Natural Investments LLC Reduces Stock Holdings in ServiceNow, Inc. (NYSE:NOW)

Key Points

• Natural Investments LLC reduced its stake in ServiceNow by 13.5%, now owning 4,161 shares valued at approximately $3.31 million, making it the 23rd largest position in its portfolio.
• ServiceNow reported a 22.4% year-over-year revenue increase for its most recent quarter, achieving an EPS of $4.09, exceeding analysts’ expectations of $3.57.
• Brokerages have adjusted their price targets for ServiceNow, with Evercore ISI increasing its target to $1,000 and Oppenheimer raising theirs to $1,150, indicating a strong buy signal from several analysts.

Natural Investments LLC trimmed its stake in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 13.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,161 shares of the information technology services provider's stock after selling 647 shares during the quarter. ServiceNow makes up 0.9% of Natural Investments LLC's holdings, making the stock its 23rd biggest holding. Natural Investments LLC's holdings in ServiceNow were worth $3,312,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in NOW. Edgemoor Investment Advisors Inc. lifted its holdings in ServiceNow by 2.5% during the 1st quarter. Edgemoor Investment Advisors Inc. now owns 459 shares of the information technology services provider's stock worth $366,000 after purchasing an additional 11 shares in the last quarter. Integrated Investment Consultants LLC grew its holdings in ServiceNow by 2.5% during the 1st quarter. Integrated Investment Consultants LLC now owns 450 shares of the information technology services provider's stock valued at $358,000 after buying an additional 11 shares in the last quarter. one8zero8 LLC grew its holdings in ServiceNow by 3.2% during the 1st quarter. one8zero8 LLC now owns 356 shares of the information technology services provider's stock valued at $283,000 after buying an additional 11 shares in the last quarter. Capital Investment Advisory Services LLC increased its position in shares of ServiceNow by 2.1% during the first quarter. Capital Investment Advisory Services LLC now owns 577 shares of the information technology services provider's stock valued at $459,000 after buying an additional 12 shares during the period. Finally, Argent Trust Co lifted its holdings in shares of ServiceNow by 0.4% in the first quarter. Argent Trust Co now owns 3,363 shares of the information technology services provider's stock worth $2,677,000 after buying an additional 12 shares in the last quarter. 87.18% of the stock is currently owned by institutional investors.

Insider Activity at ServiceNow

In other news, Director Lawrence Jackson sold 757 shares of the stock in a transaction dated Tuesday, July 29th. The shares were sold at an average price of $990.50, for a total transaction of $749,808.50. Following the completion of the sale, the director directly owned 588 shares in the company, valued at approximately $582,414. This represents a 56.28% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Vice Chairman Nicholas Tzitzon sold 1,171 shares of the firm's stock in a transaction dated Friday, May 30th. The stock was sold at an average price of $1,020.00, for a total value of $1,194,420.00. Following the completion of the sale, the insider directly owned 3,000 shares in the company, valued at $3,060,000. The trade was a 28.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 5,250 shares of company stock worth $5,318,667 over the last ninety days. Insiders own 0.38% of the company's stock.

ServiceNow Trading Down 4.4%

Shares of NYSE NOW traded down $40.00 during midday trading on Thursday, reaching $872.31. The company had a trading volume of 2,793,959 shares, compared to its average volume of 1,625,884. The stock has a market cap of $181.44 billion, a PE ratio of 109.86, a price-to-earnings-growth ratio of 4.11 and a beta of 0.93. ServiceNow, Inc. has a one year low of $678.66 and a one year high of $1,198.09. The firm's fifty day moving average price is $985.72 and its 200-day moving average price is $946.30. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.14.

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, beating the consensus estimate of $3.57 by $0.52. The firm had revenue of $3.22 billion during the quarter, compared to the consensus estimate of $3.12 billion. ServiceNow had a return on equity of 18.04% and a net margin of 13.78%. The business's revenue was up 22.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.13 earnings per share. On average, equities research analysts anticipate that ServiceNow, Inc. will post 8.93 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts recently commented on NOW shares. Evercore ISI boosted their price objective on shares of ServiceNow from $925.00 to $1,000.00 and gave the company an "outperform" rating in a research note on Thursday, April 24th. Bank of America raised their price target on shares of ServiceNow from $1,110.00 to $1,200.00 and gave the company a "buy" rating in a report on Thursday, July 24th. Jefferies Financial Group upped their price target on shares of 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 objective on ServiceNow from $1,050.00 to $1,200.00 and gave the stock a "buy" rating in a research report on Thursday, July 24th. Finally, Wall Street Zen upgraded ServiceNow from a "hold" rating to a "buy" rating in a research report on Tuesday, July 29th. One analyst has rated the stock with a sell rating, three have given a hold rating, thirty have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $1,115.20.

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.