DAVENPORT & Co LLC Lowers Stock Position in ServiceNow, Inc. (NYSE:NOW)

DAVENPORT & Co LLC reduced its position in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 15.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 115,169 shares of the information technology services provider's stock after selling 21,153 shares during the period. DAVENPORT & Co LLC owned approximately 0.06% of ServiceNow worth $91,733,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Cassady Schiller Wealth Management LLC increased its stake in ServiceNow by 44.0% in 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 lifted its position in shares of ServiceNow by 4.1% in 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. Kesler Norman & Wride LLC boosted its position in 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 valued at $1,157,000 after acquiring an additional 13 shares in the last quarter. Sepio Capital LP raised its holdings in ServiceNow by 3.8% in the fourth 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 in the last quarter. Finally, Mission Creek Capital Partners Inc. lifted its position in ServiceNow by 0.5% during the 4th 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 acquiring an additional 13 shares during the period. 87.18% of the stock is currently owned by institutional investors.

Insider Buying and Selling at ServiceNow

In other news, Vice Chairman Nicholas Tzitzon sold 1,171 shares of the business'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 value of $1,194,420.00. Following the completion of the sale, the insider directly owned 3,000 shares in the company, valued at $3,060,000. The trade was a 28.07% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Anita M. Sands sold 248 shares of the stock in a transaction dated 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 owned 10,643 shares of the company's stock, valued at approximately $10,740,277.02. The trade was a 2.28% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 6,716 shares of company stock worth $6,611,245. 0.38% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several brokerages recently weighed in on NOW. Citigroup raised their price target on shares of ServiceNow from $1,128.00 to $1,160.00 and gave the company a "buy" rating in a research report on Wednesday, May 7th. Mizuho upped their target price on shares of ServiceNow from $1,050.00 to $1,100.00 and gave the company an "outperform" rating in a report on Thursday, June 12th. Wells Fargo & Company lifted their price objective 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. Robert W. Baird increased their target price on ServiceNow from $1,010.00 to $1,150.00 and gave the stock an "outperform" rating in a research report on Thursday, April 24th. Finally, Barclays set a $1,085.00 target price on ServiceNow in a research report on Wednesday, May 7th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, thirty-one have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $1,068.23.

ServiceNow Stock Up 4.2%

NOW traded up $42.53 during trading on Thursday, hitting $1,052.29. The stock had a trading volume of 687,725 shares, compared to its average volume of 1,480,886. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.12 and a current ratio of 1.12. The company has a market capitalization of $217.80 billion, a PE ratio of 143.36, a PEG ratio of 4.65 and a beta of 0.94. ServiceNow, Inc. has a twelve month low of $678.66 and a twelve month high of $1,198.09. The stock has a 50 day simple moving average of $999.82 and a two-hundred day simple moving average of $964.70.

ServiceNow (NYSE:NOW - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The information technology services provider reported $4.04 EPS for the quarter, beating analysts' consensus estimates of $3.78 by $0.26. ServiceNow had a return on equity of 17.34% and a net margin of 13.41%. The firm had revenue of $3.09 billion for the quarter, compared to analyst estimates of $3.09 billion. During the same quarter in the prior year, the firm earned $3.41 earnings per share. ServiceNow's revenue for the quarter was up 18.6% on a year-over-year basis. On average, research analysts predict that ServiceNow, Inc. will post 8.93 earnings per share 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.