Clare Market Investments LLC Trims Stock Position in ServiceNow, Inc. (NYSE:NOW)

Clare Market Investments LLC decreased its position in ServiceNow, Inc. (NYSE:NOW - Free Report) by 16.5% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,573 shares of the information technology services provider's stock after selling 510 shares during the quarter. Clare Market Investments LLC's holdings in ServiceNow were worth $2,048,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Quarry LP purchased a new stake in shares of ServiceNow in the 4th quarter worth $27,000. Atala Financial Inc bought a new stake in ServiceNow during the fourth quarter valued at about $28,000. LFA Lugano Financial Advisors SA purchased a new stake in ServiceNow in the fourth quarter worth about $32,000. FPC Investment Advisory Inc. raised its stake in shares of ServiceNow by 725.0% in the fourth quarter. FPC Investment Advisory Inc. now owns 33 shares of the information technology services provider's stock worth $34,000 after buying an additional 29 shares during the period. Finally, Noble Wealth Management PBC purchased a new position in shares of ServiceNow during the 4th quarter valued at about $34,000. 87.18% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have commented on NOW. Citigroup raised their target price on shares of ServiceNow from $1,128.00 to $1,160.00 and gave the stock a "buy" rating in a research note on Wednesday, May 7th. Cantor Fitzgerald reissued an "overweight" rating and issued a $1,048.00 price objective on shares of ServiceNow in a research note on Thursday, April 24th. Robert W. Baird lifted their target price on shares of ServiceNow from $1,010.00 to $1,150.00 and gave the company an "outperform" rating in a research note on Thursday, April 24th. The Goldman Sachs Group reiterated a "buy" rating on shares of ServiceNow in a research note on Thursday, April 24th. Finally, William Blair reissued an "outperform" rating on shares of ServiceNow in a report on Friday, March 7th. One research analyst has rated the stock with a sell rating, two have given a hold rating, thirty have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $1,062.50.

Insider Buying and Selling

In related news, Vice Chairman Nicholas Tzitzon sold 1,171 shares of the firm's stock in a transaction that occurred on Friday, May 30th. The stock was sold at an average price of $1,020.00, for a total transaction of $1,194,420.00. Following the completion of the sale, the insider now directly owns 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Anita M. Sands sold 428 shares of the company's stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $1,013.61, for a total value of $433,825.08. Following the completion of the transaction, the director now directly owns 10,891 shares in the company, valued at $11,039,226.51. This trade represents a 3.78% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 6,716 shares of company stock worth $6,611,245 over the last three months. 0.38% of the stock is owned by insiders.

ServiceNow Trading Up 0.5%

Shares of NYSE:NOW traded up $5.07 during trading on Thursday, reaching $1,017.81. The company's stock had a trading volume of 902,286 shares, compared to its average volume of 1,485,137. The stock has a market capitalization of $210.67 billion, a PE ratio of 149.02, a price-to-earnings-growth ratio of 4.51 and a beta of 0.97. ServiceNow, Inc. has a 12 month low of $678.66 and a 12 month high of $1,198.09. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.15. The firm's 50 day simple moving average is $910.63 and its two-hundred day simple moving average is $974.82.

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

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.