AMI Asset Management Corp Sells 656 Shares of ServiceNow, Inc. (NYSE:NOW)

AMI Asset Management Corp reduced its stake in ServiceNow, Inc. (NYSE:NOW - Free Report) by 2.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,128 shares of the information technology services provider's stock after selling 656 shares during the period. AMI Asset Management Corp's holdings in ServiceNow were worth $17,617,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Brighton Jones LLC lifted its position in shares of ServiceNow by 1.1% in the 4th quarter. Brighton Jones LLC now owns 2,753 shares of the information technology services provider's stock worth $2,919,000 after purchasing an additional 30 shares during the period. IFP Advisors Inc lifted its position in shares of ServiceNow by 11.8% in the 4th quarter. IFP Advisors Inc now owns 1,949 shares of the information technology services provider's stock worth $2,065,000 after purchasing an additional 206 shares during the period. Rothschild Investment LLC lifted its position in shares of ServiceNow by 7.1% in the 4th quarter. Rothschild Investment LLC now owns 348 shares of the information technology services provider's stock worth $369,000 after purchasing an additional 23 shares during the period. Pine Valley Investments Ltd Liability Co purchased a new stake in shares of ServiceNow in the 4th quarter worth approximately $219,000. Finally, FFT Wealth Management LLC lifted its position in shares of ServiceNow by 10.1% in the 4th quarter. FFT Wealth Management LLC now owns 1,109 shares of the information technology services provider's stock worth $1,176,000 after purchasing an additional 102 shares during the period. 87.18% of the stock is currently owned by institutional investors.

ServiceNow Stock Performance

NYSE:NOW opened at $1,005.95 on Thursday. ServiceNow, Inc. has a twelve month low of $678.66 and a twelve month high of $1,198.09. The company has a market cap of $208.21 billion, a P/E ratio of 136.68, a P/E/G ratio of 4.58 and a beta of 0.95. The company's 50-day moving average price is $975.77 and its 200-day moving average price is $968.70. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.15.

ServiceNow (NYSE:NOW - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The information technology services provider reported $4.04 earnings per share for the quarter, beating analysts' consensus estimates of $3.78 by $0.26. ServiceNow had a net margin of 13.41% and a return on equity of 17.34%. The business had revenue of $3.09 billion during the quarter, compared to analysts' expectations of $3.09 billion. During the same period last year, the business earned $3.41 earnings per share. The business's revenue for the quarter was up 18.6% on a year-over-year basis. On average, sell-side analysts forecast that ServiceNow, Inc. will post 8.93 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. Raymond James Financial lowered their price target on shares of ServiceNow from $1,200.00 to $1,000.00 and set an "outperform" rating for the company in a research report on Tuesday, April 8th. Bank of America decreased their target price on shares of ServiceNow from $1,280.00 to $1,025.00 and set a "buy" rating for the company in a research report on Tuesday, April 15th. Guggenheim increased their target price on shares of ServiceNow from $716.00 to $724.00 and gave the company a "sell" rating in a research report on Thursday, April 24th. BMO Capital Markets increased their target price on shares of ServiceNow from $1,025.00 to $1,150.00 and gave the company an "outperform" rating in a research report on Wednesday, May 14th. Finally, Cantor Fitzgerald reissued an "overweight" rating and set a $1,048.00 target price on shares of ServiceNow in a research report on Thursday, April 24th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, thirty have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $1,065.32.

Insider Buying and Selling at ServiceNow

In related news, Director Anita M. Sands sold 428 shares of ServiceNow stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $1,013.61, for a total value of $433,825.08. Following the completion of the transaction, the director now owns 10,891 shares in the company, valued at approximately $11,039,226.51. The trade was a 3.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO William R. Mcdermott sold 2,050 shares of ServiceNow stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $1,012.01, for a total transaction of $2,074,620.50. Following the completion of the transaction, the chief executive officer now owns 6,614 shares of the company's stock, valued at $6,693,434.14. This trade represents a 23.66% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 6,716 shares of company stock worth $6,611,245 over the last three months. Insiders own 0.38% of the company's stock.

ServiceNow 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.

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