ServiceNow, Inc. $NOW is Sandhill Capital Partners LLC's 5th Largest Position

Key Points

• Sandhill Capital Partners LLC decreased its position in ServiceNow, Inc. by 1.8%, retaining 67,322 shares, which makes up 4.4% of its investment portfolio, valued at approximately $53.6 million.
• Insiders at ServiceNow, including CFO Gina Mastantuono and Vice Chairman Nicholas Tzitzon, sold shares recently, with total sales in the last quarter reaching $10.6 million.
• ServiceNow's stock has a current average price target ranging from $724 to $1,200, with a consensus rating of "Moderate Buy" among analysts.

Sandhill Capital Partners LLC decreased its position in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 1.8% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 67,322 shares of the information technology services provider's stock after selling 1,254 shares during the quarter. ServiceNow makes up 4.4% of Sandhill Capital Partners LLC's investment portfolio, making the stock its 5th largest position. Sandhill Capital Partners LLC's holdings in ServiceNow were worth $53,598,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in NOW. Bogart Wealth LLC boosted its stake in ServiceNow by 113.3% in the 1st 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 during the period. Graybill Wealth Management LTD. bought a new stake in ServiceNow during the 1st quarter worth approximately $26,000. Quarry LP purchased a new stake in ServiceNow in the 4th quarter worth approximately $27,000. WASHINGTON TRUST Co boosted its holdings in 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 period. Finally, Dagco Inc. purchased a new position in shares of ServiceNow during the 1st quarter valued at $33,000. 87.18% of the stock is currently owned by institutional investors.

Insider Buying and Selling at ServiceNow

In other ServiceNow news, CFO Gina Mastantuono sold 1,762 shares of ServiceNow stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $866.45, for a total value of $1,526,684.90. Following the completion of the sale, the chief financial officer owned 12,228 shares of the company's stock, valued at approximately $10,594,950.60. The trade was a 12.59% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Vice Chairman Nicholas Tzitzon sold 1,719 shares of the firm's stock in a transaction on 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 owned 3,000 shares in the company, valued at approximately $2,599,350. This trade represents a 36.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 11,361 shares of company stock worth $10,579,976. Insiders own 0.38% of the company's stock.

Wall Street Analyst Weigh In

NOW has been the subject of several research analyst reports. Oppenheimer reissued an "outperform" rating and set a $1,150.00 price objective (up previously from $1,100.00) on shares of ServiceNow in a research note on Thursday, July 24th. Piper Sandler raised their target price on shares of ServiceNow from $1,120.00 to $1,150.00 and gave the company an "overweight" rating in a research note on Thursday, July 24th. Bank of America upped their target price on shares of ServiceNow from $1,110.00 to $1,200.00 and gave the stock a "buy" rating in a research report on Thursday, July 24th. Stifel Nicolaus upped their price objective on shares of ServiceNow from $975.00 to $1,050.00 and gave the company a "buy" rating in a research note on Tuesday, May 6th. Finally, Guggenheim restated a "sell" rating and set a $724.00 price target on shares of ServiceNow in a research report on Thursday, July 17th. One research analyst has rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating, three have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $1,115.20.

ServiceNow Price Performance

NOW opened at $887.4020 on Wednesday. ServiceNow, Inc. has a 12-month low of $678.66 and a 12-month high of $1,198.09. The company has a market cap of $184.58 billion, a price-to-earnings ratio of 111.76, a price-to-earnings-growth ratio of 4.02 and a beta of 0.93. 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 fifty day simple moving average of $961.85 and a two-hundred day simple moving average of $931.84.

ServiceNow (NYSE:NOW - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The information technology services provider reported $4.09 earnings per share for the quarter, topping analysts' consensus estimates of $3.57 by $0.52. ServiceNow had a net margin of 13.78% and a return on equity of 18.04%. The business had revenue of $3.22 billion for the quarter, compared to analysts' expectations of $3.12 billion. During the same quarter in the prior year, the company earned $3.13 earnings per share. The business's revenue was up 22.4% compared to the same quarter last year. Research analysts predict that ServiceNow, Inc. will post 8.93 earnings per share for the current fiscal year.

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.

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