Mutual Advisors LLC Has $1.97 Million Position in ServiceNow, Inc. (NYSE:NOW)

Mutual Advisors LLC lowered its position in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 31.7% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,472 shares of the information technology services provider's stock after selling 1,147 shares during the quarter. Mutual Advisors LLC's holdings in ServiceNow were worth $1,968,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the company. Cassady Schiller Wealth Management LLC grew its stake in shares of ServiceNow by 44.0% in the fourth quarter. Cassady Schiller Wealth Management LLC now owns 36 shares of the information technology services provider's stock valued at $38,000 after acquiring an additional 11 shares in the last quarter. Plancorp LLC grew its stake in ServiceNow by 4.1% during the fourth quarter. Plancorp LLC now owns 308 shares of the information technology services provider's stock worth $327,000 after buying an additional 12 shares in the last quarter. Kesler Norman & Wride LLC grew its stake in ServiceNow by 1.2% during the fourth quarter. Kesler Norman & Wride LLC now owns 1,092 shares of the information technology services provider's stock worth $1,157,000 after buying an additional 13 shares in the last quarter. Sepio Capital LP grew its stake in 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 in the last quarter. Finally, Mission Creek Capital Partners Inc. grew its stake in ServiceNow by 0.5% during the fourth quarter. Mission Creek Capital Partners Inc. now owns 2,392 shares of the information technology services provider's stock worth $2,536,000 after buying an additional 13 shares in the last quarter. Institutional investors and hedge funds own 87.18% of the company's stock.

Insider Activity at ServiceNow

In other news, Director Anita M. Sands sold 248 shares of the firm's stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $1,009.14, for a total transaction of $250,266.72. Following the completion of the sale, the director owned 10,643 shares of the company's stock, valued at $10,740,277.02. This trade represents a 2.28% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Vice Chairman Nicholas Tzitzon sold 1,171 shares of the firm's stock in a transaction that occurred on Friday, May 30th. The stock was sold at an average price of $1,020.00, for a total transaction of $1,194,420.00. Following the sale, the insider directly owned 3,000 shares of the company's stock, valued at approximately $3,060,000. This trade represents a 28.07% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 6,716 shares of company stock worth $6,611,245. Corporate insiders own 0.38% of the company's stock.

ServiceNow Trading Up 3.6%

ServiceNow stock traded up $36.27 during mid-day trading on Friday, hitting $1,046.03. 1,205,886 shares of the stock were exchanged, compared to its average volume of 1,487,467. The stock has a market capitalization of $216.51 billion, a price-to-earnings ratio of 142.12, a PEG ratio of 4.80 and a beta of 0.94. ServiceNow, Inc. has a 12 month low of $678.66 and a 12 month high of $1,198.09. 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 firm's fifty day simple moving average is $1,003.94 and its two-hundred day simple moving average is $962.97.

ServiceNow (NYSE:NOW - Get Free Report) last announced 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 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 13.41% and a return on equity of 17.34%. The company's quarterly revenue was up 18.6% on a year-over-year basis. During the same quarter last year, the firm posted $3.41 EPS. Analysts forecast that ServiceNow, Inc. will post 8.93 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on NOW shares. Canaccord Genuity Group reduced their price objective on shares of ServiceNow from $1,275.00 to $900.00 and set a "buy" rating on the stock in a research note on Tuesday, April 22nd. JPMorgan Chase & Co. dropped their target price on shares of ServiceNow from $1,200.00 to $970.00 and set an "overweight" rating for the company in a report on Tuesday, April 22nd. DA Davidson started coverage on shares of ServiceNow in a report on Wednesday, June 25th. They issued a "buy" rating and a $1,150.00 target price for the company. FBN Securities raised shares of ServiceNow to a "strong-buy" rating in a report on Wednesday, June 11th. Finally, Truist Financial raised shares of ServiceNow from a "hold" rating to a "buy" rating and increased their target price for the stock from $950.00 to $1,200.00 in a report on Thursday, May 1st. One analyst has rated the stock with a sell rating, three have issued a hold rating, thirty have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target 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.