ServiceNow, Inc. (NYSE:NOW) Holdings Trimmed by MRP Capital Investments LLC

MRP Capital Investments LLC cut its holdings in ServiceNow, Inc. (NYSE:NOW) by 19.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 700 shares of the information technology services provider’s stock after selling 165 shares during the quarter. MRP Capital Investments LLC’s holdings in ServiceNow were worth $551,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the business. Morling Financial Advisors LLC lifted its stake in ServiceNow by 2.5% during the second quarter. Morling Financial Advisors LLC now owns 527 shares of the information technology services provider’s stock valued at $415,000 after purchasing an additional 13 shares during the last quarter. Optas LLC boosted its stake in shares of ServiceNow by 1.7% during the 1st quarter. Optas LLC now owns 815 shares of the information technology services provider’s stock worth $621,000 after acquiring an additional 14 shares in the last quarter. Cedar Wealth Management LLC raised its position in shares of ServiceNow by 5.5% during the first quarter. Cedar Wealth Management LLC now owns 268 shares of the information technology services provider’s stock worth $204,000 after purchasing an additional 14 shares during the period. Financial Advocates Investment Management lifted its holdings in shares of ServiceNow by 2.7% during the second quarter. Financial Advocates Investment Management now owns 527 shares of the information technology services provider’s stock valued at $415,000 after purchasing an additional 14 shares during the last quarter. Finally, Ndwm LLC boosted its position in shares of ServiceNow by 0.6% in the 2nd quarter. Ndwm LLC now owns 2,415 shares of the information technology services provider’s stock valued at $1,900,000 after purchasing an additional 14 shares during the period. Institutional investors own 87.18% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Canaccord Genuity Group restated a “buy” rating and set a $835.00 price objective on shares of ServiceNow in a report on Tuesday, July 23rd. Guggenheim reiterated a “sell” rating and set a $640.00 price target on shares of ServiceNow in a report on Monday, July 8th. Piper Sandler increased their price objective on ServiceNow from $830.00 to $850.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. Royal Bank of Canada lifted their target price on ServiceNow from $850.00 to $880.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Finally, Truist Financial raised their price target on shares of ServiceNow from $750.00 to $780.00 and gave the stock a “hold” rating in a report on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $855.44.

Insider Buying and Selling at ServiceNow

In other news, CFO Gina Mastantuono sold 1,800 shares of ServiceNow stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $825.00, for a total transaction of $1,485,000.00. Following the transaction, the chief financial officer now directly owns 11,490 shares of the company’s stock, valued at $9,479,250. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, CFO Gina Mastantuono sold 1,800 shares of the company’s stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $825.00, for a total value of $1,485,000.00. Following the completion of the transaction, the chief financial officer now directly owns 11,490 shares of the company’s stock, valued at approximately $9,479,250. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Nicholas Tzitzon sold 1,857 shares of ServiceNow stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $829.68, for a total value of $1,540,715.76. Following the completion of the sale, the insider now directly owns 3,649 shares in the company, valued at approximately $3,027,502.32. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 6,914 shares of company stock valued at $5,608,936. 0.25% of the stock is currently owned by insiders.

ServiceNow Stock Up 0.7 %

NYSE NOW opened at $891.59 on Thursday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.12 and a current ratio of 1.12. The firm has a 50-day simple moving average of $815.58 and a 200 day simple moving average of $769.06. ServiceNow, Inc. has a twelve month low of $527.24 and a twelve month high of $899.71. The stock has a market cap of $182.78 billion, a PE ratio of 95.36, a PEG ratio of 5.25 and a beta of 0.98.

ServiceNow (NYSE:NOW) last announced its earnings results on Wednesday, July 24th. The information technology services provider reported $3.13 EPS for the quarter, topping the consensus estimate of $2.85 by $0.28. ServiceNow had a return on equity of 14.52% and a net margin of 11.51%. The business had revenue of $2.63 billion for the quarter, compared to the consensus estimate of $2.61 billion. During the same period in the previous year, the business earned $0.77 EPS. ServiceNow’s revenue was up 22.2% compared to the same quarter last year. On average, research analysts forecast that ServiceNow, Inc. will post 6.78 EPS for the current 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.