Bailard Inc. Sells 338 Shares of ServiceNow, Inc. (NYSE:NOW)

Bailard Inc. trimmed its stake in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 2.2% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 15,070 shares of the information technology services provider's stock after selling 338 shares during the quarter. Bailard Inc.'s holdings in ServiceNow were worth $11,998,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in NOW. GAMMA Investing LLC increased its position in shares of ServiceNow by 87,501.3% during the 1st quarter. GAMMA Investing LLC now owns 2,689,361 shares of the information technology services provider's stock valued at $2,141,108,000 after purchasing an additional 2,686,291 shares during the last quarter. Norges Bank bought a new position in shares of ServiceNow during the 4th quarter valued at about $2,603,360,000. OVERSEA CHINESE BANKING Corp Ltd increased its position in shares of ServiceNow by 1,586.5% during the 1st quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 933,209 shares of the information technology services provider's stock valued at $742,965,000 after purchasing an additional 877,875 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 valued at $8,434,235,000 after purchasing an additional 509,467 shares during the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its position in shares of 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.

ServiceNow Stock Up 1.0%

NOW stock opened at $966.78 on Thursday. The firm has a market cap of $200.10 billion, a PE ratio of 131.36, a price-to-earnings-growth ratio of 4.40 and a beta of 0.94. The business has a 50 day moving average of $1,007.21 and a 200 day moving average of $957.83. ServiceNow, Inc. has a twelve month low of $678.66 and a twelve month high of $1,198.09. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.15.

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 analysts' consensus estimates of $3.78 by $0.26. The business had revenue of $3.09 billion during the quarter, compared to analyst estimates of $3.09 billion. ServiceNow had a return on equity of 17.34% and a net margin of 13.41%. The company's quarterly revenue was up 18.6% compared to the same quarter last year. During the same quarter last year, the company earned $3.41 EPS. On average, research analysts forecast that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

Insiders Place Their Bets

In other ServiceNow news, CEO William R. Mcdermott sold 2,050 shares of ServiceNow stock in a transaction on Friday, May 30th. The stock was sold at an average price of $1,012.01, for a total value of $2,074,620.50. Following the completion of the sale, the chief executive officer owned 6,614 shares of the company's stock, valued at approximately $6,693,434.14. This trade represents a 23.66% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Russell S. Elmer sold 62 shares of ServiceNow stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $1,023.00, for a total value of $63,426.00. Following the completion of the sale, the general counsel directly owned 4,332 shares of the company's stock, valued at $4,431,636. The trade was a 1.41% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 6,601 shares of company stock worth $6,577,363. 0.38% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Piper Sandler reduced their price objective on 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. Morgan Stanley restated an "equal weight" rating on shares of ServiceNow in a report on Tuesday, July 8th. FBN Securities upgraded ServiceNow to a "strong-buy" rating in a report on Wednesday, June 11th. The Goldman Sachs Group restated a "buy" rating on shares of ServiceNow in a report on Thursday, April 24th. Finally, BMO Capital Markets raised their target price on ServiceNow from $1,025.00 to $1,150.00 and gave the stock an "outperform" rating in a research note on Wednesday, May 14th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, thirty-one have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, ServiceNow presently has a consensus rating of "Moderate Buy" and an average price target of $1,073.13.

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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