Exchange Traded Concepts LLC Sells 17,643 Shares of ServiceNow, Inc. (NYSE:NOW)

by · The Cerbat Gem

Exchange Traded Concepts LLC lowered its stake in ServiceNow, Inc. (NYSE:NOW – Free Report) by 50.0% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 17,610 shares of the information technology services provider’s stock after selling 17,643 shares during the period. Exchange Traded Concepts LLC’s holdings in ServiceNow were worth $15,750,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the stock. Sunpointe LLC purchased a new stake in shares of ServiceNow in the 4th quarter worth about $213,000. Garde Capital Inc. purchased a new position in shares of ServiceNow during the fourth quarter valued at approximately $105,000. Raleigh Capital Management Inc. purchased a new stake in ServiceNow during the 4th quarter valued at $250,000. Virtu Financial LLC purchased a new position in ServiceNow in the fourth quarter worth about $1,451,000. Finally, Syon Capital LLC boosted its holdings in shares of ServiceNow by 51.7% in the fourth quarter. Syon Capital LLC now owns 810 shares of the information technology services provider’s stock worth $572,000 after buying an additional 276 shares during the last quarter. 87.18% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at ServiceNow

In other news, General Counsel Russell S. Elmer sold 1,937 shares of ServiceNow stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $779.81, for a total value of $1,510,491.97. Following the completion of the transaction, the general counsel now owns 6,736 shares in the company, valued at approximately $5,252,800.16. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Paul John Smith sold 187 shares of the business’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $795.58, for a total transaction of $148,773.46. Following the sale, the insider now owns 3,779 shares of the company’s stock, valued at $3,006,496.82. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Russell S. Elmer sold 1,937 shares of the company’s stock in a transaction dated 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 completion of the sale, the general counsel now directly owns 6,736 shares of the company’s stock, valued at $5,252,800.16. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 6,914 shares of company stock valued at $5,608,936 in the last three months. Corporate insiders own 0.25% of the company’s stock.

ServiceNow Stock Down 0.6 %

NOW opened at $938.59 on Friday. ServiceNow, Inc. has a 12 month low of $527.24 and a 12 month high of $949.00. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.12 and a quick ratio of 1.12. The business has a 50-day moving average of $861.16 and a two-hundred day moving average of $786.23. The stock has a market capitalization of $192.41 billion, a price-to-earnings ratio of 100.38, a price-to-earnings-growth ratio of 5.63 and a beta of 0.99.

ServiceNow (NYSE:NOW – Get Free Report) last issued its earnings results on Wednesday, July 24th. The information technology services provider reported $3.13 EPS for the quarter, beating analysts’ consensus estimates of $2.85 by $0.28. The business had revenue of $2.63 billion for the quarter, compared to the consensus estimate of $2.61 billion. ServiceNow had a net margin of 11.51% and a return on equity of 14.52%. The business’s revenue for the quarter was up 22.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.77 EPS. On average, research analysts expect that ServiceNow, Inc. will post 6.78 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms have commented on NOW. Robert W. Baird raised 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. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $835.00 price target on shares of ServiceNow in a report on Tuesday, July 23rd. Barclays lifted their price objective on shares of ServiceNow from $890.00 to $980.00 and gave the stock an “overweight” rating in a research note on Friday. Stifel Nicolaus boosted their price objective on ServiceNow from $820.00 to $900.00 and gave the company a “buy” rating in a report on Thursday, July 25th. Finally, Citigroup increased their price objective on ServiceNow from $909.00 to $911.00 and gave the stock a “buy” rating in a research note on Wednesday, July 17th. One analyst has rated the stock with a sell rating, two have given a hold rating and twenty-five have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $880.04.

Read Our Latest Research Report on ServiceNow

ServiceNow Company Profile

(Free Report)

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.

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