Pinnacle Financial Partners Inc Sells 327 Shares of ServiceNow, Inc. (NYSE:NOW)

Pinnacle Financial Partners Inc reduced its position in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 1.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 30,857 shares of the information technology services provider's stock after selling 327 shares during the quarter. Pinnacle Financial Partners Inc's holdings in ServiceNow were worth $24,566,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Quarry LP acquired a new stake in ServiceNow during the 4th quarter worth about $27,000. Atala Financial Inc acquired a new position in ServiceNow in the 4th quarter valued at approximately $28,000. WASHINGTON TRUST Co lifted its position in ServiceNow by 620.0% in the 1st 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 in the last quarter. LFA Lugano Financial Advisors SA acquired a new stake in shares of ServiceNow during the 4th quarter valued at $32,000. Finally, Heck Capital Advisors LLC purchased a new position in shares of ServiceNow during the 4th quarter valued at $37,000. Hedge funds and other institutional investors own 87.18% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on NOW shares. Royal Bank Of Canada increased their price objective on ServiceNow from $1,060.00 to $1,100.00 and gave the stock an "outperform" rating in a report on Tuesday, May 6th. Oppenheimer reaffirmed an "outperform" rating and set a $1,100.00 price target (up from $970.00) on shares of ServiceNow in a research note on Tuesday, May 6th. Scotiabank set a $1,100.00 price objective on shares of ServiceNow and gave the company an "outperform" rating in a research report on Wednesday, May 7th. Mizuho boosted their target price on shares of ServiceNow from $1,050.00 to $1,100.00 and gave the stock an "outperform" rating in a research report on Thursday, June 12th. Finally, Morgan Stanley increased their price target on shares of ServiceNow from $950.00 to $1,040.00 and gave the stock an "equal weight" rating in a research note on Wednesday. One research analyst has rated the stock with a sell rating, two have issued a hold rating, thirty-one have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $1,068.23.

ServiceNow Stock Performance

Shares of NYSE NOW traded down $3.11 during trading hours on Wednesday, reaching $1,008.78. The stock had a trading volume of 871,420 shares, compared to its average volume of 1,481,334. The company has a market cap of $208.80 billion, a price-to-earnings ratio of 137.06, a PEG ratio of 4.72 and a beta of 0.94. ServiceNow, Inc. has a twelve month low of $678.66 and a twelve month high of $1,198.09. The business's fifty day moving average is $995.96 and its two-hundred day moving average is $964.39. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.12 and a quick ratio of 1.12.

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 (EPS) for the quarter, beating the consensus estimate of $3.78 by $0.26. The firm had revenue of $3.09 billion for the quarter, compared to analyst estimates of $3.09 billion. ServiceNow had a net margin of 13.41% and a return on equity of 17.34%. The business's revenue for the quarter was up 18.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.41 EPS. As a group, research analysts expect that ServiceNow, Inc. will post 8.93 EPS for the current year.

Insider Transactions at ServiceNow

In other ServiceNow news, CEO William R. Mcdermott sold 2,050 shares of the company's stock in a transaction on Friday, May 30th. The stock was sold at an average price of $1,012.01, for a total value of $2,074,620.50. Following the sale, the chief executive officer directly owned 6,614 shares in the company, valued at $6,693,434.14. This represents a 23.66% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Anita M. Sands sold 428 shares of ServiceNow stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $1,013.61, for a total value of $433,825.08. Following the transaction, the director directly owned 10,891 shares of the company's stock, valued at approximately $11,039,226.51. The trade was a 3.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 6,716 shares of company stock valued at $6,611,245. Corporate insiders own 0.38% of the company's stock.

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.