Diversify Wealth Management LLC Trims Stake in ServiceNow, Inc. (NYSE:NOW)

Diversify Wealth Management LLC reduced its stake in ServiceNow, Inc. (NYSE:NOW - Free Report) by 6.8% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,085 shares of the information technology services provider's stock after selling 446 shares during the period. Diversify Wealth Management LLC's holdings in ServiceNow were worth $4,845,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in NOW. Quarry LP bought a new stake in shares of ServiceNow in the fourth quarter valued at about $27,000. Atala Financial Inc acquired a new position in shares of ServiceNow in the fourth quarter valued at approximately $28,000. LFA Lugano Financial Advisors SA acquired a new position in shares of ServiceNow in the fourth quarter valued at approximately $32,000. Heck Capital Advisors LLC acquired a new position in shares of ServiceNow in the fourth quarter valued at approximately $37,000. Finally, Cassady Schiller Wealth Management LLC grew its position in shares of ServiceNow by 44.0% in the fourth quarter. Cassady Schiller Wealth Management LLC now owns 36 shares of the information technology services provider's stock valued at $38,000 after purchasing an additional 11 shares during the last quarter. 87.18% of the stock is currently owned by institutional investors.

ServiceNow Stock Down 3.2%

Shares of NOW traded down $30.97 during trading hours on Friday, hitting $937.12. The stock had a trading volume of 2,144,933 shares, compared to its average volume of 1,483,800. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.12 and a quick ratio of 1.12. The firm has a 50 day simple moving average of $1,008.88 and a 200-day simple moving average of $961.75. The firm has a market capitalization of $193.97 billion, a P/E ratio of 127.33, a price-to-earnings-growth ratio of 4.45 and a beta of 0.94. ServiceNow, Inc. has a 1-year low of $678.66 and a 1-year high of $1,198.09.

ServiceNow (NYSE:NOW - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The information technology services provider reported $4.04 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.78 by $0.26. The business had revenue of $3.09 billion during 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 quarter in the previous year, the business earned $3.41 EPS. Sell-side analysts predict that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

Insider Buying and Selling at ServiceNow

In related news, Vice Chairman Nicholas Tzitzon sold 1,171 shares of ServiceNow stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $1,020.00, for a total value of $1,194,420.00. Following the sale, the insider owned 3,000 shares of the company's stock, valued at approximately $3,060,000. The trade was a 28.07% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Deborah Black sold 598 shares of ServiceNow stock in a transaction that occurred on Friday, April 25th. The stock was sold at an average price of $940.23, for a total transaction of $562,257.54. Following the completion of the sale, the director directly owned 428 shares in the company, valued at $402,418.44. This trade represents a 58.28% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 6,955 shares of company stock worth $6,862,195. 0.38% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

NOW has been the topic of a number of analyst reports. Guggenheim reissued a "sell" rating and set a $724.00 price target on shares of ServiceNow in a research report on Tuesday. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $1,048.00 target price on shares of ServiceNow in a report on Thursday, April 24th. 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 report on Tuesday, May 6th. TD Securities reaffirmed a "buy" rating and issued a $1,100.00 target price on shares of ServiceNow in a report on Thursday, April 24th. Finally, JMP Securities reiterated a "market outperform" rating and issued a $1,300.00 price target on shares of ServiceNow in a research note on Tuesday, May 6th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, thirty have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $1,068.23.

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.