Altus Wealth Group LLC Sells 394 Shares of ServiceNow, Inc. (NYSE:NOW)

Altus Wealth Group LLC lowered its position in ServiceNow, Inc. (NYSE:NOW - Free Report) by 13.9% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,450 shares of the information technology services provider's stock after selling 394 shares during the quarter. ServiceNow accounts for about 0.9% of Altus Wealth Group LLC's holdings, making the stock its 24th largest position. Altus Wealth Group LLC's holdings in ServiceNow were worth $1,951,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. GAMMA Investing LLC raised its stake in ServiceNow by 87,501.3% during the first quarter. GAMMA Investing LLC now owns 2,689,361 shares of the information technology services provider's stock worth $2,141,108,000 after acquiring an additional 2,686,291 shares in the last quarter. Norges Bank acquired a new stake in shares of ServiceNow in the 4th quarter valued at $2,603,360,000. Proficio Capital Partners LLC grew its holdings in shares of ServiceNow by 154,255.3% in the 4th quarter. Proficio Capital Partners LLC now owns 666,815 shares of the information technology services provider's stock worth $667,000 after purchasing an additional 666,383 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of ServiceNow by 6.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 7,955,924 shares of the information technology services provider's stock worth $8,434,235,000 after purchasing an additional 509,467 shares in the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its holdings in ServiceNow by 36.7% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 1,830,419 shares of the information technology services provider's stock valued at $1,940,464,000 after purchasing an additional 491,861 shares during the last quarter. 87.18% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at ServiceNow

In related news, insider Jacqueline P. Canney sold 354 shares of the business's stock in a transaction on Wednesday, April 16th. The stock was sold at an average price of $804.61, for a total value of $284,831.94. Following the completion of the sale, the insider now directly owns 3,027 shares in the company, valued at $2,435,554.47. The trade was a 10.47% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Anita M. Sands sold 428 shares of the company's stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $1,013.61, for a total transaction of $433,825.08. Following the completion of the transaction, the director now owns 10,891 shares in the company, valued at $11,039,226.51. This trade represents a 3.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 6,716 shares of company stock valued at $6,611,245 in the last quarter. 0.38% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

NOW has been the subject of a number of recent research reports. Piper Sandler dropped their target price on ServiceNow from $1,200.00 to $1,120.00 and set an "overweight" rating for the company in a research report on Thursday, April 24th. JMP Securities reissued a "market outperform" rating and issued a $1,300.00 target price on shares of ServiceNow in a research note on Tuesday, May 6th. Stifel Nicolaus raised their target price on ServiceNow from $975.00 to $1,050.00 and gave the stock a "buy" rating in a report on Tuesday, May 6th. Evercore ISI upped their price target on ServiceNow from $925.00 to $1,000.00 and gave the company an "outperform" rating in a research note on Thursday, April 24th. Finally, UBS Group reissued a "buy" rating and set a $1,025.00 price objective (up previously from $900.00) on shares of ServiceNow in a research note on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, thirty-one have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, ServiceNow presently has an average rating of "Moderate Buy" and a consensus price target of $1,065.32.

ServiceNow Stock Up 1.2%

Shares of NOW stock opened at $1,023.56 on Monday. ServiceNow, Inc. has a 52-week low of $678.66 and a 52-week high of $1,198.09. The stock has a market cap of $211.86 billion, a price-to-earnings ratio of 139.07, a PEG ratio of 4.70 and a beta of 0.96. The firm's 50-day moving average is $985.61 and its 200-day moving average is $964.70. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.12 and a current ratio of 1.12.

ServiceNow (NYSE:NOW - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The information technology services provider reported $4.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.78 by $0.26. ServiceNow had a return on equity of 17.34% and a net margin of 13.41%. The firm had revenue of $3.09 billion for the quarter, compared to analyst estimates of $3.09 billion. During the same quarter in the prior year, the company earned $3.41 earnings per share. The business's revenue for the quarter was up 18.6% compared to the same quarter last year. Sell-side analysts predict that ServiceNow, Inc. will post 8.93 EPS for the current 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.

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).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.