Atomi Financial Group Inc. Trims Stock Holdings in ServiceNow, Inc. (NYSE:NOW)

Atomi Financial Group Inc. cut its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 1.6% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,985 shares of the information technology services provider’s stock after selling 32 shares during the quarter. Atomi Financial Group Inc.’s holdings in ServiceNow were worth $1,776,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the business. Regal Investment Advisors LLC increased its position in shares of ServiceNow by 6.0% in the 4th quarter. Regal Investment Advisors LLC now owns 764 shares of the information technology services provider’s stock worth $540,000 after purchasing an additional 43 shares during the last quarter. Cresset Asset Management LLC raised its stake in ServiceNow by 121.7% during the fourth quarter. Cresset Asset Management LLC now owns 23,821 shares of the information technology services provider’s stock valued at $16,829,000 after buying an additional 133,693 shares in the last quarter. Ethic Inc. lifted its holdings in ServiceNow by 12.2% during the 4th quarter. Ethic Inc. now owns 17,838 shares of the information technology services provider’s stock worth $12,602,000 after buying an additional 1,945 shares during the last quarter. Alta Park Capital LP acquired a new position in shares of ServiceNow in the 4th quarter worth approximately $43,117,000. Finally, Left Brain Wealth Management LLC increased its holdings in shares of ServiceNow by 1.5% in the 4th quarter. Left Brain Wealth Management LLC now owns 4,660 shares of the information technology services provider’s stock valued at $3,292,000 after acquiring an additional 67 shares during the last quarter. 87.18% of the stock is owned by institutional investors and hedge funds.

ServiceNow Price Performance

Shares of NYSE NOW opened at $922.10 on Wednesday. ServiceNow, Inc. has a twelve month low of $527.24 and a twelve month high of $945.46. 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 firm has a 50-day moving average of $850.57 and a two-hundred day moving average of $781.79. The company has a market capitalization of $189.03 billion, a price-to-earnings ratio of 98.62, a PEG ratio of 5.55 and a beta of 0.99.

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

Insider Transactions at ServiceNow

In other news, General Counsel Russell S. Elmer sold 1,937 shares of the company’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $779.81, for a total transaction of $1,510,491.97. Following the completion of the sale, the general counsel now directly owns 6,736 shares of the company’s stock, valued at $5,252,800.16. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other ServiceNow news, General Counsel Russell S. Elmer sold 1,937 shares of ServiceNow stock in a transaction that occurred 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 directly 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 document filed with the SEC, which is accessible through this hyperlink. Also, insider Jacqueline P. Canney sold 94 shares of the firm’s stock in a transaction on Monday, August 19th. The stock was 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 approximately $3,319,372.48. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 6,914 shares of company stock valued at $5,608,936 in the last three months. 0.25% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on NOW. Truist Financial raised their price objective on ServiceNow from $750.00 to $780.00 and gave the stock a “hold” rating in a research note on Thursday, July 25th. TD Cowen lifted their price target on shares of ServiceNow from $870.00 to $900.00 and gave the company a “buy” rating in a report on Thursday, July 25th. Canaccord Genuity Group reiterated a “buy” rating and set a $835.00 price objective on shares of ServiceNow in a research note on Tuesday, July 23rd. Needham & Company LLC restated a “buy” rating and issued a $900.00 target price on shares of ServiceNow in a research note on Monday, September 9th. Finally, Piper Sandler increased their price target on ServiceNow from $830.00 to $850.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-four have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $866.24.

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.