First Citizens Bank & Trust Co. Sells 531 Shares of ServiceNow, Inc. (NYSE:NOW)

First Citizens Bank & Trust Co. decreased its stake in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 43.2% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 699 shares of the information technology services provider's stock after selling 531 shares during the quarter. First Citizens Bank & Trust Co.'s holdings in ServiceNow were worth $557,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in NOW. GAMMA Investing LLC grew its stake in shares of ServiceNow by 87,501.3% in the first quarter. GAMMA Investing LLC now owns 2,689,361 shares of the information technology services provider's stock worth $2,141,108,000 after acquiring an additional 2,686,291 shares during the period. Norges Bank purchased a new stake in ServiceNow in the 4th quarter worth $2,603,360,000. Proficio Capital Partners LLC increased its holdings in shares of ServiceNow by 154,255.3% in the 4th quarter. Proficio Capital Partners LLC now owns 666,815 shares of the information technology services provider's stock worth $667,000 after buying an additional 666,383 shares during the last quarter. Alphinity Investment Management Pty Ltd bought a new position in shares of ServiceNow in the 4th quarter valued at about $682,468,000. Finally, Price T Rowe Associates Inc. MD grew its position in ServiceNow by 6.8% in the fourth 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 acquiring an additional 509,467 shares in the last quarter. 87.18% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on NOW shares. JMP Securities restated a "market outperform" rating and set a $1,300.00 price target on shares of ServiceNow in a report on Tuesday, May 6th. Oppenheimer reiterated an "outperform" rating and set a $1,100.00 price objective (up previously from $970.00) on shares of ServiceNow in a report on Tuesday, May 6th. Morgan Stanley lifted their price target on shares of ServiceNow from $881.00 to $950.00 and gave the company an "equal weight" rating in a research note on Thursday, April 24th. TD Securities restated a "buy" rating and set a $1,100.00 price objective on shares of ServiceNow in a report on Thursday, April 24th. Finally, Cantor Fitzgerald reissued an "overweight" rating and set a $1,048.00 price target on shares of ServiceNow in a research report on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-nine have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, ServiceNow presently has a consensus rating of "Moderate Buy" and an average price target of $1,062.50.

ServiceNow Stock Up 0.4%

Shares of NOW traded up $4.01 during mid-day trading on Thursday, reaching $1,008.34. 178,673 shares of the stock traded hands, compared to its average volume of 1,477,151. ServiceNow, Inc. has a 12-month low of $678.66 and a 12-month high of $1,198.09. The stock has a fifty day simple moving average of $933.88 and a 200 day simple moving average of $974.34. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.15. The firm has a market cap of $208.71 billion, a price-to-earnings ratio of 147.63, a P/E/G ratio of 4.51 and a beta of 0.95.

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, beating the consensus estimate of $3.78 by $0.26. The firm had revenue of $3.09 billion during the quarter, compared to analyst estimates of $3.09 billion. ServiceNow had a net margin of 12.97% and a return on equity of 17.11%. The firm's revenue for the quarter was up 18.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.41 earnings per share. Sell-side analysts expect that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Anita M. Sands sold 248 shares of the stock in a transaction that occurred on 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 sale, the director now directly owns 10,643 shares of the company's stock, valued at $10,740,277.02. This represents a 2.28% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Jacqueline P. Canney sold 66 shares of the stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $1,023.00, for a total transaction of $67,518.00. Following the completion of the transaction, the insider now owns 3,027 shares in the company, valued at $3,096,621. This represents a 2.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 6,716 shares of company stock valued at $6,611,245 over the last three months. Company insiders own 0.38% of the company's stock.

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.