Bridges Investment Management Inc. Trims Stock Holdings in ServiceNow, Inc. (NYSE:NOW)

Bridges Investment Management Inc. trimmed its position in ServiceNow, Inc. (NYSE:NOW - Free Report) by 2.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 66,228 shares of the information technology services provider's stock after selling 1,738 shares during the quarter. Bridges Investment Management Inc.'s holdings in ServiceNow were worth $52,727,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the company. Quarry LP bought a new position in ServiceNow during the fourth quarter valued at approximately $27,000. Atala Financial Inc bought a new position in ServiceNow during the fourth quarter valued at $28,000. WASHINGTON TRUST Co raised its position in ServiceNow by 620.0% in the 1st quarter. WASHINGTON TRUST Co now owns 36 shares of the information technology services provider's stock worth $29,000 after purchasing an additional 31 shares during the period. LFA Lugano Financial Advisors SA bought a new stake in ServiceNow in the fourth quarter worth about $32,000. Finally, Heck Capital Advisors LLC purchased a new position in shares of ServiceNow during the fourth quarter valued at approximately $37,000. Hedge funds and other institutional investors own 87.18% of the company's stock.

ServiceNow Trading Down 0.3%

Shares of NOW traded down $3.44 during midday trading on Wednesday, hitting $1,019.54. 143,239 shares of the stock were exchanged, compared to its average volume of 1,478,258. 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 firm has a market cap of $211.02 billion, a P/E ratio of 138.52, a P/E/G ratio of 4.75 and a beta of 0.94. ServiceNow, Inc. has a 52-week low of $678.66 and a 52-week high of $1,198.09. The stock has a fifty day simple moving average of $1,007.49 and a 200 day simple moving average of $962.22.

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

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on NOW shares. Raymond James Financial dropped their price objective on ServiceNow from $1,200.00 to $1,000.00 and set an "outperform" rating for the company in a report on Tuesday, April 8th. The Goldman Sachs Group reaffirmed a "buy" rating on shares of ServiceNow in a research note on Thursday, April 24th. Canaccord Genuity Group lowered their price objective on shares of ServiceNow from $1,275.00 to $900.00 and set a "buy" rating for the company in a research report on Tuesday, April 22nd. FBN Securities upgraded shares of ServiceNow to a "strong-buy" rating in a research note on Wednesday, June 11th. Finally, JMP Securities reissued a "market outperform" rating and issued a $1,300.00 price objective on shares of ServiceNow in a research note on Tuesday, May 6th. One research analyst has rated the stock with a sell rating, three have given a hold rating, thirty have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $1,068.23.

Insiders Place Their Bets

In other news, Director Anita M. Sands sold 428 shares of the business's stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $1,013.61, for a total value of $433,825.08. Following the transaction, the director owned 10,891 shares of the company's stock, 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 SEC, which is accessible through this hyperlink. Also, Director Deborah Black sold 598 shares of ServiceNow stock in a transaction on Friday, April 25th. The stock was sold at an average price of $940.23, for a total value of $562,257.54. Following the transaction, the director directly owned 428 shares of the company's stock, valued at approximately $402,418.44. This represents a 58.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 6,955 shares of company stock worth $6,862,195. Corporate insiders own 0.38% of the company's stock.

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.

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