Carolinas Wealth Consulting LLC Cuts Position in ServiceNow, Inc. (NYSE:NOW)

Carolinas Wealth Consulting LLC trimmed its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 14.8% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 150 shares of the information technology services provider’s stock after selling 26 shares during the quarter. Carolinas Wealth Consulting LLC’s holdings in ServiceNow were worth $118,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of NOW. Gardner Lewis Asset Management L P raised its stake in shares of ServiceNow by 49.6% during the 2nd quarter. Gardner Lewis Asset Management L P now owns 6,039 shares of the information technology services provider’s stock worth $4,751,000 after purchasing an additional 2,001 shares during the period. CCLA Investment Management raised its position in ServiceNow by 1.1% in the second quarter. CCLA Investment Management now owns 121,186 shares of the information technology services provider’s stock worth $93,938,000 after acquiring an additional 1,280 shares during the period. Elo Mutual Pension Insurance Co boosted its stake in ServiceNow by 0.5% in the second quarter. Elo Mutual Pension Insurance Co now owns 18,826 shares of the information technology services provider’s stock valued at $14,810,000 after acquiring an additional 95 shares during the last quarter. Blair William & Co. IL grew its position in shares of ServiceNow by 1.4% during the 2nd quarter. Blair William & Co. IL now owns 305,389 shares of the information technology services provider’s stock valued at $240,241,000 after acquiring an additional 4,287 shares during the period. Finally, Zega Financial LLC increased its stake in shares of ServiceNow by 39.7% during the 2nd quarter. Zega Financial LLC now owns 1,172 shares of the information technology services provider’s stock worth $922,000 after purchasing an additional 333 shares during the last quarter. 87.18% of the stock is currently owned by institutional investors.

Insider Activity

In other ServiceNow news, insider Jacqueline P. Canney sold 94 shares of the business’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $825.92, for a total value of $77,636.48. Following the completion of the sale, the insider now directly owns 4,019 shares of the company’s stock, valued at $3,319,372.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, General Counsel Russell S. Elmer sold 1,937 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $779.81, for a total value of $1,510,491.97. Following the transaction, the general counsel now owns 6,736 shares in the company, valued at $5,252,800.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jacqueline P. Canney sold 94 shares of ServiceNow stock in a transaction on Monday, August 19th. The stock was sold at an average price of $825.92, for a total transaction of $77,636.48. Following the completion of the transaction, the insider now directly owns 4,019 shares in the company, valued at $3,319,372.48. The disclosure for this sale can be found here. In the last 90 days, insiders sold 6,914 shares of company stock valued at $5,608,936. Corporate insiders own 0.25% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented on the company. Truist Financial upped their price objective on ServiceNow from $750.00 to $780.00 and gave the company a “hold” rating in a research note on Thursday, July 25th. Needham & Company LLC reiterated a “buy” rating and set a $900.00 price target on shares of ServiceNow in a research note on Monday, September 9th. Deutsche Bank Aktiengesellschaft boosted their price objective on ServiceNow from $875.00 to $900.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Piper Sandler increased their target price on shares of ServiceNow from $830.00 to $850.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. Finally, Citigroup boosted their price target on shares of ServiceNow from $909.00 to $911.00 and gave the company a “buy” rating in a research report on Wednesday, July 17th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and twenty-four have issued a buy rating to the company. Based on data from MarketBeat.com, ServiceNow has a consensus rating of “Moderate Buy” and an average price target of $855.44.

ServiceNow Trading Up 0.7 %

Shares of NOW stock opened at $891.59 on Thursday. The business has a 50-day moving average price of $815.58 and a two-hundred day moving average price of $769.06. ServiceNow, Inc. has a 12-month low of $527.24 and a 12-month high of $899.71. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.17. The firm has a market cap of $182.78 billion, a P/E ratio of 95.36, a price-to-earnings-growth ratio of 5.25 and a beta of 0.98.

ServiceNow (NYSE:NOW) last released its earnings results on Wednesday, July 24th. The information technology services provider reported $3.13 earnings per share for the quarter, topping analysts’ consensus estimates of $2.85 by $0.28. ServiceNow had a return on equity of 14.52% and a net margin of 11.51%. The company had revenue of $2.63 billion during the quarter, compared to the consensus estimate of $2.61 billion. During the same quarter in the previous year, the company posted $0.77 EPS. ServiceNow’s quarterly revenue was up 22.2% compared to the same quarter last year. Equities analysts anticipate that ServiceNow, Inc. will post 6.78 EPS for the current fiscal year.

ServiceNow Company 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.