Brown Advisory Inc. Sells 175,460 Shares of ServiceNow, Inc. (NYSE:NOW)

Brown Advisory Inc. lessened its holdings in ServiceNow, Inc. (NYSE:NOW - Free Report) by 12.1% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,277,277 shares of the information technology services provider's stock after selling 175,460 shares during the quarter. ServiceNow accounts for approximately 1.5% of Brown Advisory Inc.'s investment portfolio, making the stock its 14th biggest position. Brown Advisory Inc. owned about 0.62% of ServiceNow worth $1,016,890,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Brighton Jones LLC lifted its stake in shares of ServiceNow by 1.1% in the 4th quarter. Brighton Jones LLC now owns 2,753 shares of the information technology services provider's stock valued at $2,919,000 after acquiring an additional 30 shares during the last quarter. Proficio Capital Partners LLC increased its position in ServiceNow by 154,255.3% in the 4th quarter. Proficio Capital Partners LLC now owns 666,815 shares of the information technology services provider's stock valued at $667,000 after buying an additional 666,383 shares in the last quarter. Ashton Thomas Private Wealth LLC boosted its stake in ServiceNow by 99.8% during the 4th quarter. Ashton Thomas Private Wealth LLC now owns 875 shares of the information technology services provider's stock valued at $928,000 after purchasing an additional 437 shares during the last quarter. Larson Financial Group LLC boosted its stake in ServiceNow by 7.3% during the 4th quarter. Larson Financial Group LLC now owns 440 shares of the information technology services provider's stock valued at $466,000 after purchasing an additional 30 shares during the last quarter. Finally, OFI Invest Asset Management acquired a new position in ServiceNow during the 4th quarter valued at about $2,345,000. Institutional investors and hedge funds own 87.18% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. 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 note on Thursday, April 24th. Citigroup lifted their price target on ServiceNow from $1,128.00 to $1,160.00 and gave the company a "buy" rating in a research note on Wednesday, May 7th. Wall Street Zen downgraded ServiceNow from a "buy" rating to a "hold" rating in a research note on Saturday. Erste Group Bank upgraded ServiceNow from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, April 30th. Finally, Stifel Nicolaus boosted their target price on ServiceNow from $975.00 to $1,050.00 and gave the stock a "buy" rating in a research note on Tuesday, May 6th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, thirty have assigned a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, ServiceNow has a consensus rating of "Moderate Buy" and an average price target of $1,068.23.

Insider Buying and Selling at ServiceNow

In other ServiceNow news, insider Jacqueline P. Canney sold 145 shares of the business's stock in a transaction on Friday, May 30th. The shares were sold at an average price of $1,020.00, for a total transaction of $147,900.00. Following the sale, the insider owned 3,027 shares of the company's stock, valued at $3,087,540. The trade was a 4.57% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, General Counsel Russell S. Elmer sold 62 shares of the business's stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $1,023.00, for a total transaction of $63,426.00. Following the sale, the general counsel directly owned 4,332 shares in the company, valued at $4,431,636. The trade was a 1.41% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 6,955 shares of company stock worth $6,862,195. Company insiders own 0.38% of the company's stock.

ServiceNow Stock Performance

NOW stock traded down $8.78 during midday trading on Wednesday, reaching $1,014.20. 306,813 shares of the company's stock traded hands, compared to its average volume of 1,478,853. The company has a 50-day moving average price of $1,007.49 and a two-hundred day moving average price of $962.22. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.12 and a current ratio of 1.12. ServiceNow, Inc. has a 52 week low of $678.66 and a 52 week high of $1,198.09. The firm has a market capitalization of $209.92 billion, a PE ratio of 137.68, a price-to-earnings-growth ratio of 4.75 and a beta of 0.94.

ServiceNow (NYSE:NOW - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The information technology services provider reported $4.04 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.78 by $0.26. ServiceNow had a net margin of 13.41% and a return on equity of 17.34%. The business had revenue of $3.09 billion for the quarter, compared to analysts' expectations of $3.09 billion. During the same quarter in the previous year, the firm posted $3.41 EPS. The business's revenue for the quarter was up 18.6% compared to the same quarter last year. As a group, equities analysts anticipate that ServiceNow, Inc. will post 8.93 EPS for the current year.

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.