ServiceNow, Inc. (NYSE:NOW) Shares Sold by Overbrook Management Corp

Overbrook Management Corp decreased its holdings in ServiceNow, Inc. (NYSE:NOW) by 20.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,654 shares of the information technology services provider’s stock after selling 2,189 shares during the quarter. ServiceNow comprises about 2.0% of Overbrook Management Corp’s portfolio, making the stock its 20th biggest position. Overbrook Management Corp’s holdings in ServiceNow were worth $9,174,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in NOW. State Street Corp boosted its holdings in ServiceNow by 2.6% in the third quarter. State Street Corp now owns 9,077,547 shares of the information technology services provider’s stock worth $8,118,867,000 after acquiring an additional 226,023 shares in the last quarter. FMR LLC raised its position in shares of ServiceNow by 9.9% in the 3rd quarter. FMR LLC now owns 5,606,394 shares of the information technology services provider’s stock valued at $5,014,302,000 after purchasing an additional 502,845 shares during the last quarter. World Investment Advisors LLC boosted its stake in ServiceNow by 499,668.1% in the 3rd quarter. World Investment Advisors LLC now owns 4,772,785 shares of the information technology services provider’s stock worth $4,268,731,000 after purchasing an additional 4,771,830 shares in the last quarter. Geode Capital Management LLC grew its position in ServiceNow by 1.9% during the 3rd quarter. Geode Capital Management LLC now owns 4,211,901 shares of the information technology services provider’s stock worth $3,753,828,000 after purchasing an additional 78,378 shares during the last quarter. Finally, Wellington Management Group LLP increased its stake in ServiceNow by 24.1% during the 3rd quarter. Wellington Management Group LLP now owns 3,169,531 shares of the information technology services provider’s stock valued at $2,834,797,000 after purchasing an additional 615,797 shares in the last quarter. 87.18% of the stock is currently owned by hedge funds and other institutional investors.

ServiceNow Stock Up 1.4 %

Shares of NYSE NOW opened at $1,072.02 on Monday. ServiceNow, Inc. has a 52-week low of $637.99 and a 52-week high of $1,157.90. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.16. The company’s 50-day simple moving average is $1,069.67 and its 200-day simple moving average is $932.23. The firm has a market cap of $220.84 billion, a price-to-earnings ratio of 166.72, a price-to-earnings-growth ratio of 4.65 and a beta of 0.99.

ServiceNow (NYSE:NOW) last issued its quarterly earnings results on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.46 by $0.26. ServiceNow had a return on equity of 16.03% and a net margin of 12.77%. The firm had revenue of $2.80 billion for the quarter, compared to analyst estimates of $2.75 billion. During the same period in the previous year, the company posted $1.21 earnings per share. The business’s revenue was up 22.2% on a year-over-year basis. Equities analysts predict that ServiceNow, Inc. will post 7.07 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have recently commented on NOW shares. StockNews.com upgraded shares of ServiceNow from a “hold” rating to a “buy” rating in a research note on Tuesday, November 12th. Raymond James started coverage on ServiceNow in a research report on Tuesday, December 24th. They set an “outperform” rating and a $1,200.00 price target for the company. Piper Sandler raised their price objective on ServiceNow from $1,000.00 to $1,200.00 and gave the stock an “overweight” rating in a research note on Monday, January 6th. Royal Bank of Canada upped their target price on ServiceNow from $1,045.00 to $1,210.00 and gave the company an “outperform” rating in a research report on Friday, January 3rd. Finally, Jefferies Financial Group increased their price target on shares of ServiceNow from $1,100.00 to $1,250.00 and gave the stock a “buy” rating in a report on Monday, December 2nd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-five have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $1,080.38.

Insider Transactions at ServiceNow

In other ServiceNow news, insider Jacqueline P. Canney sold 455 shares of the firm’s stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $1,058.54, for a total value of $481,635.70. Following the transaction, the insider now directly owns 3,027 shares of the company’s stock, valued at $3,204,200.58. This trade represents a 13.07 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO William R. Mcdermott sold 12,271 shares of the company’s stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $997.67, for a total value of $12,242,408.57. Following the completion of the sale, the chief executive officer now owns 2,595 shares of the company’s stock, valued at $2,588,953.65. This trade represents a 82.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 20,731 shares of company stock valued at $21,016,751 over the last 90 days. 0.25% of the stock is currently owned by corporate insiders.

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.