Monetta Financial Services Inc. Sells 800 Shares of ServiceNow, Inc. (NYSE:NOW)

Key Points

• Monetta Financial Services Inc. reduced its holdings in ServiceNow, Inc. by 47.1% during the first quarter, now owning 900 shares valued at $717,000 after selling 800 shares.
• ServiceNow reported earnings of $4.09 per share, surpassing analysts' expectations of $3.57, and had a quarterly revenue of $3.22 billion, up 22.4% from the previous year.
• Analysts generally maintain a positive outlook on ServiceNow, with a consensus rating of "Moderate Buy" and an average price target of $1,115.20.

Monetta Financial Services Inc. cut its holdings in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 47.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 900 shares of the information technology services provider's stock after selling 800 shares during the quarter. Monetta Financial Services Inc.'s holdings in ServiceNow were worth $717,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the business. Quarry LP acquired a new position in shares of ServiceNow during the 4th quarter worth about $27,000. Bogart Wealth LLC lifted its stake in ServiceNow by 113.3% in the 1st quarter. Bogart Wealth LLC now owns 32 shares of the information technology services provider's stock valued at $25,000 after purchasing an additional 17 shares during the last quarter. Graybill Wealth Management LTD. bought a new position in ServiceNow during the first quarter worth about $26,000. Heck Capital Advisors LLC acquired a new position in ServiceNow during the fourth quarter worth approximately $37,000. Finally, WASHINGTON TRUST Co increased 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 worth $29,000 after buying an additional 31 shares during the last quarter. 87.18% of the stock is currently owned by institutional investors and hedge funds.

ServiceNow Stock Up 0.7%

Shares of NYSE NOW opened at $911.07 on Thursday. The company has a market cap of $189.50 billion, a price-to-earnings ratio of 114.74, a PEG ratio of 4.08 and a beta of 0.93. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.14. ServiceNow, Inc. has a 12 month low of $678.66 and a 12 month high of $1,198.09. The stock has a 50-day moving average price of $988.58 and a two-hundred day moving average price of $947.68.

ServiceNow (NYSE:NOW - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The information technology services provider reported $4.09 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.57 by $0.52. The business had revenue of $3.22 billion during the quarter, compared to analysts' expectations of $3.12 billion. ServiceNow had a net margin of 13.78% and a return on equity of 18.04%. The firm's quarterly revenue was up 22.4% compared to the same quarter last year. During the same period in the prior year, the company earned $3.13 EPS. As a group, analysts forecast that ServiceNow, Inc. will post 8.93 earnings per share for the current fiscal year.

Insider Activity at ServiceNow

In other ServiceNow news, Director Anita M. Sands sold 428 shares of the stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $1,013.61, for a total value of $433,825.08. Following the completion of the transaction, the director directly owned 10,891 shares in the company, valued at approximately $11,039,226.51. This trade represents a 3.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jacqueline P. Canney sold 145 shares of the business's stock in a transaction dated Friday, May 30th. The stock was sold at an average price of $1,020.00, for a total value of $147,900.00. Following the sale, the insider owned 3,027 shares in the company, valued at approximately $3,087,540. This trade represents a 4.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 5,250 shares of company stock valued at $5,318,667. 0.38% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of analysts have recently issued reports on NOW shares. TD Securities reaffirmed a "buy" rating and issued a $1,100.00 price objective on shares of ServiceNow in a research report on Thursday, April 24th. FBN Securities raised ServiceNow to a "strong-buy" rating in a report on Wednesday, June 11th. BMO Capital Markets upped their price objective on shares of ServiceNow from $1,150.00 to $1,160.00 and gave the company an "outperform" rating in a report on Thursday, July 24th. Sanford C. Bernstein reissued an "outperform" rating and issued a $1,003.00 price objective on shares of ServiceNow in a research report on Thursday, April 24th. Finally, Robert W. Baird raised their target price on shares of ServiceNow from $1,010.00 to $1,150.00 and gave the stock an "outperform" rating in a research note on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, thirty have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $1,115.20.

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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