ServiceNow, Inc. (NYSE:NOW) Shares Sold by Portside Wealth Group LLC

Portside Wealth Group LLC reduced its position in ServiceNow, Inc. (NYSE:NOW - Free Report) by 37.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,498 shares of the information technology services provider's stock after selling 2,714 shares during the period. Portside Wealth Group LLC's holdings in ServiceNow were worth $3,581,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the company. Quarry LP purchased a new stake in ServiceNow in the 4th quarter worth $27,000. Atala Financial Inc purchased a new stake in ServiceNow in the 4th quarter worth $28,000. LFA Lugano Financial Advisors SA purchased a new stake in ServiceNow in the 4th quarter worth $32,000. FPC Investment Advisory Inc. increased its holdings in ServiceNow by 725.0% in the 4th quarter. FPC Investment Advisory Inc. now owns 33 shares of the information technology services provider's stock worth $34,000 after acquiring an additional 29 shares in the last quarter. Finally, Noble Wealth Management PBC purchased a new stake in ServiceNow in the 4th quarter worth $34,000. 87.18% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Piper Sandler cut their price target on shares of ServiceNow from $1,200.00 to $1,120.00 and set an "overweight" rating for the company in a report on Thursday, April 24th. Stifel Nicolaus upped their target price on shares of ServiceNow from $975.00 to $1,050.00 and gave the stock a "buy" rating in a report on Tuesday, May 6th. TD Securities reaffirmed a "buy" rating and set a $1,100.00 target price on shares of ServiceNow in a report on Thursday, April 24th. Guggenheim upped their target price on shares of ServiceNow from $716.00 to $724.00 and gave the stock a "sell" rating in a report on Thursday, April 24th. Finally, Sanford C. Bernstein reaffirmed an "outperform" rating and set a $1,003.00 target price on shares of ServiceNow in a report on Thursday, April 24th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-nine have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $1,062.50.

Insider Activity at ServiceNow

In other ServiceNow news, insider Jacqueline P. Canney sold 354 shares of the firm's stock in a transaction that occurred on Wednesday, April 16th. The shares were sold at an average price of $804.61, for a total transaction of $284,831.94. Following the sale, the insider now owns 3,027 shares of the company's stock, valued at approximately $2,435,554.47. This trade represents a 10.47% 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, CEO William R. Mcdermott sold 2,050 shares of the firm's stock in a transaction that occurred on Friday, May 30th. The stock was sold at an average price of $1,012.01, for a total transaction of $2,074,620.50. Following the sale, the chief executive officer now directly owns 6,614 shares in the company, valued at approximately $6,693,434.14. The trade was a 23.66% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 6,716 shares of company stock valued at $6,611,245 over the last 90 days. 0.38% of the stock is owned by corporate insiders.

ServiceNow Stock Down 0.6%

NYSE:NOW traded down $6.13 during mid-day trading on Wednesday, hitting $1,003.66. The stock had a trading volume of 741,971 shares, compared to its average volume of 1,482,236. The stock has a 50-day simple moving average of $933.88 and a two-hundred day simple moving average of $974.34. The company has a market capitalization of $207.74 billion, a PE ratio of 146.95, a PEG ratio of 4.51 and a beta of 0.95. ServiceNow, Inc. has a twelve month low of $678.66 and a twelve month high of $1,198.09. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.15.

ServiceNow (NYSE:NOW - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The information technology services provider reported $4.04 earnings per share 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 analysts' expectations of $3.09 billion. ServiceNow had a net margin of 12.97% and a return on equity of 17.11%. The firm's revenue was up 18.6% compared to the same quarter last year. During the same quarter last year, the company earned $3.41 earnings per share. On average, equities research analysts anticipate that ServiceNow, Inc. will post 8.93 EPS for the current year.

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.