GPS Wealth Strategies Group LLC Has $5.21 Million Stock Position in ServiceNow, Inc. (NYSE:NOW)

GPS Wealth Strategies Group LLC lowered its stake in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 9.8% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,549 shares of the information technology services provider's stock after selling 715 shares during the quarter. ServiceNow makes up approximately 0.7% of GPS Wealth Strategies Group LLC's holdings, making the stock its 27th largest position. GPS Wealth Strategies Group LLC's holdings in ServiceNow were worth $5,214,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in NOW. GAMMA Investing LLC boosted 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 acquiring an additional 2,686,291 shares during the period. Norges Bank acquired a new position in ServiceNow during the 4th quarter worth $2,603,360,000. Proficio Capital Partners LLC raised its stake 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 in the last quarter. Alphinity Investment Management Pty Ltd bought a new stake in shares of ServiceNow in the 4th quarter worth $682,468,000. Finally, Price T Rowe Associates Inc. MD raised its stake 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 buying an additional 509,467 shares in the last quarter. Institutional investors and hedge funds own 87.18% of the company's stock.

Insider Transactions at ServiceNow

In related news, CEO William R. Mcdermott sold 2,050 shares of the business's stock in a transaction dated Friday, May 30th. The stock was sold at an average price of $1,012.01, for a total transaction of $2,074,620.50. Following the completion of the transaction, the chief executive officer now owns 6,614 shares of the company's stock, valued at approximately $6,693,434.14. The trade was a 23.66% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Anita M. Sands sold 428 shares of the business's stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $1,013.61, for a total value of $433,825.08. Following the transaction, the director now directly owns 10,891 shares of the company's stock, valued at $11,039,226.51. This represents a 3.78% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 6,716 shares of company stock worth $6,611,245. 0.38% of the stock is owned by corporate insiders.

ServiceNow Stock Up 0.2%

Shares of NOW traded up $1.70 during trading hours on Thursday, hitting $1,006.03. 846,899 shares of the company were exchanged, compared to its average volume of 1,480,444. The company has a market cap of $208.23 billion, a PE ratio of 147.30, a PEG ratio of 4.51 and a beta of 0.95. The firm's 50 day moving average is $933.88 and its 200-day moving average is $974.34. ServiceNow, Inc. has a 52 week low of $678.66 and a 52 week high of $1,198.09. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.10 and a current ratio of 1.10.

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, topping the consensus estimate of $3.78 by $0.26. The company 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 17.11% and a net margin of 12.97%. The firm's revenue was up 18.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.41 EPS. On average, equities research analysts forecast that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on NOW. JPMorgan Chase & Co. dropped their price objective on ServiceNow from $1,200.00 to $970.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 22nd. Sanford C. Bernstein reissued an "outperform" rating and issued a $1,003.00 price objective on shares of ServiceNow in a research note on Thursday, April 24th. Bank of America dropped their price objective on ServiceNow from $1,280.00 to $1,025.00 and set a "buy" rating on the stock in a research note on Tuesday, April 15th. Scotiabank set a $1,100.00 price objective on ServiceNow and gave the stock an "outperform" rating in a research note on Wednesday, May 7th. Finally, Mizuho boosted their target price on ServiceNow from $1,050.00 to $1,100.00 and gave the stock an "outperform" rating in a research report on Thursday. One investment analyst has rated the stock with a sell rating, three have given a hold rating, twenty-nine have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, ServiceNow has an average rating of "Moderate Buy" and a consensus price target of $1,062.50.

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.