Means Investment CO. Inc. Sells 554 Shares of ServiceNow, Inc. (NYSE:NOW)

Means Investment CO. Inc. lowered its holdings in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 21.8% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 1,988 shares of the information technology services provider's stock after selling 554 shares during the period. Means Investment CO. Inc.'s holdings in ServiceNow were worth $1,583,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in shares of ServiceNow by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 19,199,258 shares of the information technology services provider's stock worth $20,353,517,000 after purchasing an additional 190,430 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in ServiceNow by 6.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 7,955,924 shares of the information technology services provider's stock valued at $8,434,235,000 after buying an additional 509,467 shares during the period. FMR LLC grew its holdings in ServiceNow by 4.9% in the 4th quarter. FMR LLC now owns 5,878,900 shares of the information technology services provider's stock worth $6,232,339,000 after acquiring an additional 272,506 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of ServiceNow by 2.4% in the fourth quarter. Geode Capital Management LLC now owns 4,312,571 shares of the information technology services provider's stock worth $4,560,890,000 after purchasing an additional 100,670 shares during the last quarter. Finally, GAMMA Investing LLC grew its position in shares of ServiceNow by 87,501.3% in the 1st quarter. GAMMA Investing LLC now owns 2,689,361 shares of the information technology services provider's stock worth $2,141,108,000 after buying an additional 2,686,291 shares during the last quarter. Institutional investors own 87.18% of the company's stock.

ServiceNow Stock Down 2.4%

Shares of NYSE:NOW opened at $980.29 on Friday. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.15. The company has a market capitalization of $202.90 billion, a P/E ratio of 133.19, a P/E/G ratio of 4.53 and a beta of 0.95. ServiceNow, Inc. has a 52-week low of $678.66 and a 52-week high of $1,198.09. The stock's fifty day simple moving average is $960.74 and its 200-day simple moving average is $971.98.

ServiceNow (NYSE:NOW - Get Free Report) last posted its quarterly earnings results 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 the consensus estimate of $3.09 billion. ServiceNow had a return on equity of 17.34% and a net margin of 13.41%. The firm's quarterly revenue was up 18.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.41 earnings per share. As a group, equities research analysts forecast that ServiceNow, Inc. will post 8.93 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on NOW shares. The Goldman Sachs Group restated a "buy" rating on shares of ServiceNow in a research report on Thursday, April 24th. Barclays set a $1,085.00 target price on ServiceNow in a research note on Wednesday, May 7th. Evercore ISI boosted their price objective on shares of ServiceNow from $925.00 to $1,000.00 and gave the company an "outperform" rating in a report on Thursday, April 24th. Jefferies Financial Group reduced their price target on shares of ServiceNow from $1,250.00 to $1,025.00 and set a "buy" rating for the company in a research report on Tuesday, April 15th. Finally, Erste Group Bank raised ServiceNow from a "hold" rating to a "strong-buy" rating in a report on Wednesday, April 30th. One analyst has rated the stock with a sell rating, three have given a hold rating, twenty-nine have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, ServiceNow currently has an average rating of "Moderate Buy" and a consensus target price of $1,062.50.

Insider Transactions at ServiceNow

In related news, General Counsel Russell S. Elmer sold 62 shares of the stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $1,023.00, for a total transaction of $63,426.00. Following the sale, the general counsel now owns 4,332 shares in the company, valued at $4,431,636. This represents a 1.41% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jacqueline P. Canney sold 354 shares of the stock in a transaction that occurred on Wednesday, April 16th. The stock was sold at an average price of $804.61, for a total value of $284,831.94. Following the sale, the insider now owns 3,027 shares in the company, valued at $2,435,554.47. The trade was a 10.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 6,716 shares of company stock valued at $6,611,245 over the last quarter. Company 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.

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