Sigma Planning Corp Lowers Position in ServiceNow Inc (NOW)

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Sigma Planning Corp lessened its stake in ServiceNow Inc (NYSE:NOW) by 32.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,286 shares of the information technology services provider’s stock after selling 613 shares during the quarter. Sigma Planning Corp’s holdings in ServiceNow were worth $317,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the stock. Cerity Partners LLC raised its holdings in shares of ServiceNow by 3.6% in the 4th quarter. Cerity Partners LLC now owns 1,280 shares of the information technology services provider’s stock worth $228,000 after purchasing an additional 45 shares during the period. Aft Forsyth & Company Inc. raised its holdings in ServiceNow by 2.2% during the 4th quarter. Aft Forsyth & Company Inc. now owns 2,575 shares of the information technology services provider’s stock valued at $458,000 after acquiring an additional 55 shares during the period. Shine Investment Advisory Services Inc. raised its holdings in ServiceNow by 50.5% during the 4th quarter. Shine Investment Advisory Services Inc. now owns 167 shares of the information technology services provider’s stock valued at $30,000 after acquiring an additional 56 shares during the period. Castle Rock Wealth Management LLC raised its holdings in ServiceNow by 3.5% during the 4th quarter. Castle Rock Wealth Management LLC now owns 1,815 shares of the information technology services provider’s stock valued at $414,000 after acquiring an additional 61 shares during the period. Finally, Circle Wealth Management LLC raised its holdings in ServiceNow by 2.1% during the 4th quarter. Circle Wealth Management LLC now owns 3,062 shares of the information technology services provider’s stock valued at $545,000 after acquiring an additional 62 shares during the period. 94.02% of the stock is currently owned by institutional investors.

In other ServiceNow news, insider David Schneider sold 2,446 shares of the firm’s stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $268.50, for a total transaction of $656,751.00. Following the completion of the transaction, the insider now owns 44,259 shares of the company’s stock, valued at $11,883,541.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Patricia L. Wadors sold 1,559 shares of the firm’s stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $263.61, for a total transaction of $410,967.99. Following the transaction, the insider now directly owns 3,093 shares of the company’s stock, valued at approximately $815,345.73. The disclosure for this sale can be found here. Over the last three months, insiders sold 98,481 shares of company stock valued at $23,570,054. 1.00% of the stock is owned by insiders.

NOW has been the topic of a number of analyst reports. Goldman Sachs Group boosted their target price on shares of ServiceNow from $260.00 to $275.00 and gave the company a “buy” rating in a report on Monday, February 25th. They noted that the move was a valuation call. JPMorgan Chase & Co. boosted their target price on shares of ServiceNow to $245.00 and gave the company an “overweight” rating in a report on Thursday, January 31st. BMO Capital Markets reissued an “outperform” rating and set a $235.00 target price (up previously from $205.00) on shares of ServiceNow in a report on Thursday, January 31st. Zacks Investment Research raised shares of ServiceNow from a “hold” rating to a “buy” rating and set a $299.00 target price on the stock in a report on Tuesday, April 30th. Finally, KeyCorp reissued an “overweight” rating and set a $250.00 target price (up previously from $210.00) on shares of ServiceNow in a report on Thursday, January 31st. Three analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and three have assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $268.24.

Shares of NYSE:NOW opened at $272.07 on Wednesday. The stock has a market cap of $48.26 billion, a PE ratio of 1,360.35, a PEG ratio of 19.18 and a beta of 1.45. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.88. ServiceNow Inc has a 12 month low of $147.63 and a 12 month high of $275.20.

ServiceNow (NYSE:NOW) last issued its quarterly earnings data on Wednesday, April 24th. The information technology services provider reported $0.01 EPS for the quarter, beating the consensus estimate of ($0.09) by $0.10. ServiceNow had a negative net margin of 1.38% and a positive return on equity of 1.64%. The firm had revenue of $788.93 million during the quarter, compared to the consensus estimate of $768.09 million. During the same period in the prior year, the firm posted $0.56 earnings per share. The company’s quarterly revenue was up 33.9% compared to the same quarter last year. On average, equities analysts anticipate that ServiceNow Inc will post 0.48 earnings per share for the current year.

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About ServiceNow

ServiceNow, Inc provides enterprise cloud computing solutions that define, structure, manage, and automate services for enterprises worldwide. The company offers information technology (IT) service management applications, as well as digital workflow products for customer service, human resources, security operations, integrated risk management, and other enterprise departments.

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Institutional Ownership by Quarter for ServiceNow (NYSE:NOW)

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