Mirador Capital Partners LP Cuts Stake in ServiceNow, Inc. (NYSE:NOW)

Mirador Capital Partners LP lessened its stake in ServiceNow, Inc. (NYSE:NOW) by 2.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 458 shares of the information technology services provider’s stock after selling 13 shares during the quarter. Mirador Capital Partners LP’s holdings in ServiceNow were worth $410,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. HBW Advisory Services LLC purchased a new position in shares of ServiceNow in the third quarter worth $210,000. Private Client Services LLC raised its position in ServiceNow by 16.9% in the 3rd quarter. Private Client Services LLC now owns 2,286 shares of the information technology services provider’s stock worth $2,045,000 after buying an additional 330 shares during the last quarter. Czech National Bank lifted its stake in ServiceNow by 7.4% during the 3rd quarter. Czech National Bank now owns 41,964 shares of the information technology services provider’s stock valued at $37,532,000 after acquiring an additional 2,900 shares during the period. Massmutual Trust Co. FSB ADV boosted its holdings in shares of ServiceNow by 8.5% during the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 10,692 shares of the information technology services provider’s stock valued at $9,563,000 after acquiring an additional 838 shares during the last quarter. Finally, Trust Co. of Toledo NA OH bought a new stake in shares of ServiceNow in the third quarter worth approximately $426,000. 87.18% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at ServiceNow

In other ServiceNow news, insider Nicholas Tzitzon sold 1,857 shares of the stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $829.68, for a total transaction of $1,540,715.76. Following the transaction, the insider now owns 3,649 shares of the company’s stock, valued at $3,027,502.32. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, General Counsel Russell S. Elmer sold 1,937 shares of ServiceNow stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $779.81, for a total transaction of $1,510,491.97. Following the transaction, the general counsel now owns 6,736 shares in the company, valued at approximately $5,252,800.16. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Nicholas Tzitzon sold 1,857 shares of the company’s 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 sale, the insider now directly owns 3,649 shares of the company’s stock, valued at approximately $3,027,502.32. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 6,914 shares of company stock worth $5,608,936. 0.25% of the stock is currently owned by insiders.

ServiceNow Price Performance

Shares of NYSE NOW opened at $917.68 on Friday. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.17. The company’s 50-day moving average price is $848.43 and its 200 day moving average price is $780.76. ServiceNow, Inc. has a 52 week low of $527.24 and a 52 week high of $945.46. The stock has a market cap of $188.12 billion, a price-to-earnings ratio of 98.15, a PEG ratio of 5.55 and a beta of 0.99.

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

Analyst Upgrades and Downgrades

Several research firms have weighed in on NOW. JPMorgan Chase & Co. increased their price target on shares of ServiceNow from $780.00 to $820.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. Canaccord Genuity Group restated a “buy” rating and issued a $835.00 price target on shares of ServiceNow in a research report on Tuesday, July 23rd. Guggenheim reissued a “sell” rating and issued a $640.00 target price on shares of ServiceNow in a report on Monday, July 8th. JMP Securities lifted their price target on shares of ServiceNow from $825.00 to $850.00 and gave the company a “market outperform” rating in a report on Thursday, July 25th. Finally, BMO Capital Markets increased their price objective on shares of ServiceNow from $830.00 to $860.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. One equities research 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. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $855.44.

ServiceNow 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.