ServiceNow, Inc. (NYSE:NOW) Shares Sold by Janney Capital Management LLC

Janney Capital Management LLC trimmed its position in ServiceNow, Inc. (NYSE:NOW - Free Report) by 15.2% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,929 shares of the information technology services provider's stock after selling 1,953 shares during the period. Janney Capital Management LLC's holdings in ServiceNow were worth $8,701,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of NOW. GAMMA Investing LLC increased its stake in shares of ServiceNow by 87,501.3% during 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 acquired a new stake in ServiceNow in the fourth quarter valued at about $2,603,360,000. Proficio Capital Partners LLC boosted its holdings in 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 valued at $667,000 after purchasing an additional 666,383 shares in the last quarter. Alphinity Investment Management Pty Ltd acquired a new position in ServiceNow during the 4th quarter worth approximately $682,468,000. Finally, Price T Rowe Associates Inc. MD raised its stake in shares of 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 worth $8,434,235,000 after buying an additional 509,467 shares in the last quarter. 87.18% of the stock is owned by institutional investors and hedge funds.

ServiceNow Stock Down 2.4%

Shares of NOW stock traded down $24.62 during mid-day trading on Thursday, reaching $980.29. 1,208,405 shares of the company were exchanged, compared to its average volume of 1,481,461. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.12 and a current ratio of 1.12. The business's 50 day simple moving average is $956.82 and its 200 day simple moving average is $972.45. The company has a market capitalization of $202.90 billion, a P/E ratio of 133.19, a P/E/G ratio of 4.63 and a beta of 0.95. 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 posted its quarterly earnings data on Wednesday, April 23rd. The information technology services provider reported $4.04 EPS for the quarter, beating analysts' consensus estimates of $3.78 by $0.26. The firm had revenue of $3.09 billion for the quarter, compared to the consensus estimate of $3.09 billion. ServiceNow had a net margin of 13.41% and a return on equity of 17.34%. The firm's revenue was up 18.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.41 EPS. Research analysts predict that ServiceNow, Inc. will post 8.93 earnings per share for the current year.

Insider Activity

In other ServiceNow news, insider Jacqueline P. Canney sold 354 shares of the stock in a transaction that occurred on Wednesday, April 16th. The stock was sold at an average price of $804.61, for a total transaction of $284,831.94. Following the transaction, the insider now owns 3,027 shares of the company's stock, valued at $2,435,554.47. This trade represents a 10.47% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO William R. Mcdermott sold 2,050 shares of ServiceNow stock in a transaction that occurred on Friday, May 30th. The stock was sold at an average price of $1,012.01, for a total value 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 disclosure for this sale can be found here. In the last 90 days, insiders have sold 6,716 shares of company stock worth $6,611,245. 0.38% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms recently weighed in on NOW. Raymond James Financial decreased their price target on ServiceNow from $1,200.00 to $1,000.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 8th. Needham & Company LLC reiterated a "buy" rating and issued a $1,050.00 price objective on shares of ServiceNow in a research report on Tuesday, May 6th. Robert W. Baird upped their price objective on ServiceNow from $1,010.00 to $1,150.00 and gave the company an "outperform" rating in a research report on Thursday, April 24th. Wall Street Zen cut ServiceNow from a "buy" rating to a "hold" rating in a report on Monday, June 9th. Finally, The Goldman Sachs Group reaffirmed a "buy" rating 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 issued a hold rating, twenty-nine have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target 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.