Financial Counselors Inc. Has $18 Million Stock Holdings in ServiceNow, Inc. (NYSE:NOW)

Financial Counselors Inc. cut its position in ServiceNow, Inc. (NYSE:NOW - Free Report) by 7.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 22,608 shares of the information technology services provider's stock after selling 1,882 shares during the period. Financial Counselors Inc.'s holdings in ServiceNow were worth $17,999,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in NOW. GAMMA Investing LLC grew its stake in shares of ServiceNow by 87,501.3% in the 1st quarter. GAMMA Investing LLC now owns 2,689,361 shares of the information technology services provider's stock valued at $2,141,108,000 after buying an additional 2,686,291 shares during the period. Norges Bank acquired a new position in ServiceNow during the 4th quarter valued at about $2,603,360,000. Proficio Capital Partners LLC boosted its stake in ServiceNow by 154,255.3% during the 4th quarter. Proficio Capital Partners LLC now owns 666,815 shares of the information technology services provider's stock valued at $667,000 after purchasing an additional 666,383 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in ServiceNow by 6.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 7,955,924 shares of the information technology services provider's stock valued at $8,434,235,000 after purchasing an additional 509,467 shares during the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its stake in ServiceNow by 36.7% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 1,830,419 shares of the information technology services provider's stock valued at $1,940,464,000 after purchasing an additional 491,861 shares during the last quarter. 87.18% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at ServiceNow

In other ServiceNow news, insider Jacqueline P. Canney sold 145 shares of the company's stock in a transaction dated Friday, May 30th. The shares were sold at an average price of $1,020.00, for a total transaction of $147,900.00. Following the completion of the sale, the insider directly owned 3,027 shares in the company, valued at $3,087,540. This represents a 4.57% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, General Counsel Russell S. Elmer sold 62 shares of the company's stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $1,023.00, for a total transaction of $63,426.00. Following the transaction, the general counsel directly owned 4,332 shares of the company's stock, valued at approximately $4,431,636. This trade represents a 1.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 6,716 shares of company stock valued at $6,611,245. 0.38% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research firms have issued reports on NOW. Scotiabank set a $1,100.00 price target on ServiceNow and gave the company an "outperform" rating in a research note on Wednesday, May 7th. Raymond James Financial cut their price target on ServiceNow from $1,200.00 to $1,000.00 and set an "outperform" rating for the company in a research note on Tuesday, April 8th. Evercore ISI lifted their price target on ServiceNow from $925.00 to $1,000.00 and gave the company an "outperform" rating in a research note on Thursday, April 24th. Erste Group Bank raised shares of ServiceNow from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, April 30th. Finally, DA Davidson began coverage on shares of ServiceNow in a research report on Wednesday, June 25th. They set a "buy" rating and a $1,150.00 target price on the stock. One analyst has rated the stock with a sell rating, three have assigned a hold rating, thirty have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, ServiceNow currently has an average rating of "Moderate Buy" and an average price target of $1,068.23.

ServiceNow Trading Up 3.6%

ServiceNow stock opened at $1,046.03 on Monday. The stock has a market cap of $216.51 billion, a P/E ratio of 142.12, a PEG ratio of 4.80 and a beta of 0.94. ServiceNow, Inc. has a fifty-two week low of $678.66 and a fifty-two week high of $1,198.09. The firm's fifty day moving average price is $1,003.94 and its 200-day moving average price is $962.18. 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 (NYSE:NOW - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The information technology services provider reported $4.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.78 by $0.26. ServiceNow had a net margin of 13.41% and a return on equity of 17.34%. The company had revenue of $3.09 billion during the quarter, compared to analyst estimates of $3.09 billion. During the same period in the previous year, the business earned $3.41 earnings per share. The firm's quarterly revenue was up 18.6% compared to the same quarter last year. Equities research analysts forecast that ServiceNow, Inc. will post 8.93 earnings per share for the current fiscal 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.