Salvus Wealth Management LLC Decreases Stake in ServiceNow, Inc. (NYSE:NOW)

Salvus Wealth Management LLC lowered its holdings in ServiceNow, Inc. (NYSE:NOW - Free Report) by 28.0% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 709 shares of the information technology services provider's stock after selling 276 shares during the quarter. Salvus Wealth Management LLC's holdings in ServiceNow were worth $564,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of NOW. Brighton Jones LLC grew its stake in shares of ServiceNow by 1.1% in the fourth quarter. Brighton Jones LLC now owns 2,753 shares of the information technology services provider's stock valued at $2,919,000 after buying an additional 30 shares in the last quarter. Union Bancaire Privee UBP SA acquired a new stake in shares of ServiceNow during the fourth quarter worth about $48,802,000. Stock Yards Bank & Trust Co. boosted its stake in shares of ServiceNow by 22.1% in the fourth quarter. Stock Yards Bank & Trust Co. now owns 276 shares of the information technology services provider's stock valued at $293,000 after purchasing an additional 50 shares during the period. Tanager Wealth Management LLP acquired a new position in shares of ServiceNow in the fourth quarter valued at approximately $212,000. Finally, Sargent Investment Group LLC grew its holdings in shares of ServiceNow by 11.8% in the fourth quarter. Sargent Investment Group LLC now owns 294 shares of the information technology services provider's stock valued at $299,000 after purchasing an additional 31 shares in the last quarter. Institutional investors and hedge funds own 87.18% of the company's stock.

ServiceNow Stock Performance

NYSE NOW traded up $13.10 on Friday, reaching $1,030.70. The stock had a trading volume of 956,231 shares, compared to its average volume of 1,483,043. The stock has a market cap of $213.34 billion, a P/E ratio of 150.91, a price-to-earnings-growth ratio of 4.51 and a beta of 0.95. ServiceNow, Inc. has a 12-month low of $678.66 and a 12-month high of $1,198.09. The business's 50-day moving average price is $915.04 and its 200 day moving average price is $974.91. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.10 and a current ratio of 1.10.

ServiceNow (NYSE:NOW - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The information technology services provider reported $4.04 EPS for the quarter, beating analysts' consensus estimates of $3.78 by $0.26. ServiceNow had a net margin of 12.97% and a return on equity of 17.11%. The business had revenue of $3.09 billion during the quarter, compared to analysts' expectations of $3.09 billion. During the same period in the prior year, the company earned $3.41 earnings per share. The business's revenue was up 18.6% compared to the same quarter last year. As a group, equities analysts expect that ServiceNow, Inc. will post 8.93 earnings per share for the current year.

Analysts Set New Price Targets

NOW has been the subject of several recent research reports. Jefferies Financial Group decreased their price target on shares of ServiceNow from $1,250.00 to $1,025.00 and set a "buy" rating for the company in a research report on Tuesday, April 15th. Morgan Stanley increased their price objective on ServiceNow from $881.00 to $950.00 and gave the company an "equal weight" rating in a research note on Thursday, April 24th. The Goldman Sachs Group reissued a "buy" rating on shares of ServiceNow in a research note on Thursday, April 24th. Robert W. Baird increased their price target on ServiceNow from $1,010.00 to $1,150.00 and gave the company an "outperform" rating in a research report on Thursday, April 24th. Finally, BMO Capital Markets lifted their price objective on ServiceNow from $1,025.00 to $1,150.00 and gave the company an "outperform" rating in a research note on Wednesday, May 14th. One analyst has rated the stock with a sell rating, two have issued a hold rating, thirty have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $1,062.50.

Insiders Place Their Bets

In related news, Vice Chairman Nicholas Tzitzon sold 1,171 shares of the firm's stock in a transaction dated Friday, May 30th. The shares were sold at an average price of $1,020.00, for a total value of $1,194,420.00. Following the completion of the sale, the insider now owns 3,000 shares in the company, valued at $3,060,000. This trade represents a 28.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO William R. Mcdermott sold 2,050 shares of ServiceNow stock in a transaction that occurred 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 completion of the sale, the chief executive officer now directly owns 6,614 shares in the company, valued at $6,693,434.14. This represents a 23.66% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 6,716 shares of company stock valued at $6,611,245. 0.38% of the stock is owned by company insiders.

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.