ServiceNow, Inc. (NYSE:NOW) Shares Sold by Sentry Investment Management LLC

by · The Markets Daily

Sentry Investment Management LLC reduced its position in shares of ServiceNow, Inc. (NYSE:NOW – Free Report) by 52.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,177 shares of the information technology services provider’s stock after selling 1,285 shares during the period. Sentry Investment Management LLC’s holdings in ServiceNow were worth $658,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. PFG Private Wealth Management LLC acquired a new stake in shares of ServiceNow during the 3rd quarter worth about $28,000. First Capital Advisors Group LLC. purchased a new position in shares of ServiceNow during the 2nd quarter worth about $29,000. High Net Worth Advisory Group LLC acquired a new stake in shares of ServiceNow in the first quarter worth approximately $29,000. Altshuler Shaham Ltd acquired a new stake in shares of ServiceNow in the second quarter worth approximately $30,000. Finally, Global Trust Asset Management LLC boosted its position in shares of ServiceNow by 1,425.0% in the second quarter. Global Trust Asset Management LLC now owns 61 shares of the information technology services provider’s stock worth $34,000 after acquiring an additional 57 shares during the last quarter. 87.14% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Paul John Smith sold 859 shares of the firm’s stock in a transaction on Tuesday, October 31st. The stock was sold at an average price of $582.63, for a total value of $500,479.17. Following the completion of the sale, the insider now directly owns 1,930 shares in the company, valued at $1,124,475.90. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, insider Paul John Smith sold 859 shares of the firm’s stock in a transaction dated Tuesday, October 31st. The stock was sold at an average price of $582.63, for a total value of $500,479.17. Following the transaction, the insider now owns 1,930 shares in the company, valued at $1,124,475.90. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Chirantan Jitendra Desai sold 3,150 shares of the firm’s stock in a transaction dated Friday, November 24th. The shares were sold at an average price of $671.84, for a total value of $2,116,296.00. Following the completion of the transaction, the chief operating officer now owns 38,904 shares in the company, valued at approximately $26,137,263.36. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 9,997 shares of company stock worth $6,496,675. 0.28% of the stock is owned by corporate insiders.

ServiceNow Stock Performance

Shares of NYSE NOW traded up $6.65 during trading hours on Monday, reaching $755.76. The stock had a trading volume of 909,418 shares, compared to its average volume of 1,003,727. The business’s fifty day moving average is $692.62 and its two-hundred day moving average is $613.61. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.08 and a quick ratio of 1.08. The company has a market cap of $154.93 billion, a price-to-earnings ratio of 98.77, a PEG ratio of 4.94 and a beta of 1.05. ServiceNow, Inc. has a twelve month low of $405.37 and a twelve month high of $766.81.

ServiceNow (NYSE:NOW – Get Free Report) last announced its earnings results on Wednesday, October 25th. The information technology services provider reported $1.21 earnings per share for the quarter, beating analysts’ consensus estimates of $0.89 by $0.32. ServiceNow had a return on equity of 12.25% and a net margin of 18.72%. The company had revenue of $2.29 billion during the quarter, compared to analyst estimates of $2.27 billion. As a group, research analysts expect that ServiceNow, Inc. will post 4.08 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Morgan Stanley raised their target price on shares of ServiceNow from $630.00 to $648.00 and gave the stock an “overweight” rating in a research report on Thursday, October 26th. Truist Financial raised their target price on shares of ServiceNow from $575.00 to $700.00 and gave the stock a “hold” rating in a research report on Tuesday, January 16th. Piper Sandler raised their target price on shares of ServiceNow from $600.00 to $620.00 and gave the stock an “overweight” rating in a research report on Thursday, October 26th. Royal Bank of Canada raised their target price on shares of ServiceNow from $665.00 to $680.00 and gave the stock an “outperform” rating in a research report on Thursday, November 9th. Finally, TheStreet raised shares of ServiceNow from a “c+” rating to a “b-” rating in a research report on Friday, December 8th. Two analysts have rated the stock with a hold rating and twenty-nine have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $646.39.

Get Our Latest Analysis on NOW

ServiceNow Profile

(Free Report)

ServiceNow, Inc provides enterprise cloud computing solutions that defines, structures, consolidates, manages, and automates services for enterprises worldwide. The company operates the Now platform for workflow automation, artificial intelligence, machine learning, robotic process automation, process mining, performance analytics, electronic service catalogs and portals, configuration management systems, data benchmarking, encryption, and collaboration and development tools.

Recommended Stories

Want to see what other hedge funds are holding NOW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ServiceNow, Inc. (NYSE:NOW – Free Report).