Impact Capital Partners LLC Decreases Stock Position in ServiceNow, Inc. (NYSE:NOW)

Impact Capital Partners LLC lessened its stake in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 30.6% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 659 shares of the information technology services provider's stock after selling 291 shares during the period. Impact Capital Partners LLC's holdings in ServiceNow were worth $525,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of NOW. Quarry LP purchased a new stake in ServiceNow during the 4th quarter valued at $27,000. Atala Financial Inc purchased a new stake in ServiceNow in the fourth quarter worth $28,000. LFA Lugano Financial Advisors SA purchased a new stake in ServiceNow in the fourth quarter worth $32,000. FPC Investment Advisory Inc. increased its stake in ServiceNow by 725.0% in the fourth quarter. FPC Investment Advisory Inc. now owns 33 shares of the information technology services provider's stock worth $34,000 after purchasing an additional 29 shares during the period. Finally, Noble Wealth Management PBC purchased a new stake in ServiceNow in the fourth quarter worth $34,000. Hedge funds and other institutional investors own 87.18% of the company's stock.

ServiceNow Price Performance

Shares of NYSE NOW opened at $1,030.70 on Friday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.10 and a current ratio of 1.10. The company has a market cap of $213.34 billion, a PE ratio of 150.91, a P/E/G ratio of 4.51 and a beta of 0.95. The business has a 50-day simple moving average of $919.44 and a two-hundred day simple moving average of $974.63. ServiceNow, Inc. has a fifty-two week low of $678.66 and a fifty-two week high of $1,198.09.

ServiceNow (NYSE:NOW - Get Free Report) last issued its quarterly 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. 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 17.11% and a net margin of 12.97%. The company's quarterly revenue was up 18.6% on a year-over-year basis. During the same quarter last year, the company earned $3.41 earnings per share. As a group, equities analysts expect that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO William R. Mcdermott sold 2,050 shares of ServiceNow 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 sale, the chief executive officer now owns 6,614 shares of the company's stock, valued at $6,693,434.14. The trade was a 23.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Anita M. Sands sold 428 shares of ServiceNow 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 sale, the director now directly owns 10,891 shares of the company's stock, valued at $11,039,226.51. This trade represents a 3.78% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 6,716 shares of company stock valued at $6,611,245. 0.38% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

NOW has been the topic of a number of recent analyst reports. TD Securities reiterated a "buy" rating and issued a $1,100.00 target price on shares of ServiceNow in a research note on Thursday, April 24th. Scotiabank set a $1,100.00 target price on ServiceNow and gave the stock an "outperform" rating in a research note on Wednesday, May 7th. Mizuho reduced their target price on ServiceNow from $1,210.00 to $1,100.00 and set an "outperform" rating on the stock in a research note on Tuesday, March 11th. Redburn Atlantic initiated coverage on ServiceNow in a research note on Wednesday, February 19th. They issued a "buy" rating on the stock. Finally, Canaccord Genuity Group reduced their target price on ServiceNow from $1,275.00 to $900.00 and set a "buy" rating on the stock in a research note on Tuesday, April 22nd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, thirty have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, ServiceNow has a consensus rating of "Moderate Buy" and a consensus target price of $1,062.50.

ServiceNow Company 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.

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