Left Brain Wealth Management LLC Sells 878 Shares of ServiceNow, Inc. (NYSE:NOW)

Left Brain Wealth Management LLC trimmed its holdings in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 14.2% in the first quarter, according to its most recent filing with the SEC. The firm owned 5,318 shares of the information technology services provider's stock after selling 878 shares during the period. ServiceNow makes up about 1.8% of Left Brain Wealth Management LLC's investment portfolio, making the stock its 22nd biggest position. Left Brain Wealth Management LLC's holdings in ServiceNow were worth $4,234,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Quarry LP bought a new position in shares of ServiceNow during the 4th quarter worth about $27,000. Atala Financial Inc bought a new position in ServiceNow during the 4th quarter valued at about $28,000. WASHINGTON TRUST Co lifted its holdings 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 purchasing an additional 31 shares during the last quarter. Heck Capital Advisors LLC bought a new position in ServiceNow during the 4th quarter valued at about $37,000. Finally, Cassady Schiller Wealth Management LLC lifted its holdings in ServiceNow by 44.0% during the 4th quarter. Cassady Schiller Wealth Management LLC now owns 36 shares of the information technology services provider's stock valued at $38,000 after purchasing an additional 11 shares during the last quarter. 87.18% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

NOW has been the subject of several analyst reports. BMO Capital Markets lifted their price target on shares of ServiceNow from $1,025.00 to $1,150.00 and gave the company an "outperform" rating in a report on Wednesday, May 14th. FBN Securities raised shares of ServiceNow to a "strong-buy" rating in a report on Wednesday, June 11th. Morgan Stanley reissued an "equal weight" rating on shares of ServiceNow in a report on Tuesday. Wells Fargo & Company lifted their price target on shares of ServiceNow from $1,100.00 to $1,150.00 and gave the company an "overweight" rating in a report on Thursday, April 24th. Finally, DA Davidson initiated coverage on shares of ServiceNow in a report on Wednesday, June 25th. They set a "buy" rating and a $1,150.00 price target for the company. One research analyst has rated the stock with a sell rating, two have issued a hold rating, thirty-one have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $1,068.23.

Insider Activity

In related news, Vice Chairman Nicholas Tzitzon sold 1,171 shares of the business's stock in a transaction that occurred 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 owned 3,000 shares in the company, valued at approximately $3,060,000. The trade was a 28.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jonathan Chadwick sold 770 shares of the company's stock in a transaction that occurred on Monday, April 28th. The shares were sold at an average price of $931.62, for a total transaction of $717,347.40. Following the completion of the transaction, the director owned 3,205 shares of the company's stock, valued at $2,985,842.10. This trade represents a 19.37% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 6,955 shares of company stock valued at $6,862,195. 0.38% of the stock is currently owned by company insiders.

ServiceNow Trading Down 3.2%

NOW opened at $937.12 on Friday. The company has a market cap of $193.97 billion, a price-to-earnings ratio of 127.33, a price-to-earnings-growth ratio of 4.31 and a beta of 0.94. The firm has a 50 day simple moving average of $1,008.08 and a 200 day simple moving average of $959.58. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.12 and a quick ratio of 1.12. 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 data on Wednesday, April 23rd. The information technology services provider reported $4.04 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.78 by $0.26. The firm had revenue of $3.09 billion during the quarter, compared to analysts' expectations of $3.09 billion. ServiceNow had a net margin of 13.41% and a return on equity of 17.34%. The business's revenue for the quarter was up 18.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $3.41 earnings per share. On average, sell-side analysts anticipate that ServiceNow, Inc. will post 8.93 earnings per share for the current year.

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.

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