Accurate Wealth Management LLC Decreases Stock Position in ServiceNow, Inc. (NYSE:NOW)

Accurate Wealth Management LLC lessened its holdings in ServiceNow, Inc. (NYSE:NOW - Free Report) by 79.4% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 324 shares of the information technology services provider's stock after selling 1,249 shares during the quarter. Accurate Wealth Management LLC's holdings in ServiceNow were worth $255,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Quarry LP bought a new stake in shares of ServiceNow during the 4th quarter worth approximately $27,000. Atala Financial Inc bought a new stake in ServiceNow during the fourth quarter worth $28,000. LFA Lugano Financial Advisors SA acquired a new stake in shares of ServiceNow in the 4th quarter valued at $32,000. FPC Investment Advisory Inc. increased its stake in shares of ServiceNow by 725.0% in the 4th quarter. FPC Investment Advisory Inc. now owns 33 shares of the information technology services provider's stock valued at $34,000 after purchasing an additional 29 shares during the last quarter. Finally, Noble Wealth Management PBC acquired a new position in shares of ServiceNow during the 4th quarter worth $34,000. 87.18% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on NOW. Guggenheim lifted their target price on ServiceNow from $716.00 to $724.00 and gave the company a "sell" rating in a research report on Thursday, April 24th. Truist Financial upgraded shares of ServiceNow from a "hold" rating to a "buy" rating and lifted their target price for the stock from $950.00 to $1,200.00 in a research report on Thursday, May 1st. TD Securities reissued a "buy" rating and issued a $1,100.00 price target on shares of ServiceNow in a research note on Thursday, April 24th. Stifel Nicolaus lifted their target price on shares of ServiceNow from $975.00 to $1,050.00 and gave the stock a "buy" rating in a research note on Tuesday, May 6th. Finally, Redburn Atlantic started coverage on ServiceNow in a research note on Wednesday, February 19th. They issued a "buy" rating on the stock. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, twenty-nine have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $1,062.50.

ServiceNow Stock Performance

NOW stock traded up $1.70 during midday trading on Thursday, reaching $1,006.03. 846,899 shares of the company's stock traded hands, compared to its average volume of 1,480,444. The firm has a market capitalization of $208.23 billion, a PE ratio of 147.30, a price-to-earnings-growth ratio of 4.51 and a beta of 0.95. The company has a 50-day moving average price of $933.88 and a two-hundred day moving average price of $974.34. ServiceNow, Inc. has a 52 week low of $678.66 and a 52 week high of $1,198.09. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.10 and a current ratio of 1.10.

ServiceNow (NYSE:NOW - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The information technology services provider reported $4.04 EPS for the quarter, topping the consensus estimate of $3.78 by $0.26. ServiceNow had a return on equity of 17.11% and a net margin of 12.97%. The business had revenue of $3.09 billion during the quarter, compared to the consensus estimate of $3.09 billion. During the same quarter last year, the company earned $3.41 EPS. The firm's revenue was up 18.6% compared to the same quarter last year. As a group, equities analysts anticipate that ServiceNow, Inc. will post 8.93 EPS for the current year.

Insiders Place Their Bets

In other ServiceNow news, Director Anita M. Sands sold 248 shares of ServiceNow stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $1,009.14, for a total transaction of $250,266.72. Following the completion of the sale, the director now directly owns 10,643 shares in the company, valued at $10,740,277.02. The trade was a 2.28% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Jacqueline P. Canney sold 354 shares of the stock in a transaction on Wednesday, April 16th. The shares were sold at an average price of $804.61, for a total value of $284,831.94. Following the completion of the transaction, the insider now directly owns 3,027 shares in the company, valued at approximately $2,435,554.47. This represents a 10.47% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 6,716 shares of company stock worth $6,611,245 in the last three months. 0.38% of the stock is currently owned by corporate insiders.

ServiceNow Company Profile

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.