ASB Consultores LLC Sells 50 Shares of ServiceNow, Inc. (NYSE:NOW)

ASB Consultores LLC trimmed its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 6.3% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 743 shares of the information technology services provider’s stock after selling 50 shares during the quarter. ASB Consultores LLC’s holdings in ServiceNow were worth $584,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. Creekmur Asset Management LLC bought a new position in ServiceNow during the 1st quarter worth approximately $25,000. Versant Capital Management Inc lifted its stake in ServiceNow by 466.7% in the second quarter. Versant Capital Management Inc now owns 34 shares of the information technology services provider’s stock valued at $27,000 after buying an additional 28 shares during the period. University of Texas Texas AM Investment Managment Co. bought a new position in shares of ServiceNow during the 4th quarter worth approximately $29,000. EntryPoint Capital LLC grew its position in shares of ServiceNow by 3,900.0% during the 1st quarter. EntryPoint Capital LLC now owns 40 shares of the information technology services provider’s stock worth $30,000 after buying an additional 39 shares during the period. Finally, Ridgewood Investments LLC bought a new stake in shares of ServiceNow in the 2nd quarter valued at $32,000. 87.18% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on NOW. Wells Fargo & Company increased their price objective on ServiceNow from $920.00 to $935.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. TD Cowen raised their price objective on ServiceNow from $870.00 to $900.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Robert W. Baird upped their target price on shares of ServiceNow from $885.00 to $900.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Deutsche Bank Aktiengesellschaft raised their price target on shares of ServiceNow from $875.00 to $900.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. Finally, Stifel Nicolaus upped their price objective on shares of ServiceNow from $820.00 to $900.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. One analyst has rated the stock with a sell rating, two have given a hold rating and twenty-four have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $855.44.

ServiceNow Stock Performance

NYSE NOW opened at $919.25 on Friday. ServiceNow, Inc. has a 52-week low of $527.24 and a 52-week high of $921.97. The company has a fifty day moving average of $818.98 and a 200-day moving average of $770.11. The company has a market capitalization of $188.45 billion, a P/E ratio of 98.32, a P/E/G ratio of 5.25 and a beta of 0.98. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.12 and a current ratio of 1.12.

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

Insider Buying and Selling at ServiceNow

In related news, CFO Gina Mastantuono sold 1,800 shares of the 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 owns 11,490 shares of the company’s stock, valued at approximately $9,479,250. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other ServiceNow news, CFO Gina Mastantuono sold 1,800 shares of ServiceNow stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $825.00, for a total value 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 approximately $9,479,250. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Nicholas Tzitzon sold 1,857 shares of ServiceNow stock in a transaction on Monday, August 26th. The stock was sold at an average price of $829.68, for a total transaction of $1,540,715.76. Following the completion of the transaction, the insider now directly owns 3,649 shares in the company, valued at $3,027,502.32. The disclosure for this sale can be found here. Insiders have sold 6,914 shares of company stock worth $5,608,936 over the last ninety days. Insiders own 0.25% of the company’s stock.

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.