Beaumont Asset Management L.L.C. Trims Stock Holdings in ServiceNow, Inc. (NYSE:NOW)

Beaumont Asset Management L.L.C. cut its holdings in ServiceNow, Inc. (NYSE:NOW) by 0.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,126 shares of the information technology services provider’s stock after selling 35 shares during the period. ServiceNow comprises 2.6% of Beaumont Asset Management L.L.C.’s holdings, making the stock its 7th largest holding. Beaumont Asset Management L.L.C.’s holdings in ServiceNow were worth $3,621,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. International Assets Investment Management LLC boosted its stake in shares of ServiceNow by 2.7% during the 3rd quarter. International Assets Investment Management LLC now owns 1,183 shares of the information technology services provider’s stock worth $646,000 after purchasing an additional 31 shares during the period. Summit Global Investments purchased a new stake in shares of ServiceNow in the 3rd quarter worth approximately $209,000. Capital Investment Advisors LLC acquired a new position in ServiceNow during the 3rd quarter valued at approximately $459,000. Impact Partnership Wealth LLC increased its stake in ServiceNow by 672.7% during the 3rd quarter. Impact Partnership Wealth LLC now owns 85 shares of the information technology services provider’s stock valued at $48,000 after purchasing an additional 74 shares in the last quarter. Finally, Park Place Capital Corp increased its stake in ServiceNow by 9.2% during the 3rd quarter. Park Place Capital Corp now owns 1,149 shares of the information technology services provider’s stock valued at $642,000 after purchasing an additional 97 shares in the last quarter. 87.18% of the stock is currently owned by institutional investors.

Insider Activity at ServiceNow

In related news, insider Paul John Smith sold 1,180 shares of the business’s stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $767.12, for a total value of $905,201.60. Following the completion of the sale, the insider now directly owns 1,392 shares in the company, valued at approximately $1,067,831.04. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, CEO William R. Mcdermott sold 5,030 shares of the company’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $753.08, for a total value of $3,787,992.40. Following the completion of the transaction, the chief executive officer now directly owns 17,177 shares in the company, valued at $12,935,655.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Paul John Smith sold 1,180 shares of the company’s stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $767.12, for a total value of $905,201.60. Following the completion of the transaction, the insider now owns 1,392 shares of the company’s stock, valued at $1,067,831.04. The disclosure for this sale can be found here. In the last quarter, insiders sold 13,164 shares of company stock valued at $9,940,303. 0.25% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

NOW has been the topic of a number of recent analyst reports. UBS Group upped their price target on shares of ServiceNow from $885.00 to $920.00 and gave the company a “buy” rating in a research note on Monday, April 15th. JMP Securities reaffirmed a “market outperform” rating and issued a $825.00 price objective on shares of ServiceNow in a report on Tuesday. Oppenheimer increased their price target on shares of ServiceNow from $750.00 to $800.00 and gave the stock an “outperform” rating in a report on Thursday, January 18th. The Goldman Sachs Group increased their price target on shares of ServiceNow from $800.00 to $910.00 and gave the stock a “buy” rating in a report on Thursday, January 25th. Finally, Guggenheim reaffirmed a “neutral” rating on shares of ServiceNow in a report on Monday, April 15th. Three investment analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $780.37.

ServiceNow Stock Up 2.6 %

NYSE:NOW traded up $19.00 on Tuesday, hitting $740.95. 1,056,076 shares of the company’s stock traded hands, compared to its average volume of 1,175,074. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.20. ServiceNow, Inc. has a 1 year low of $427.68 and a 1 year high of $815.32. The firm has a 50-day moving average price of $762.90 and a 200-day moving average price of $705.19. The company has a market cap of $152.18 billion, a PE ratio of 88.25, a price-to-earnings-growth ratio of 4.51 and a beta of 0.97.

ServiceNow (NYSE:NOW) last released its earnings results on Wednesday, January 24th. The information technology services provider reported $3.11 earnings per share for the quarter, beating the consensus estimate of $2.77 by $0.34. ServiceNow had a return on equity of 11.85% and a net margin of 19.30%. The company had revenue of $2.44 billion for the quarter, compared to analysts’ expectations of $2.40 billion. During the same quarter in the previous year, the business posted $0.88 EPS. The business’s revenue for the quarter was up 25.6% on a year-over-year basis. Equities analysts anticipate that ServiceNow, Inc. will post 6.16 EPS for the current fiscal year.

About ServiceNow

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.