a 50 day moving average of $988.58 and a 200 day moving average of $947.68. ServiceNow, Inc. has a fifty-two week low of $678.66 and a fifty-two week high of $1,198.09. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.14. The stock has a market capitalization of $182.45 billion, a PE ratio of 110.59, a P/E/G ratio of 4.08 and a beta of 0.93.

ServiceNow (NYSE:NOW - Get Free Report) last released its quarterly earnings data 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 company had revenue of $3.22 billion during the quarter, compared to analyst estimates of $3.12 billion. ServiceNow had a net margin of 13.78% and a return on equity of 18.04%. The business's quarterly revenue was up 22.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.13 earnings per share. On average, equities research analysts forecast that ServiceNow, Inc. will post 8.93 earnings per share for the current fiscal year.

Insider Transactions at ServiceNow

In other news, insider Jacqueline P. Canney sold 145 shares of ServiceNow stock in a transaction dated Friday, May 30th. The shares were sold at an average price of $1,020.00, for a total value of $147,900.00. Following the completion of the transaction, the insider directly owned 3,027 shares of the company's stock, valued at approximately $3,087,540. The trade was a 4.57% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO William R. Mcdermott sold 2,050 shares of the firm's stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $1,012.01, for a total value of $2,074,620.50. Following the completion of the sale, the chief executive officer owned 6,614 shares in the company, valued at approximately $6,693,434.14. This represents a 23.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 5,250 shares of company stock worth $5,318,667 over the last three months. Insiders own 0.38% of the company's stock.

ServiceNow 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.