Brown Advisory Inc. Has $1.02 Billion Stock Position in ServiceNow, Inc. (NYSE:NOW)

Brown Advisory Inc. reduced its holdings in ServiceNow, Inc. (NYSE:NOW - Free Report) by 12.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,277,277 shares of the information technology services provider's stock after selling 175,460 shares during the period. ServiceNow makes up about 1.5% of Brown Advisory Inc.'s investment portfolio, making the stock its 14th largest position. Brown Advisory Inc. owned about 0.62% of ServiceNow worth $1,016,890,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of NOW. GAMMA Investing LLC lifted 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 worth $2,141,108,000 after buying an additional 2,686,291 shares during the period. Norges Bank bought a new stake in shares of ServiceNow in the 4th quarter worth about $2,603,360,000. Proficio Capital Partners LLC grew its holdings in shares of 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 worth $667,000 after purchasing an additional 666,383 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of ServiceNow by 6.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 7,955,924 shares of the information technology services provider's stock worth $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 boosted its position in ServiceNow by 36.7% in the fourth 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 buying an additional 491,861 shares in the last quarter. Institutional investors and hedge funds own 87.18% of the company's stock.

Insider Buying and Selling 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 value of $250,950.00. Following the sale, the director directly owned 10,404 shares in the company, valued at $10,924,200. This trade represents a 2.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Vice Chairman Nicholas Tzitzon sold 1,171 shares of the firm'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 $1,194,420.00. Following the completion of the transaction, the insider directly owned 3,000 shares of the company's stock, valued at approximately $3,060,000. This trade represents a 28.07% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 6,955 shares of company stock valued at $6,862,195 over the last quarter. 0.38% of the stock is currently owned by corporate insiders.

ServiceNow Stock Down 0.8%

Shares of NOW traded down $7.81 on Wednesday, hitting $1,015.17. The company's stock had a trading volume of 1,146,714 shares, compared to its average volume of 1,478,282. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.15. The firm's fifty day moving average price is $1,007.49 and its 200-day moving average price is $962.22. ServiceNow, Inc. has a fifty-two week low of $678.66 and a fifty-two week high of $1,198.09. The firm has a market capitalization of $210.12 billion, a price-to-earnings ratio of 137.93, a P/E/G ratio of 4.70 and a beta of 0.94.

ServiceNow (NYSE:NOW - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The information technology services provider reported $4.04 earnings per share 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 firm had revenue of $3.09 billion for the quarter, compared to analyst estimates of $3.09 billion. During the same quarter in the previous year, the firm posted $3.41 earnings per share. The business's revenue was up 18.6% on a year-over-year basis. On average, equities research analysts expect that ServiceNow, Inc. will post 8.93 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. Erste Group Bank upgraded shares of ServiceNow from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, April 30th. Raymond James Financial dropped their price target 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. UBS Group restated a "buy" rating and issued a $1,025.00 target price (up from $900.00) on shares of ServiceNow in a research note on Thursday, April 24th. Canaccord Genuity Group lowered their target price on ServiceNow from $1,275.00 to $900.00 and set a "buy" rating for the company in a research note on Tuesday, April 22nd. Finally, DA Davidson began coverage on shares of ServiceNow in a report on Wednesday, June 25th. They set a "buy" rating and a $1,150.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, thirty have given a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $1,068.23.

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.