ServiceNow, Inc. (NYSE:NOW) Shares Sold by Main Street Research LLC

Main Street Research LLC decreased its position in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 48.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 16,997 shares of the information technology services provider's stock after selling 15,740 shares during the quarter. Main Street Research LLC's holdings in ServiceNow were worth $13,532,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in NOW. Quarry LP bought a new stake in ServiceNow during the fourth quarter valued at about $27,000. Atala Financial Inc bought a new stake in ServiceNow during the fourth quarter valued at about $28,000. WASHINGTON TRUST Co boosted its position in ServiceNow by 620.0% during the first 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 in the last quarter. LFA Lugano Financial Advisors SA bought a new stake in ServiceNow during the fourth quarter valued at about $32,000. Finally, Heck Capital Advisors LLC bought a new stake in ServiceNow during the fourth quarter valued at about $37,000. Institutional investors own 87.18% of the company's stock.

Analyst Upgrades and Downgrades

NOW has been the subject of several recent analyst reports. Erste Group Bank raised ServiceNow from a "hold" rating to a "strong-buy" rating in a report on Wednesday, April 30th. Barclays set a $1,085.00 price target on ServiceNow in a report on Wednesday, May 7th. Royal Bank Of Canada raised their price target on ServiceNow from $1,060.00 to $1,100.00 and gave the stock an "outperform" rating in a report on Tuesday, May 6th. Canaccord Genuity Group lowered their price target on ServiceNow from $1,275.00 to $900.00 and set a "buy" rating for the company in a report on Tuesday, April 22nd. Finally, Stifel Nicolaus raised their price target on ServiceNow from $975.00 to $1,050.00 and gave the stock a "buy" rating in a report on Tuesday, May 6th. One research analyst has rated the stock with a sell rating, three have given a hold rating, thirty have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, ServiceNow has a consensus rating of "Moderate Buy" and an average target price of $1,068.23.

ServiceNow Price Performance

Shares of NYSE:NOW traded down $11.65 during trading on Friday, reaching $956.44. The stock had a trading volume of 280,600 shares, compared to its average volume of 1,475,740. 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 has a fifty day moving average price of $1,008.88 and a 200-day moving average price of $961.75. The stock has a market cap of $197.97 billion, a PE ratio of 130.29, a PEG ratio of 4.66 and a beta of 0.94. ServiceNow, Inc. has a 1-year low of $678.66 and a 1-year 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 (EPS) for the quarter, topping analysts' consensus estimates of $3.78 by $0.26. The firm had revenue of $3.09 billion for the quarter, compared to analyst estimates of $3.09 billion. ServiceNow had a return on equity of 17.34% and a net margin of 13.41%. The business's revenue was up 18.6% on a year-over-year basis. During the same period in the previous year, the company posted $3.41 earnings per share. On average, equities analysts forecast that ServiceNow, Inc. will post 8.93 earnings per share for the current fiscal year.

Insider Transactions at ServiceNow

In other ServiceNow news, General Counsel Russell S. Elmer sold 62 shares of the business's stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $1,023.00, for a total transaction of $63,426.00. Following the transaction, the general counsel owned 4,332 shares of the company's stock, valued at approximately $4,431,636. The trade was a 1.41% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO William R. Mcdermott sold 2,050 shares of the business's stock in a transaction 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 transaction, the chief executive officer directly owned 6,614 shares in the company, valued at $6,693,434.14. This trade represents a 23.66% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 6,955 shares of company stock valued at $6,862,195. Insiders own 0.38% of the company's stock.

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.