Axxcess Wealth Management LLC Reduces Stake in ServiceNow, Inc. (NYSE:NOW)

Axxcess Wealth Management LLC reduced its stake in ServiceNow, Inc. (NYSE:NOW - Free Report) by 99.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 750 shares of the information technology services provider's stock after selling 250,660 shares during the quarter. Axxcess Wealth Management LLC's holdings in ServiceNow were worth $597,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Cornerstone Planning Group LLC increased its holdings in shares of ServiceNow by 81.8% during the first quarter. Cornerstone Planning Group LLC now owns 120 shares of the information technology services provider's stock worth $98,000 after purchasing an additional 54 shares during the period. Linden Thomas Advisory Services LLC increased its holdings in shares of ServiceNow by 5.7% during the first quarter. Linden Thomas Advisory Services LLC now owns 5,353 shares of the information technology services provider's stock worth $4,262,000 after purchasing an additional 289 shares during the period. Greenleaf Trust boosted its position in shares of ServiceNow by 7.6% during the 1st quarter. Greenleaf Trust now owns 4,156 shares of the information technology services provider's stock worth $3,309,000 after acquiring an additional 295 shares in the last quarter. New Insight Wealth Advisors boosted its position in shares of ServiceNow by 41.2% during the 1st quarter. New Insight Wealth Advisors now owns 408 shares of the information technology services provider's stock worth $325,000 after acquiring an additional 119 shares in the last quarter. Finally, OMNI 360 Wealth Inc. acquired a new stake in shares of ServiceNow during the 1st quarter worth approximately $285,000. 87.18% of the stock is owned by institutional investors.

ServiceNow Stock Down 3.2%

Shares of NYSE:NOW traded down $30.97 during midday trading on Friday, hitting $937.12. 2,144,933 shares of the company's stock were exchanged, compared to its average volume of 1,486,117. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.12 and a quick ratio of 1.12. The stock has a 50 day moving average price of $1,008.08 and a 200-day moving average price of $959.58. The company has a market cap of $193.97 billion, a PE ratio of 127.33, a price-to-earnings-growth ratio of 4.31 and a beta of 0.94. ServiceNow, Inc. has a 12 month low of $678.66 and a 12 month high of $1,198.09.

ServiceNow (NYSE:NOW - Get Free Report) last posted 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. The company had revenue of $3.09 billion during the quarter, compared to the consensus estimate of $3.09 billion. ServiceNow had a net margin of 13.41% and a return on equity of 17.34%. The firm's revenue for the quarter was up 18.6% on a year-over-year basis. During the same period in the previous year, the firm posted $3.41 earnings per share. On average, sell-side analysts anticipate that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts recently issued reports on NOW shares. BMO Capital Markets increased their price target on shares of ServiceNow from $1,025.00 to $1,150.00 and gave the stock an "outperform" rating in a research report on Wednesday, May 14th. Piper Sandler reduced their price target on shares of ServiceNow from $1,200.00 to $1,120.00 and set an "overweight" rating on the stock in a research report on Thursday, April 24th. UBS Group reiterated a "buy" rating and set a $1,025.00 price target (up previously from $900.00) on shares of ServiceNow in a research report on Thursday, April 24th. Cantor Fitzgerald reiterated an "overweight" rating and set a $1,048.00 price target on shares of ServiceNow in a research report on Thursday, April 24th. Finally, FBN Securities upgraded shares of ServiceNow to a "strong-buy" rating in a research report on Wednesday, June 11th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, thirty-one have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $1,068.23.

Insider Buying and Selling at ServiceNow

In related news, Director Anita M. Sands sold 428 shares of the business'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 transaction, the director directly owned 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO William R. Mcdermott sold 2,050 shares of the business's stock in a transaction dated 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 owned 6,614 shares in the company, valued at approximately $6,693,434.14. The trade was a 23.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 6,955 shares of company stock valued at $6,862,195 in the last quarter. 0.38% of the stock is owned by company 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.