GHP Investment Advisors Inc. Sells 37 Shares of ServiceNow, Inc. (NYSE:NOW)

GHP Investment Advisors Inc. reduced its stake in ServiceNow, Inc. (NYSE:NOW) by 28.7% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 92 shares of the information technology services provider’s stock after selling 37 shares during the quarter. GHP Investment Advisors Inc.’s holdings in ServiceNow were worth $72,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Creekmur Asset Management LLC bought a new position in shares of ServiceNow during the first quarter worth about $25,000. Versant Capital Management Inc boosted its position in ServiceNow by 466.7% during the 2nd quarter. Versant Capital Management Inc now owns 34 shares of the information technology services provider’s stock worth $27,000 after acquiring an additional 28 shares during the last quarter. University of Texas Texas AM Investment Managment Co. bought a new position in shares of ServiceNow during the 4th quarter worth approximately $29,000. EntryPoint Capital LLC raised its holdings in shares of ServiceNow by 3,900.0% in the first quarter. EntryPoint Capital LLC now owns 40 shares of the information technology services provider’s stock valued at $30,000 after purchasing an additional 39 shares during the last quarter. Finally, Ridgewood Investments LLC bought a new stake in shares of ServiceNow in the second quarter worth $32,000. 87.18% of the stock is owned by institutional investors and hedge funds.

ServiceNow Trading Down 0.8 %

Shares of ServiceNow stock opened at $878.95 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 50-day moving average of $807.22 and a 200-day moving average of $766.50. ServiceNow, Inc. has a 52-week low of $527.24 and a 52-week high of $889.52. The stock has a market cap of $181.06 billion, a PE ratio of 94.01, a PEG ratio of 5.25 and a beta of 0.98.

ServiceNow (NYSE:NOW) last announced its earnings results on Wednesday, July 24th. The information technology services provider reported $3.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.85 by $0.28. ServiceNow had a net margin of 11.51% and a return on equity of 14.52%. The firm had revenue of $2.63 billion for the quarter, compared to analyst estimates of $2.61 billion. During the same quarter in the prior year, the business posted $0.77 EPS. The business’s revenue was up 22.2% compared to the same quarter last year. As a group, sell-side analysts forecast that ServiceNow, Inc. will post 6.78 EPS for the current year.

Insiders Place Their Bets

In other news, insider Paul John Smith sold 187 shares of the company’s stock in a transaction 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 completion of the sale, the insider now directly owns 3,779 shares in the company, valued at approximately $3,006,496.82. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, insider Paul John Smith sold 187 shares of the business’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $795.58, for a total value of $148,773.46. Following the completion of the transaction, the insider now owns 3,779 shares of the company’s stock, valued at $3,006,496.82. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Nicholas Tzitzon sold 1,857 shares of the stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $829.68, for a total transaction of $1,540,715.76. Following the sale, the insider now owns 3,649 shares in the company, valued at $3,027,502.32. 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 in the last 90 days. Company insiders own 0.25% of the company’s stock.

Analysts Set New Price Targets

NOW has been the subject of a number of analyst reports. BMO Capital Markets raised their target price on shares of ServiceNow from $830.00 to $860.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Stifel Nicolaus raised 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. Guggenheim reiterated a “sell” rating and set a $640.00 target price on shares of ServiceNow in a report on Monday, July 8th. JPMorgan Chase & Co. raised their price target on ServiceNow from $780.00 to $820.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th. Finally, Royal Bank of Canada boosted their price target on ServiceNow from $850.00 to $880.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-five have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $849.62.

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.