ServiceNow, Inc. (NYSE:NOW) Shares Sold by QRG Capital Management Inc.

QRG Capital Management Inc. lowered its stake in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 3.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 13,945 shares of the information technology services provider's stock after selling 482 shares during the quarter. QRG Capital Management Inc.'s holdings in ServiceNow were worth $11,102,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of the stock. Quarry LP purchased a new stake in ServiceNow during the 4th quarter worth about $27,000. Atala Financial Inc purchased a new position in ServiceNow in the fourth quarter valued at approximately $28,000. LFA Lugano Financial Advisors SA purchased a new stake in ServiceNow in the fourth quarter valued at $32,000. Noble Wealth Management PBC acquired a new position in ServiceNow during the fourth quarter worth approximately $34,000. Finally, FPC Investment Advisory Inc. lifted its stake in ServiceNow by 725.0% in the fourth quarter. FPC Investment Advisory Inc. now owns 33 shares of the information technology services provider's stock valued at $34,000 after buying an additional 29 shares during the last quarter. 87.18% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

NOW has been the topic of a number of recent research reports. Citigroup lifted their target price on shares of ServiceNow from $1,128.00 to $1,160.00 and gave the company a "buy" rating in a report on Wednesday, May 7th. TD Securities reaffirmed a "buy" rating and issued a $1,100.00 target price on shares of ServiceNow in a report on Thursday, April 24th. Oppenheimer reissued an "outperform" rating and set a $1,100.00 price target (up previously from $970.00) on shares of ServiceNow in a report on Tuesday, May 6th. JPMorgan Chase & Co. decreased their price objective on ServiceNow from $1,200.00 to $970.00 and set an "overweight" rating for the company in a research report on Tuesday, April 22nd. Finally, Wall Street Zen lowered ServiceNow from a "buy" rating to a "hold" rating in a report on Monday, June 9th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-nine have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, ServiceNow currently has a consensus rating of "Moderate Buy" and an average price target of $1,062.50.

Insider Activity at ServiceNow

In other ServiceNow news, insider Jacqueline P. Canney sold 66 shares of the stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $1,023.00, for a total transaction of $67,518.00. Following the transaction, the insider now owns 3,027 shares of the company's stock, valued at $3,096,621. This trade represents a 2.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Jonathan Chadwick sold 770 shares of the company's stock in a transaction on Monday, April 28th. The stock was sold at an average price of $931.62, for a total value of $717,347.40. Following the sale, the director now owns 3,205 shares of the company's stock, valued at approximately $2,985,842.10. The trade was a 19.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 6,716 shares of company stock worth $6,611,245. 0.38% of the stock is currently owned by insiders.

ServiceNow Price Performance

NOW stock traded down $14.64 during trading on Wednesday, hitting $990.27. The stock had a trading volume of 293,652 shares, compared to its average volume of 1,476,734. ServiceNow, Inc. has a 1-year low of $678.66 and a 1-year high of $1,198.09. The stock has a market cap of $204.97 billion, a price-to-earnings ratio of 134.77, a price-to-earnings-growth ratio of 4.63 and a beta of 0.95. The company's 50 day moving average price is $953.73 and its two-hundred day moving average price is $972.40. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.12 and a current ratio of 1.12.

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 (EPS) for the quarter, topping analysts' consensus estimates 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%. ServiceNow's revenue was up 18.6% compared to the same quarter last year. During the same quarter last year, the business earned $3.41 earnings per share. On average, sell-side analysts forecast that ServiceNow, Inc. will post 8.93 EPS for the current fiscal 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.