Mattson Financial Services LLC Reduces Position in ServiceNow, Inc. (NYSE:NOW)

Mattson Financial Services LLC lowered its stake in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 20.3% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 2,134 shares of the information technology services provider's stock after selling 545 shares during the period. Mattson Financial Services LLC's holdings in ServiceNow were worth $2,262,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in NOW. Quarry LP bought a new stake in shares of ServiceNow in the 4th quarter worth approximately $27,000. Atala Financial Inc bought a new stake in shares of ServiceNow in the 4th quarter worth approximately $28,000. LFA Lugano Financial Advisors SA bought a new stake in shares of ServiceNow in the 4th quarter worth approximately $32,000. Noble Wealth Management PBC bought a new stake in shares of ServiceNow in the 4th quarter worth approximately $34,000. Finally, FPC Investment Advisory Inc. raised its holdings in shares of ServiceNow by 725.0% in the 4th quarter. FPC Investment Advisory Inc. now owns 33 shares of the information technology services provider's stock worth $34,000 after purchasing an additional 29 shares during the period. Institutional investors and hedge funds own 87.18% of the company's stock.

Insider Activity at ServiceNow

In related news, General Counsel Russell S. Elmer sold 62 shares of the firm's stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $1,023.00, for a total value of $63,426.00. Following the sale, the general counsel now owns 4,332 shares in the company, valued at approximately $4,431,636. This trade represents a 1.41% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Anita M. Sands sold 428 shares of the firm's stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $1,013.61, for a total transaction of $433,825.08. Following the completion of the sale, the director now owns 10,891 shares in the company, valued at $11,039,226.51. This represents a 3.78% decrease in their position. The disclosure for this sale can be found here. Insiders sold 3,102 shares of company stock valued at $2,944,038 over the last 90 days. Corporate insiders own 0.38% of the company's stock.

ServiceNow Stock Down 0.3%

Shares of NOW traded down $3.43 on Friday, hitting $1,011.80. 2,663,194 shares of the stock traded hands, compared to its average volume of 1,505,352. The company has a market capitalization of $209.43 billion, a PE ratio of 148.14, a P/E/G ratio of 4.51 and a beta of 0.97. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.10 and a current ratio of 1.10. The business has a 50 day simple moving average of $899.20 and a 200 day simple moving average of $974.30. ServiceNow, Inc. has a one year low of $645.45 and a one year high of $1,198.09.

ServiceNow (NYSE:NOW - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The information technology services provider reported $4.04 earnings per share for the quarter, beating the consensus estimate of $3.78 by $0.26. The company had revenue of $3.09 billion during the quarter, compared to the consensus estimate of $3.09 billion. ServiceNow had a net margin of 12.97% and a return on equity of 17.11%. The firm's quarterly revenue was up 18.6% compared to the same quarter last year. During the same quarter last year, the firm earned $3.41 earnings per share. As a group, equities analysts forecast that ServiceNow, Inc. will post 8.93 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have issued reports on NOW. Wall Street Zen raised shares of ServiceNow from a "hold" rating to a "buy" rating in a report on Sunday. BMO Capital Markets boosted their target price 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. Piper Sandler lowered their target price on shares of ServiceNow from $1,200.00 to $1,120.00 and set an "overweight" rating on the stock in a report on Thursday, April 24th. Jefferies Financial Group lowered their target price on shares of ServiceNow from $1,250.00 to $1,025.00 and set a "buy" rating on the stock in a report on Tuesday, April 15th. Finally, Barclays set a $1,085.00 target price on shares of ServiceNow in a report on Wednesday, May 7th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, thirty have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, ServiceNow presently has a consensus rating of "Moderate Buy" and an average target price 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.