Annex Advisory Services LLC Sells 21,131 Shares of ServiceNow, Inc. (NYSE:NOW)

Annex Advisory Services LLC trimmed its holdings in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 96.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 816 shares of the information technology services provider's stock after selling 21,131 shares during the quarter. Annex Advisory Services LLC's holdings in ServiceNow were worth $650,000 at the end of the most recent reporting period.

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

Wall Street Analyst Weigh In

Several analysts recently commented on NOW shares. Piper Sandler decreased their price target on shares of ServiceNow from $1,200.00 to $1,120.00 and set an "overweight" rating for the company in a report on Thursday, April 24th. Barclays set a $1,085.00 price objective on shares of ServiceNow in a research report on Wednesday, May 7th. Truist Financial raised shares of ServiceNow from a "hold" rating to a "buy" rating and boosted their price target for the company from $950.00 to $1,200.00 in a report on Thursday, May 1st. Guggenheim increased their price target on ServiceNow from $716.00 to $724.00 and gave the company a "sell" rating in a research report on Thursday, April 24th. Finally, Sanford C. Bernstein reissued an "outperform" rating and set a $1,003.00 target price on shares of ServiceNow in a report on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, thirty have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $1,062.50.

Insiders Place Their Bets

In other news, insider Jacqueline P. Canney sold 354 shares of the firm's stock in a transaction dated Wednesday, April 16th. The stock was sold at an average price of $804.61, for a total transaction 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. This trade represents a 10.47% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Vice Chairman Nicholas Tzitzon sold 1,171 shares of ServiceNow stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $1,020.00, for a total value of $1,194,420.00. Following the completion of the transaction, the insider now owns 3,000 shares of the company's stock, valued at approximately $3,060,000. The trade was a 28.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 6,716 shares of company stock valued at $6,611,245. Insiders own 0.38% of the company's stock.

ServiceNow Stock Up 1.3%

Shares of ServiceNow stock traded up $13.10 on Friday, reaching $1,030.70. The company's stock had a trading volume of 956,231 shares, compared to its average volume of 1,483,332. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.15. ServiceNow, Inc. has a 52 week low of $678.66 and a 52 week high of $1,198.09. The company has a market capitalization of $213.34 billion, a price-to-earnings ratio of 150.91, a P/E/G ratio of 4.51 and a beta of 0.95. The firm's fifty day simple moving average is $915.04 and its two-hundred day simple moving average is $974.91.

ServiceNow (NYSE:NOW - Get Free Report) last posted its quarterly earnings data 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 net margin of 12.97% and a return on equity of 17.11%. The company had revenue of $3.09 billion during the quarter, compared to analyst estimates of $3.09 billion. During the same period in the previous year, the firm earned $3.41 earnings per share. ServiceNow's quarterly revenue was up 18.6% compared to the same quarter last year. Equities analysts anticipate that ServiceNow, Inc. will post 8.93 earnings per share 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.