ServiceNow, Inc. $NOW Shares Sold by Sax Wealth Advisors LLC

Key Points

• Sax Wealth Advisors LLC reduced its holdings in ServiceNow, Inc. by 55.4% during the 1st quarter, decreasing their position to 269 shares valued at approximately $214,000.
• Recent analyst upgrades include Jefferies Financial Group raising ServiceNow's price target to $1,150 and Needham & Company LLC setting a new target at $1,200, with the stock currently holding an average rating of "Moderate Buy."
• ServiceNow's recent earnings report revealed an EPS of $4.09, surpassing estimates, and a revenue of $3.22 billion, indicating a 22.4% increase compared to the same quarter last year.

Sax Wealth Advisors LLC reduced its position in ServiceNow, Inc. (NYSE:NOW - Free Report) by 55.4% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 269 shares of the information technology services provider's stock after selling 334 shares during the quarter. Sax Wealth Advisors LLC's holdings in ServiceNow were worth $214,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Quarry LP acquired a new stake in shares of ServiceNow in the fourth quarter valued at approximately $27,000. Bogart Wealth LLC boosted its holdings in shares of 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 during the period. Graybill Wealth Management LTD. acquired a new stake in shares of ServiceNow in the first quarter valued at approximately $26,000. Heck Capital Advisors LLC acquired a new stake in shares of ServiceNow in the fourth quarter valued at approximately $37,000. Finally, WASHINGTON TRUST Co lifted its holdings in shares of ServiceNow by 620.0% during the first quarter. WASHINGTON TRUST Co now owns 36 shares of the information technology services provider's stock worth $29,000 after purchasing an additional 31 shares during the period. 87.18% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on NOW shares. Jefferies Financial Group increased their price target on ServiceNow from $1,025.00 to $1,150.00 and gave the stock a "buy" rating in a report on Thursday, July 24th. Needham & Company LLC increased their price target on ServiceNow from $1,050.00 to $1,200.00 and gave the stock a "buy" rating in a report on Thursday, July 24th. FBN Securities raised ServiceNow to a "strong-buy" rating in a report on Wednesday, June 11th. Royal Bank Of Canada increased their price target on ServiceNow from $1,060.00 to $1,100.00 and gave the stock an "outperform" rating in a report on Tuesday, May 6th. Finally, Truist Financial raised ServiceNow from a "hold" rating to a "buy" rating and increased their price target for the stock from $950.00 to $1,200.00 in a report on Thursday, May 1st. One equities research analyst has rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $1,115.20.

ServiceNow Price Performance

ServiceNow stock opened at $885.7930 on Monday. ServiceNow, Inc. has a one year low of $678.66 and a one year high of $1,198.09. 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 business has a fifty day moving average of $955.00 and a two-hundred day moving average of $928.38. The company has a market cap of $184.24 billion, a P/E ratio of 111.56, a price-to-earnings-growth ratio of 4.00 and a beta of 0.93.

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

Insider Buying and Selling

In other news, CFO Gina Mastantuono sold 1,762 shares of ServiceNow stock in a transaction on Monday, August 18th. The stock was sold at an average price of $866.45, for a total transaction of $1,526,684.90. Following the completion of the transaction, the chief financial officer owned 12,228 shares of the company's stock, valued at $10,594,950.60. The trade was a 12.59% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Paul Fipps sold 1,452 shares of ServiceNow stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $895.05, for a total value of $1,299,612.60. Following the transaction, the insider directly owned 457 shares of the company's stock, valued at $409,037.85. This trade represents a 76.06% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 16,096 shares of company stock valued at $14,807,562 in the last quarter. Corporate insiders own 0.38% of the company's stock.

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.

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