Creekmur Asset Management LLC Reduces Position in ServiceNow, Inc. (NYSE:NOW)

Creekmur Asset Management LLC cut its holdings in ServiceNow, Inc. (NYSE:NOW - Free Report) by 44.9% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 601 shares of the information technology services provider's stock after selling 490 shares during the period. Creekmur Asset Management LLC's holdings in ServiceNow were worth $478,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the business. Plancorp LLC raised its position in ServiceNow by 4.1% during the fourth quarter. Plancorp LLC now owns 308 shares of the information technology services provider's stock valued at $327,000 after purchasing an additional 12 shares in the last quarter. Capital Investment Advisory Services LLC grew its stake in ServiceNow by 2.1% during the first 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 raised its holdings in shares of ServiceNow by 1.2% during the fourth quarter. Kesler Norman & Wride LLC now owns 1,092 shares of the information technology services provider's stock valued at $1,157,000 after purchasing an additional 13 shares during the period. Sepio Capital LP grew its position in ServiceNow by 3.8% in the 4th quarter. Sepio Capital LP now owns 359 shares of the information technology services provider's stock valued at $381,000 after purchasing an additional 13 shares during the period. Finally, Mission Creek Capital Partners Inc. lifted its holdings in shares of ServiceNow by 0.5% in the fourth quarter. Mission Creek Capital Partners Inc. now owns 2,392 shares of the information technology services provider's stock valued at $2,536,000 after purchasing an additional 13 shares in the last quarter. 87.18% of the stock is owned by institutional investors and hedge funds.

ServiceNow Stock Up 0.4%

Shares of ServiceNow stock traded up $4.28 during midday trading on Friday, reaching $963.43. 1,153,834 shares of the company's stock traded hands, compared to its average volume of 1,486,620. The company's 50 day simple moving average is $1,006.88 and its 200 day simple moving average is $957.08. 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, Inc. has a 52 week low of $678.66 and a 52 week high of $1,198.09. The company has a market cap of $199.41 billion, a price-to-earnings ratio of 130.90, a price-to-earnings-growth ratio of 4.41 and a beta of 0.94.

ServiceNow (NYSE:NOW - Get Free Report) last released its quarterly earnings data 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. The company had revenue of $3.09 billion for the quarter, compared to the consensus estimate of $3.09 billion. ServiceNow had a return on equity of 17.34% and a net margin of 13.41%. The company's quarterly revenue was up 18.6% on a year-over-year basis. During the same period in the previous year, the business earned $3.41 earnings per share. Equities analysts expect that ServiceNow, Inc. will post 8.93 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Jonathan Chadwick sold 770 shares of ServiceNow stock in a transaction that occurred on Monday, April 28th. The shares were sold at an average price of $931.62, for a total value of $717,347.40. Following the completion of the sale, the director directly owned 3,205 shares in the company, valued at approximately $2,985,842.10. The trade was a 19.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 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 completion of the sale, the chief executive officer directly owned 6,614 shares in the company, valued at $6,693,434.14. This trade represents a 23.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 6,601 shares of company stock valued at $6,577,363. 0.38% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. Royal Bank Of Canada raised their target price on ServiceNow from $1,060.00 to $1,100.00 and gave the company an "outperform" rating in a research report on Tuesday, May 6th. Morgan Stanley reaffirmed an "equal weight" rating on shares of ServiceNow in a report on Tuesday, July 8th. Wall Street Zen upgraded ServiceNow from a "hold" rating to a "buy" rating in a research report on Sunday, July 13th. Scotiabank set a $1,100.00 target price on shares of ServiceNow and gave the stock an "outperform" rating in a research report on Wednesday, May 7th. Finally, Canaccord Genuity Group decreased their target price on shares of ServiceNow from $1,275.00 to $900.00 and set a "buy" rating on the stock in a research report on Tuesday, April 22nd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, thirty-one have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $1,075.87.

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.