Morling Financial Advisors LLC Trims Stake in ServiceNow, Inc. (NYSE:NOW)

Morling Financial Advisors LLC trimmed its stake in ServiceNow, Inc. (NYSE:NOW) by 9.2% in the 4th quarter, HoldingsChannel reports. The firm owned 515 shares of the information technology services provider’s stock after selling 52 shares during the period. Morling Financial Advisors LLC’s holdings in ServiceNow were worth $364,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. AdvisorNet Financial Inc boosted its holdings in ServiceNow by 266.7% in the 4th quarter. AdvisorNet Financial Inc now owns 44 shares of the information technology services provider’s stock worth $31,000 after buying an additional 32 shares during the period. PFG Private Wealth Management LLC bought a new position in ServiceNow in the 3rd quarter worth $28,000. Fortitude Family Office LLC bought a new position in ServiceNow in the 4th quarter worth $41,000. Oliver Lagore Vanvalin Investment Group boosted its holdings in ServiceNow by 30.4% in the 4th quarter. Oliver Lagore Vanvalin Investment Group now owns 60 shares of the information technology services provider’s stock worth $42,000 after buying an additional 14 shares during the period. Finally, Friedenthal Financial bought a new position in ServiceNow in the 4th quarter worth $44,000. 87.18% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

NOW has been the subject of several research reports. Stifel Nicolaus reissued a “buy” rating and set a $820.00 price objective on shares of ServiceNow in a report on Wednesday, March 20th. BMO Capital Markets increased their price objective on shares of ServiceNow from $630.00 to $850.00 and gave the company an “outperform” rating in a report on Thursday, January 25th. UBS Group increased their price objective on shares of ServiceNow from $885.00 to $920.00 and gave the company a “buy” rating in a report on Monday, April 15th. Needham & Company LLC reissued a “buy” rating and set a $900.00 price objective on shares of ServiceNow in a report on Tuesday, April 16th. Finally, Oppenheimer increased their price objective on shares of ServiceNow from $750.00 to $800.00 and gave the company an “outperform” rating in a report on Thursday, January 18th. Three analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $780.37.

ServiceNow Trading Up 0.7 %

Shares of NYSE:NOW traded up $5.44 during trading on Wednesday, reaching $746.39. 1,702,385 shares of the company were exchanged, compared to its average volume of 1,186,092. The firm has a market capitalization of $153.29 billion, a PE ratio of 88.75, a P/E/G ratio of 4.56 and a beta of 0.97. The business’s fifty day simple moving average is $762.24 and its 200-day simple moving average is $706.46. ServiceNow, Inc. has a 12-month low of $427.68 and a 12-month high of $815.32. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.06 and a quick ratio of 1.06.

ServiceNow (NYSE:NOW) last issued its earnings results on Wednesday, January 24th. The information technology services provider reported $3.11 EPS for the quarter, topping analysts’ consensus estimates of $2.77 by $0.34. The business had revenue of $2.44 billion for the quarter, compared to analyst estimates of $2.40 billion. ServiceNow had a net margin of 19.30% and a return on equity of 11.85%. The company’s quarterly revenue was up 25.6% compared to the same quarter last year. During the same period last year, the company posted $0.88 earnings per share. On average, research analysts anticipate that ServiceNow, Inc. will post 6.16 EPS for the current year.

Insider Transactions at ServiceNow

In other news, insider Paul John Smith sold 5,159 shares of the firm’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $745.32, for a total transaction of $3,845,105.88. Following the transaction, the insider now directly owns 5,453 shares of the company’s stock, valued at $4,064,229.96. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, insider Paul John Smith sold 5,159 shares of the firm’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $745.32, for a total transaction of $3,845,105.88. Following the transaction, the insider now directly owns 5,453 shares of the company’s stock, valued at $4,064,229.96. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO William R. Mcdermott sold 5,030 shares of ServiceNow stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $753.08, for a total transaction of $3,787,992.40. Following the transaction, the chief executive officer now directly owns 17,177 shares in the company, valued at $12,935,655.16. The disclosure for this sale can be found here. Over the last three months, insiders have sold 13,164 shares of company stock valued at $9,940,303. 0.25% of the stock is currently owned by company insiders.

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.