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

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

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Quarry LP acquired a new stake in ServiceNow during the fourth quarter valued at $27,000. Atala Financial Inc acquired a new position in ServiceNow during the 4th quarter worth approximately $28,000. WASHINGTON TRUST Co raised its holdings in ServiceNow by 620.0% during the first quarter. WASHINGTON TRUST Co now owns 36 shares of the information technology services provider's stock worth $29,000 after purchasing an additional 31 shares in the last quarter. LFA Lugano Financial Advisors SA acquired a new stake in ServiceNow during the 4th quarter worth $32,000. Finally, Heck Capital Advisors LLC purchased a new position in shares of ServiceNow in the 4th quarter valued at approximately $37,000. 87.18% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

NOW has been the subject of a number of analyst reports. Royal Bank Of Canada boosted their price objective on shares of ServiceNow from $1,060.00 to $1,100.00 and gave the company an "outperform" rating in a research report on Tuesday, May 6th. Bank of America reduced their price objective on ServiceNow from $1,280.00 to $1,025.00 and set a "buy" rating for the company in a research report on Tuesday, April 15th. Wall Street Zen cut shares of ServiceNow from a "buy" rating to a "hold" rating in a research note on Saturday, July 5th. BMO Capital Markets lifted their price objective on shares of ServiceNow from $1,025.00 to $1,150.00 and gave the stock an "outperform" rating in a research note on Wednesday, May 14th. Finally, Cantor Fitzgerald reissued an "overweight" rating and issued a $1,048.00 target price on shares of ServiceNow in a research report on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, thirty have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $1,068.23.

ServiceNow Stock Performance

Shares of NYSE NOW traded down $33.94 during mid-day trading on Thursday, reaching $979.77. 1,203,988 shares of the company's stock were exchanged, compared to its average volume of 1,477,392. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.12 and a quick ratio of 1.12. The firm has a market capitalization of $202.79 billion, a price-to-earnings ratio of 133.29, a price-to-earnings-growth ratio of 4.70 and a beta of 0.94. ServiceNow, Inc. has a 52 week low of $678.66 and a 52 week high of $1,198.09. The firm has a 50-day moving average price of $1,008.69 and a two-hundred day moving average price of $962.58.

ServiceNow (NYSE:NOW - Get Free Report) last released its quarterly earnings data 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. The firm had revenue of $3.09 billion for the quarter, compared to the consensus estimate of $3.09 billion. ServiceNow had a return on equity of 17.34% and a net margin of 13.41%. The company's quarterly revenue was up 18.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.41 earnings per share. Analysts predict that ServiceNow, Inc. will post 8.93 EPS for the current year.

Insider Transactions at ServiceNow

In other news, Director Deborah Black sold 598 shares of the company's stock in a transaction dated Friday, April 25th. The shares were sold at an average price of $940.23, for a total transaction of $562,257.54. Following the sale, the director directly owned 428 shares in the company, valued at approximately $402,418.44. This represents a 58.28% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO William R. Mcdermott sold 2,050 shares of the 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 directly owned 6,614 shares in the company, valued at $6,693,434.14. This trade represents a 23.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 6,955 shares of company stock valued at $6,862,195. Insiders own 0.38% of the company's stock.

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.