ServiceNow, Inc. (NYSE:NOW) Holdings Lowered by Brown Advisory Inc.

Brown Advisory Inc. lessened its position in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 12.1% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,277,277 shares of the information technology services provider's stock after selling 175,460 shares during the quarter. ServiceNow makes up about 1.5% of Brown Advisory Inc.'s holdings, 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.

Other institutional investors and hedge funds have also made changes to their positions in the company. Cassady Schiller Wealth Management LLC grew its holdings in shares of ServiceNow by 44.0% during the 4th quarter. Cassady Schiller Wealth Management LLC now owns 36 shares of the information technology services provider's stock worth $38,000 after purchasing an additional 11 shares during the period. Plancorp LLC grew its holdings in shares of ServiceNow by 4.1% during the 4th quarter. Plancorp LLC now owns 308 shares of the information technology services provider's stock worth $327,000 after purchasing an additional 12 shares during the period. Capital Investment Advisory Services LLC grew its holdings in shares of ServiceNow by 2.1% during the 1st quarter. Capital Investment Advisory Services LLC now owns 577 shares of the information technology services provider's stock worth $459,000 after purchasing an additional 12 shares during the period. Kesler Norman & Wride LLC grew its holdings in shares of ServiceNow by 1.2% during the 4th quarter. Kesler Norman & Wride LLC now owns 1,092 shares of the information technology services provider's stock worth $1,157,000 after purchasing an additional 13 shares during the period. Finally, Sepio Capital LP grew its holdings in shares of ServiceNow by 3.8% during the 4th quarter. Sepio Capital LP now owns 359 shares of the information technology services provider's stock worth $381,000 after purchasing an additional 13 shares during the period. 87.18% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at ServiceNow

In related news, Director Jonathan Chadwick sold 770 shares of the firm's stock in a transaction dated Monday, April 28th. The stock was sold at an average price of $931.62, for a total transaction of $717,347.40. Following the completion of the transaction, the director owned 3,205 shares of the company's stock, valued at $2,985,842.10. This trade represents a 19.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO William R. Mcdermott sold 2,050 shares of the firm's stock in a transaction dated Friday, May 30th. The shares were sold at an average price of $1,012.01, for a total value of $2,074,620.50. Following the transaction, the chief executive officer directly owned 6,614 shares of the company's stock, valued at $6,693,434.14. This represents a 23.66% 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 valued at $6,862,195. Corporate insiders own 0.38% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Piper Sandler decreased their target price on ServiceNow from $1,200.00 to $1,120.00 and set an "overweight" rating for the company in a report on Thursday, April 24th. UBS Group reiterated a "buy" rating and set a $1,025.00 target price (up previously from $900.00) on shares of ServiceNow in a report on Thursday, April 24th. The Goldman Sachs Group restated a "buy" rating on shares of ServiceNow in a report on Thursday, April 24th. Wells Fargo & Company upped their price target on ServiceNow from $1,100.00 to $1,150.00 and gave the company an "overweight" rating in a research report on Thursday, April 24th. Finally, Citigroup upped their price target on ServiceNow from $1,128.00 to $1,160.00 and gave the company a "buy" rating in a research report on Wednesday, May 7th. One 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. According to data from MarketBeat.com, ServiceNow has a consensus rating of "Moderate Buy" and an average price target of $1,068.23.

ServiceNow Stock Performance

Shares of NYSE:NOW traded down $30.97 on Friday, hitting $937.12. The company's stock had a trading volume of 2,144,933 shares, compared to its average volume of 1,483,800. ServiceNow, Inc. has a 12 month low of $678.66 and a 12 month high of $1,198.09. The company has a market capitalization of $193.97 billion, a price-to-earnings ratio of 127.33, a price-to-earnings-growth ratio of 4.45 and a beta of 0.94. The stock's 50-day moving average is $1,008.08 and its two-hundred day moving average is $960.59. 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 (NYSE:NOW - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The information technology services provider reported $4.04 earnings per share for the quarter, beating the consensus estimate of $3.78 by $0.26. ServiceNow had a return on equity of 17.34% and a net margin of 13.41%. The business had revenue of $3.09 billion during the quarter, compared to analysts' expectations of $3.09 billion. During the same quarter last year, the business posted $3.41 earnings per share. The company's quarterly revenue was up 18.6% on a year-over-year basis. On average, equities research analysts forecast that ServiceNow, Inc. will post 8.93 EPS for the current year.

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.