Beacon Investment Advisory Services Inc. Trims Holdings in ServiceNow, Inc. (NYSE:NOW)

Beacon Investment Advisory Services Inc. cut its stake in ServiceNow, Inc. (NYSE:NOW - Free Report) by 13.9% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,624 shares of the information technology services provider's stock after selling 423 shares during the period. Beacon Investment Advisory Services Inc.'s holdings in ServiceNow were worth $2,089,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of NOW. Bogart Wealth LLC lifted its stake in shares of ServiceNow by 113.3% during the first quarter. Bogart Wealth LLC now owns 32 shares of the information technology services provider's stock worth $25,000 after buying an additional 17 shares during the period. Graybill Wealth Management LTD. purchased a new position in ServiceNow in the 1st quarter worth $26,000. Quarry LP acquired a new stake in ServiceNow during the 4th quarter worth about $27,000. WASHINGTON TRUST Co grew its stake in ServiceNow by 620.0% during the 1st quarter. WASHINGTON TRUST Co now owns 36 shares of the information technology services provider's stock valued at $29,000 after purchasing an additional 31 shares during the last quarter. Finally, Heck Capital Advisors LLC acquired a new position in shares of ServiceNow in the fourth quarter valued at about $37,000. 87.18% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at ServiceNow

In other news, Director Anita M. Sands sold 239 shares of ServiceNow stock in a transaction that occurred on Thursday, July 3rd. The shares were sold at an average price of $1,050.00, for a total transaction of $250,950.00. Following the sale, the director owned 10,404 shares of the company's stock, valued at approximately $10,924,200. The trade was a 2.25% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jacqueline P. Canney sold 145 shares of the company's 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 $147,900.00. Following the completion of the transaction, the insider owned 3,027 shares in the company, valued at $3,087,540. This represents a 4.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 6,601 shares of company stock valued at $6,577,363 in the last three months. 0.38% of the stock is currently owned by corporate insiders.

ServiceNow Price Performance

Shares of NOW stock traded up $41.69 during trading hours on Thursday, reaching $998.12. The company had a trading volume of 4,060,791 shares, compared to its average volume of 1,286,154. ServiceNow, Inc. has a 12-month low of $678.66 and a 12-month high of $1,198.09. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.12 and a current ratio of 1.12. The company has a market capitalization of $206.59 billion, a price-to-earnings ratio of 125.71, a PEG ratio of 4.39 and a beta of 0.94. The stock has a fifty day moving average of $1,002.51 and a 200-day moving average of $954.31.

ServiceNow (NYSE:NOW - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The information technology services provider reported $4.09 earnings per share for the quarter, topping analysts' consensus estimates of $3.57 by $0.52. ServiceNow had a return on equity of 18.62% and a net margin of 13.78%. The company had revenue of $3.22 billion for the quarter, compared to analyst estimates of $3.12 billion. During the same quarter in the previous year, the company posted $3.13 earnings per share. The firm's revenue for the quarter was up 22.4% compared to the same quarter last year. On average, equities analysts anticipate that ServiceNow, Inc. will post 8.93 earnings per share for the current year.

Wall Street Analyst Weigh In

NOW has been the subject of a number of research reports. Piper Sandler lifted their target price on ServiceNow from $1,120.00 to $1,150.00 and gave the stock an "overweight" rating in a report on Thursday. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $1,200.00 price objective on shares of ServiceNow in a report on Thursday. DA Davidson raised their target price on shares of ServiceNow from $1,150.00 to $1,250.00 and gave the stock a "buy" rating in a report on Thursday. JPMorgan Chase & Co. decreased their target price on shares of ServiceNow from $1,200.00 to $970.00 and set an "overweight" rating for the company in a research report on Tuesday, April 22nd. Finally, BMO Capital Markets increased their price target on ServiceNow from $1,150.00 to $1,160.00 and gave the stock an "outperform" rating in a research report on Thursday. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, ServiceNow currently has a consensus rating of "Moderate Buy" and an average price target of $1,107.94.

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.