Envestnet Asset Management Inc. Sells 27,090 Shares of ServiceNow, Inc. (NYSE:NOW)

Envestnet Asset Management Inc. lessened its holdings in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 4.6% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 563,053 shares of the information technology services provider's stock after selling 27,090 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.27% of ServiceNow worth $448,269,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of NOW. Vanguard Group Inc. grew its stake in shares of ServiceNow by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 19,199,258 shares of the information technology services provider's stock worth $20,353,517,000 after acquiring an additional 190,430 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of ServiceNow by 6.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 7,955,924 shares of the information technology services provider's stock worth $8,434,235,000 after purchasing an additional 509,467 shares during the last quarter. FMR LLC grew its holdings in shares of ServiceNow by 4.9% in the 4th quarter. FMR LLC now owns 5,878,900 shares of the information technology services provider's stock worth $6,232,339,000 after purchasing an additional 272,506 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of ServiceNow by 2.4% in the 4th quarter. Geode Capital Management LLC now owns 4,312,571 shares of the information technology services provider's stock worth $4,560,890,000 after purchasing an additional 100,670 shares during the last quarter. Finally, GAMMA Investing LLC lifted its position in ServiceNow by 87,501.3% during the 1st quarter. GAMMA Investing LLC now owns 2,689,361 shares of the information technology services provider's stock worth $2,141,108,000 after buying an additional 2,686,291 shares in the last quarter. Institutional investors own 87.18% of the company's stock.

ServiceNow Trading Down 1.1%

Shares of NYSE:NOW traded down $11.65 on Tuesday, hitting $1,023.36. 1,459,490 shares of the company's stock were exchanged, compared to its average volume of 1,696,737. ServiceNow, Inc. has a 12 month low of $678.66 and a 12 month high of $1,198.09. The stock has a market capitalization of $211.82 billion, a price-to-earnings ratio of 139.04, a price-to-earnings-growth ratio of 4.80 and a beta of 0.94. The business's 50 day simple moving average is $1,005.88 and its two-hundred day simple moving average is $961.79. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.12 and a quick ratio of 1.12.

ServiceNow (NYSE:NOW - Get Free Report) last released its earnings results on Wednesday, April 23rd. The information technology services provider reported $4.04 earnings per share for the quarter, topping the consensus estimate of $3.78 by $0.26. ServiceNow had a return on equity of 17.34% and a net margin of 13.41%. The business had revenue of $3.09 billion during the quarter, compared to the consensus estimate of $3.09 billion. During the same period last year, the company earned $3.41 earnings per share. The business's revenue for the quarter was up 18.6% compared to the same quarter last year. Analysts anticipate that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Sanford C. Bernstein reiterated an "outperform" rating and set a $1,003.00 price target on shares of ServiceNow in a research report on Thursday, April 24th. Needham & Company LLC reiterated a "buy" rating and issued a $1,050.00 price target on shares of ServiceNow in a research report on Tuesday, May 6th. The Goldman Sachs Group reiterated a "buy" rating on shares of ServiceNow in a research report on Thursday, April 24th. Mizuho increased their target price on ServiceNow from $1,050.00 to $1,100.00 and gave the stock an "outperform" rating in a research note on Thursday, June 12th. Finally, Canaccord Genuity Group lowered their target price on ServiceNow from $1,275.00 to $900.00 and set a "buy" rating for the company in a research note on Tuesday, April 22nd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, thirty have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, ServiceNow presently has a consensus rating of "Moderate Buy" and an average price target of $1,068.23.

Insider Buying and Selling at ServiceNow

In related news, Vice Chairman Nicholas Tzitzon sold 1,171 shares of ServiceNow stock in a transaction dated 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 legal filing with the SEC, which is available through the SEC website. Also, General Counsel Russell S. Elmer sold 62 shares of ServiceNow stock in a transaction dated Tuesday, May 13th. The shares were 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 owned 4,332 shares of the company's stock, valued at $4,431,636. The trade was a 1.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 6,716 shares of company stock valued at $6,611,245. 0.38% of the stock is owned by company insiders.

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.