Kintegral Advisory LLC Cuts Stake in ServiceNow, Inc. (NYSE:NOW)

Kintegral Advisory LLC reduced its position in ServiceNow, Inc. (NYSE:NOW - Free Report) by 32.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,739 shares of the information technology services provider's stock after selling 2,325 shares during the quarter. Kintegral Advisory LLC's holdings in ServiceNow were worth $3,773,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Quarry LP bought a new position in shares of ServiceNow during the fourth quarter valued at approximately $27,000. Atala Financial Inc purchased a new stake in ServiceNow during the fourth quarter worth $28,000. WASHINGTON TRUST Co boosted its position in ServiceNow by 620.0% during the 1st quarter. WASHINGTON TRUST Co now owns 36 shares of the information technology services provider's stock valued at $29,000 after acquiring an additional 31 shares in the last quarter. LFA Lugano Financial Advisors SA bought a new stake in ServiceNow during the 4th quarter valued at $32,000. Finally, Heck Capital Advisors LLC bought a new position in shares of ServiceNow in the 4th quarter worth $37,000. 87.18% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at ServiceNow

In related news, Director Anita M. Sands sold 248 shares of the firm's stock in a transaction 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 owned 10,643 shares in the company, valued at approximately $10,740,277.02. This trade represents a 2.28% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Vice Chairman Nicholas Tzitzon sold 1,171 shares of ServiceNow stock in a transaction on Friday, May 30th. The shares were sold at an average price of $1,020.00, for a total transaction of $1,194,420.00. Following the completion of the transaction, the insider directly owned 3,000 shares of the company's stock, valued at $3,060,000. The trade was a 28.07% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 6,716 shares of company stock worth $6,611,245. 0.38% of the stock is currently owned by insiders.

ServiceNow Price Performance

Shares of NOW opened at $1,046.03 on Friday. The business's 50-day moving average is $1,001.94 and its two-hundred day moving average is $964.12. The company has a market capitalization of $216.51 billion, a P/E ratio of 142.12, a P/E/G ratio of 4.64 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 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 posted its earnings results on Wednesday, April 23rd. The information technology services provider reported $4.04 EPS for the quarter, topping the consensus estimate of $3.78 by $0.26. ServiceNow had a return on equity of 17.34% and a net margin of 13.41%. The firm had revenue of $3.09 billion for the quarter, compared to analyst estimates of $3.09 billion. During the same period last year, the company earned $3.41 earnings per share. ServiceNow's revenue for the quarter was up 18.6% compared to the same quarter last year. Research analysts predict that ServiceNow, Inc. will post 8.93 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on NOW shares. JMP Securities reaffirmed a "market outperform" rating and set a $1,300.00 price objective on shares of ServiceNow in a research report on Tuesday, May 6th. Royal Bank Of Canada raised their price target on shares of ServiceNow from $1,060.00 to $1,100.00 and gave the company an "outperform" rating in a report on Tuesday, May 6th. Scotiabank set a $1,100.00 price objective on shares of ServiceNow and gave the stock an "outperform" rating in a research note on Wednesday, May 7th. Raymond James Financial decreased their target price on shares of ServiceNow from $1,200.00 to $1,000.00 and set an "outperform" rating for the company in a research report on Tuesday, April 8th. Finally, Barclays set a $1,085.00 price target on shares of ServiceNow in a report on Wednesday, May 7th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, thirty-one have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $1,068.23.

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.

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