Congress Asset Management Co. Sells 568 Shares of ServiceNow, Inc. (NYSE:NOW)

Congress Asset Management Co. lessened its holdings in ServiceNow, Inc. (NYSE:NOW - Free Report) by 0.3% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 177,159 shares of the information technology services provider's stock after selling 568 shares during the quarter. ServiceNow makes up 1.1% of Congress Asset Management Co.'s holdings, making the stock its 24th largest holding. Congress Asset Management Co. owned about 0.09% of ServiceNow worth $141,044,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the business. Evexia Wealth LLC grew its position in ServiceNow by 5.9% in the 1st quarter. Evexia Wealth LLC now owns 374 shares of the information technology services provider's stock valued at $309,000 after acquiring an additional 21 shares during the last quarter. SeaCrest Wealth Management LLC grew its position in shares of ServiceNow by 3.9% during the 1st quarter. SeaCrest Wealth Management LLC now owns 2,972 shares of the information technology services provider's stock worth $2,366,000 after buying an additional 111 shares in the last quarter. Sandbox Financial Partners LLC grew its position in shares of ServiceNow by 9.4% during the 1st quarter. Sandbox Financial Partners LLC now owns 812 shares of the information technology services provider's stock worth $646,000 after buying an additional 70 shares in the last quarter. Procyon Advisors LLC grew its position in shares of ServiceNow by 5.2% during the 1st quarter. Procyon Advisors LLC now owns 2,203 shares of the information technology services provider's stock worth $1,754,000 after buying an additional 108 shares in the last quarter. Finally, Magnus Financial Group LLC grew its position in shares of ServiceNow by 2.7% during the 1st quarter. Magnus Financial Group LLC now owns 527 shares of the information technology services provider's stock worth $420,000 after buying an additional 14 shares in the last quarter. Institutional investors own 87.18% of the company's stock.

ServiceNow Stock Up 1.3%

Shares of NOW opened at $1,030.70 on Friday. 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 12 month low of $678.66 and a 12 month high of $1,198.09. The stock's 50 day moving average is $919.44 and its two-hundred day moving average is $974.97. The firm has a market cap of $213.34 billion, a P/E ratio of 150.91, a PEG ratio of 4.51 and a beta of 0.95.

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

Analyst Ratings Changes

A number of equities analysts have recently issued reports on NOW shares. Redburn Atlantic started coverage on ServiceNow in a research report on Wednesday, February 19th. They set a "buy" rating on the stock. Barclays set a $1,085.00 price target on ServiceNow in a research report on Wednesday, May 7th. Bank of America dropped their price objective on ServiceNow from $1,280.00 to $1,025.00 and set a "buy" rating on the stock in a research report on Tuesday, April 15th. Guggenheim raised their price objective on ServiceNow from $716.00 to $724.00 and gave the company a "sell" rating in a research report on Thursday, April 24th. Finally, Sanford C. Bernstein reaffirmed an "outperform" rating and set a $1,003.00 price objective on shares of ServiceNow in a research report on Thursday, April 24th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, thirty have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, ServiceNow presently has an average rating of "Moderate Buy" and an average price target of $1,062.50.

Insider Buying and Selling at ServiceNow

In other news, insider Jacqueline P. Canney sold 354 shares of ServiceNow stock in a transaction that occurred on Wednesday, April 16th. The stock was sold at an average price of $804.61, for a total value of $284,831.94. Following the sale, the insider now directly owns 3,027 shares of the company's stock, valued at $2,435,554.47. The trade was a 10.47% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, General Counsel Russell S. Elmer sold 62 shares of ServiceNow stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $1,023.00, for a total value of $63,426.00. Following the completion of the sale, the general counsel now directly owns 4,332 shares in the company, valued at $4,431,636. This represents a 1.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 6,716 shares of company stock valued at $6,611,245. Company insiders own 0.38% of the company's stock.

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.

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