Capital Investment Services of America Inc. Has $29.15 Million Stock Position in ServiceNow, Inc. (NYSE:NOW)

Capital Investment Services of America Inc. cut its holdings in ServiceNow, Inc. (NYSE:NOW - Free Report) by 2.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 36,610 shares of the information technology services provider's stock after selling 793 shares during the quarter. ServiceNow makes up approximately 3.0% of Capital Investment Services of America Inc.'s holdings, making the stock its 10th largest holding. Capital Investment Services of America Inc.'s holdings in ServiceNow were worth $29,147,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. Tritonpoint Wealth LLC grew its stake in shares of ServiceNow by 281.5% in the first quarter. Tritonpoint Wealth LLC now owns 2,964 shares of the information technology services provider's stock worth $2,360,000 after purchasing an additional 2,187 shares during the last quarter. Matauro LLC purchased a new stake in ServiceNow in the first quarter worth about $599,000. Stock Yards Bank & Trust Co. lifted its holdings in ServiceNow by 79.7% in the first quarter. Stock Yards Bank & Trust Co. now owns 496 shares of the information technology services provider's stock worth $395,000 after buying an additional 220 shares during the period. Salem Investment Counselors Inc. lifted its holdings in ServiceNow by 0.6% in the first quarter. Salem Investment Counselors Inc. now owns 4,161 shares of the information technology services provider's stock worth $3,313,000 after buying an additional 23 shares during the period. Finally, Argus Investors Counsel Inc. lifted its holdings in ServiceNow by 807.4% in the first quarter. Argus Investors Counsel Inc. now owns 1,724 shares of the information technology services provider's stock worth $1,373,000 after buying an additional 1,534 shares during the period. 87.18% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, Director Anita M. Sands sold 248 shares of the business's stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $1,009.14, for a total transaction of $250,266.72. Following the completion of the sale, the director now owns 10,643 shares of the company's stock, valued at $10,740,277.02. The trade was a 2.28% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Jacqueline P. Canney sold 66 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 $67,518.00. Following the sale, the insider now directly owns 3,027 shares of the company's stock, valued at approximately $3,096,621. The trade was a 2.13% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 6,716 shares of company stock valued at $6,611,245. Company insiders own 0.38% of the company's stock.

ServiceNow Stock Performance

NYSE:NOW traded down $19.66 during trading hours on Friday, reaching $987.71. The company had a trading volume of 1,332,159 shares, compared to its average volume of 1,483,399. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.15. ServiceNow, Inc. has a 52 week low of $678.66 and a 52 week high of $1,198.09. The firm has a market cap of $204.44 billion, a price-to-earnings ratio of 144.61, a PEG ratio of 4.51 and a beta of 0.95. The firm's 50 day moving average price is $944.56 and its 200-day moving average price is $972.97.

ServiceNow (NYSE:NOW - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The information technology services provider reported $4.04 EPS for the quarter, topping analysts' consensus estimates of $3.78 by $0.26. ServiceNow had a net margin of 12.97% and a return on equity of 17.11%. The business had revenue of $3.09 billion during the quarter, compared to the consensus estimate of $3.09 billion. During the same quarter in the previous year, the firm posted $3.41 EPS. The firm's revenue was up 18.6% on a year-over-year basis. On average, analysts forecast that ServiceNow, Inc. will post 8.93 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Piper Sandler lowered their price objective on shares of ServiceNow from $1,200.00 to $1,120.00 and set an "overweight" rating for the company in a report on Thursday, April 24th. Guggenheim raised their price objective on shares of ServiceNow from $716.00 to $724.00 and gave the stock a "sell" rating in a report on Thursday, April 24th. Wells Fargo & Company raised their price objective on shares of ServiceNow from $1,100.00 to $1,150.00 and gave the stock an "overweight" rating in a report on Thursday, April 24th. Oppenheimer restated an "outperform" rating and issued a $1,100.00 price objective (up from $970.00) on shares of ServiceNow in a report on Tuesday, May 6th. Finally, Jefferies Financial Group lowered their target price on shares of ServiceNow from $1,250.00 to $1,025.00 and set a "buy" rating for the company in a report on Tuesday, April 15th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-nine have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, ServiceNow has an average rating of "Moderate Buy" and an average price target of $1,062.50.

ServiceNow 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.