Raleigh Capital Management Inc. Has $282,000 Holdings in ServiceNow, Inc. (NYSE:NOW)

Raleigh Capital Management Inc. lessened its holdings in ServiceNow, Inc. (NYSE:NOW - Free Report) by 48.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 355 shares of the information technology services provider's stock after selling 335 shares during the quarter. Raleigh Capital Management Inc.'s holdings in ServiceNow were worth $282,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Janus Henderson Group PLC boosted its stake in shares of ServiceNow by 1.5% in the 4th quarter. Janus Henderson Group PLC now owns 824,725 shares of the information technology services provider's stock valued at $874,258,000 after purchasing an additional 12,533 shares during the last quarter. FMR LLC boosted its stake in shares of ServiceNow by 4.9% in the 4th quarter. FMR LLC now owns 5,878,900 shares of the information technology services provider's stock valued at $6,232,339,000 after purchasing an additional 272,506 shares during the last quarter. Nicholas Investment Partners LP boosted its stake in shares of ServiceNow by 223.5% in the 4th quarter. Nicholas Investment Partners LP now owns 2,805 shares of the information technology services provider's stock valued at $2,974,000 after purchasing an additional 1,938 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in ServiceNow by 18.8% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 196,783 shares of the information technology services provider's stock worth $209,103,000 after acquiring an additional 31,125 shares during the last quarter. Finally, Norges Bank bought a new position in ServiceNow during the 4th quarter worth approximately $2,603,360,000. Institutional investors own 87.18% of the company's stock.

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 shares were sold at an average price of $1,012.01, for a total value of $2,074,620.50. Following the transaction, the chief executive officer directly owned 6,614 shares in the company, valued at $6,693,434.14. The trade was a 23.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jonathan Chadwick sold 770 shares of the company's stock in a transaction on Monday, April 28th. The shares were sold at an average price of $931.62, for a total transaction of $717,347.40. Following the completion of the transaction, the director owned 3,205 shares in the company, valued at approximately $2,985,842.10. This represents a 19.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 6,955 shares of company stock valued at $6,862,195. Corporate insiders own 0.38% of the company's stock.

Analysts Set New Price Targets

NOW has been the topic of several recent analyst reports. Truist Financial raised shares of ServiceNow from a "hold" rating to a "buy" rating and lifted their price objective for the stock from $950.00 to $1,200.00 in a research note on Thursday, May 1st. Raymond James Financial cut their price target on shares of ServiceNow from $1,200.00 to $1,000.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 8th. Wall Street Zen lowered shares of ServiceNow from a "buy" rating to a "hold" rating in a research note on Saturday, July 5th. Robert W. Baird lifted their price target on shares of ServiceNow from $1,010.00 to $1,150.00 and gave the company an "outperform" rating in a research note on Thursday, April 24th. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $1,048.00 price target on shares of ServiceNow in a research note on Thursday, April 24th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, thirty have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $1,068.23.

ServiceNow Stock Down 3.4%

NOW traded down $34.85 during trading on Thursday, reaching $978.86. 1,308,960 shares of the stock were exchanged, compared to its average volume of 1,478,018. The stock has a market cap of $202.60 billion, a P/E ratio of 133.00, a price-to-earnings-growth ratio of 4.70 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 stock's 50 day moving average price is $1,008.69 and its two-hundred day moving average price is $962.58. 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 released its quarterly earnings data on Wednesday, April 23rd. The information technology services provider reported $4.04 EPS for the quarter, beating the consensus estimate of $3.78 by $0.26. ServiceNow had a net margin of 13.41% and a return on equity of 17.34%. The firm had revenue of $3.09 billion for the quarter, compared to the consensus estimate of $3.09 billion. During the same period in the previous year, the company earned $3.41 earnings per share. The company's quarterly revenue was up 18.6% on a year-over-year basis. Equities analysts expect that ServiceNow, Inc. will post 8.93 EPS for the current year.

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.