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ServiceNow, Inc. (NYSE:NOW) stock position was decreased by Lake Street Advisors Group LLC

Lake Street Advisors Group LLC decreased its position in ServiceNow, Inc. (NYSE:NOW – Free Report) by 26.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,482 shares of the information technology services provider’s stock after selling 539 shares during the quarter. Lake Street Advisors Group LLC’s holdings in ServiceNow were worth $1,166,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of NOW. Norges Bank purchased a new stake in shares of ServiceNow in the fourth quarter valued at $1,648,259,000. Swedbank AB purchased a new stake in shares of ServiceNow in the first quarter valued at $897,908,000. Global Assets Advisory LLC purchased a new stake in shares of ServiceNow in the first quarter valued at $403,034,000. Vanguard Group Inc. raised its holdings in shares of ServiceNow by 1.8% in the first quarter. Vanguard Group Inc. now owns 18,450,570 shares of the information technology services provider’s stock valued at $14,066,715,000 after buying an additional 331,797 shares during the last quarter. Finally, AustralianSuper Pty Ltd purchased a new stake in shares of ServiceNow in the second quarter valued at $218,786,000. Institutional investors and hedge funds own 87.18% of the company’s shares.

ServiceNow Stock Performance

Shares of NYSE NOW opened at $825.04 on Friday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.12, and a current ratio of 1.12. The firm has a market cap of $169.13 billion, a price-to-earnings ratio of 88.24, a P/E/G ratio of 5.13 and a beta of 0.98. The company’s 50-day simple moving average is $799.33, and its 200-day simple moving average is $762.85. ServiceNow, Inc. it has a 52-week low of $527.24 and a 52-week high of $863.85.

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ServiceNow (NYSE:NOW – Get Your Free Report ) last issued its quarterly earnings data on Wednesday, July 24th. The information technology services provider reported $3.13 EPS for the quarter, topping analysts’ consensus estimates of $2.85 by $0.28. ServiceNow had a return on equity of 14.52% and a net margin of 11.51%. The company had revenue of $2.63 billion for the quarter, compared to analyst estimates of $2.61 billion. In the same quarter last year, the firm posted EPS of $0.77. The company’s revenue for the quarter was up 22.2% year-over-year. As a group, equities research analysts expect that ServiceNow, Inc. to post 6.78 earnings per share for the current fiscal year.

Internal activity at ServiceNow

In related news, CFO Gina Mastantuono sold 1,800 shares of the stock in a transaction that occurred 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 completion of the sale, the chief financial officer now owns 11,490 shares in the company, valued at approximately $9,479,250. The sale was disclosed in a filing with the SEC, which is available on the SEC’s website. In other ServiceNow news, Director Paul Edward Chamberlain sold 135 shares of the company’s stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $822.00, for a total value of $110,970.00. Following the completion of the sale, the director now owns 10,767 shares in the company, valued at approximately $8,850,474. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available via this hyperlink. Also, CFO Gina Mastantuono sold 1,800 shares of the firm’s 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 completion of the sale, the chief financial officer now owns 11,490 shares of the company’s stock, valued at approximately $9,479,250. The disclosure for this sale can be found here. Insiders have sold a total of 6,914 shares of company stock worth $5,608,936 over the last 90 days. 0.25% of shares are owned by company insiders.

Analyst upgrades and downgrades

Several equities research analysts recently commented on NOW shares. Wells Fargo & Company boosted their price target on ServiceNow from $920.00 to $935.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. Deutsche Bank Aktiengesellschaft boosted their price target on ServiceNow from $875.00 to $900.00 and gave the company a “buy” rating in a report on Thursday, July 25th. Royal Bank of Canada boosted their price target on ServiceNow from $850.00 to $880.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Citigroup boosted their price target on ServiceNow from $909.00 to $911.00 and gave the company a “buy” rating in a research report on Wednesday, July 17th. Finally, Piper Sandler boosted their price target on ServiceNow from $830.00 to $850.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and twenty-five have assigned a buy rating to the company. ServiceNow presently has an average rating of “Moderate Buy” and a consensus price target of $849.62, based on data from MarketBeat.

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ServiceNow Company Profile

(Free report)

ServiceNow, Inc provides end-to-end intelligent workflow automation platform solutions for digital businesses in North America, Europe, 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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Institutional Ownership by Quarter for ServiceNow (NYSE:NOW)

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