Moloney Securities Asset Management LLC Reduces Holdings in ServiceNow, Inc. (NYSE:NOW)

Moloney Securities Asset Management LLC cut its position in ServiceNow, Inc. (NYSE:NOW - Free Report) by 68.6% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 480 shares of the information technology services provider's stock after selling 1,047 shares during the quarter. Moloney Securities Asset Management LLC's holdings in ServiceNow were worth $382,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the company. Cassady Schiller Wealth Management LLC raised its holdings in ServiceNow by 44.0% in the 4th quarter. Cassady Schiller Wealth Management LLC now owns 36 shares of the information technology services provider's stock worth $38,000 after acquiring an additional 11 shares during the period. Plancorp LLC grew its position in shares of ServiceNow by 4.1% in the fourth quarter. Plancorp LLC now owns 308 shares of the information technology services provider's stock valued at $327,000 after purchasing an additional 12 shares during the last quarter. Capital Investment Advisory Services LLC increased its stake in shares of ServiceNow by 2.1% in the first quarter. Capital Investment Advisory Services LLC now owns 577 shares of the information technology services provider's stock worth $459,000 after purchasing an additional 12 shares during the period. Kesler Norman & Wride LLC lifted its position in shares of ServiceNow by 1.2% during the 4th quarter. Kesler Norman & Wride LLC now owns 1,092 shares of the information technology services provider's stock worth $1,157,000 after purchasing an additional 13 shares during the last quarter. Finally, Sepio Capital LP lifted its holdings in shares of ServiceNow by 3.8% during the fourth quarter. Sepio Capital LP now owns 359 shares of the information technology services provider's stock worth $381,000 after buying an additional 13 shares during the last quarter. 87.18% of the stock is owned by institutional investors and hedge funds.

ServiceNow Trading Down 4.5%

Shares of NOW opened at $968.29 on Friday. 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 company has a market cap of $200.42 billion, a price-to-earnings ratio of 131.56, a PEG ratio of 4.66 and a beta of 0.94. The stock has a fifty day moving average price of $1,008.88 and a two-hundred day moving average price of $961.75. ServiceNow, Inc. has a 52-week low of $678.66 and a 52-week high of $1,198.09.

ServiceNow (NYSE:NOW - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The information technology services provider reported $4.04 earnings per share for the quarter, beating analysts' consensus estimates of $3.78 by $0.26. The company had revenue of $3.09 billion during 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 firm's quarterly revenue was up 18.6% compared to the same quarter last year. During the same period last year, the company posted $3.41 earnings per share. Analysts predict that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

Insider Transactions at ServiceNow

In other news, CEO William R. Mcdermott sold 2,050 shares of the company's stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $1,012.01, for a total transaction of $2,074,620.50. Following the transaction, the chief executive officer directly owned 6,614 shares in the company, valued at approximately $6,693,434.14. This represents a 23.66% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Anita M. Sands sold 239 shares of the business's stock in a transaction that occurred on Thursday, July 3rd. The stock was sold at an average price of $1,050.00, for a total transaction of $250,950.00. Following the completion of the transaction, the director owned 10,404 shares of the company's stock, valued at $10,924,200. This trade represents a 2.25% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 6,955 shares of company stock worth $6,862,195. Corporate insiders own 0.38% of the company's stock.

Analyst Ratings Changes

NOW has been the topic of several research analyst reports. Scotiabank set a $1,100.00 price objective on shares of ServiceNow and gave the stock an "outperform" rating in a research note on Wednesday, May 7th. Bank of America dropped their price objective on shares of ServiceNow from $1,280.00 to $1,025.00 and set a "buy" rating on the stock in a report on Tuesday, April 15th. BMO Capital Markets upped their price objective on shares of ServiceNow from $1,025.00 to $1,150.00 and gave the company an "outperform" rating in a research report on Wednesday, May 14th. Piper Sandler decreased their target price on ServiceNow from $1,200.00 to $1,120.00 and set an "overweight" rating on the stock in a research report on Thursday, April 24th. Finally, Barclays set a $1,085.00 price target on ServiceNow in a research note on Wednesday, May 7th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, thirty have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, ServiceNow currently has a consensus rating of "Moderate Buy" and an average target price of $1,068.23.

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.

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