Segall Bryant & Hamill LLC Cuts Stock Position in ServiceNow, Inc. (NYSE:NOW)

Segall Bryant & Hamill LLC reduced its holdings in ServiceNow, Inc. (NYSE:NOW - Free Report) by 9.0% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 55,443 shares of the information technology services provider's stock after selling 5,453 shares during the quarter. ServiceNow makes up about 0.7% of Segall Bryant & Hamill LLC's portfolio, making the stock its 22nd largest holding. Segall Bryant & Hamill LLC's holdings in ServiceNow were worth $44,140,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of NOW. Vanguard Group Inc. lifted its holdings in ServiceNow by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 19,199,258 shares of the information technology services provider's stock worth $20,353,517,000 after acquiring an additional 190,430 shares during the period. Price T Rowe Associates Inc. MD grew its position in ServiceNow by 6.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 7,955,924 shares of the information technology services provider's stock valued at $8,434,235,000 after buying an additional 509,467 shares during the period. FMR LLC increased its holdings in ServiceNow by 4.9% during the fourth quarter. FMR LLC now owns 5,878,900 shares of the information technology services provider's stock worth $6,232,339,000 after buying an additional 272,506 shares during the last quarter. Geode Capital Management LLC raised its position in ServiceNow by 2.4% in the fourth quarter. Geode Capital Management LLC now owns 4,312,571 shares of the information technology services provider's stock worth $4,560,890,000 after acquiring an additional 100,670 shares during the period. Finally, GAMMA Investing LLC grew its position in shares of ServiceNow by 87,501.3% during the 1st quarter. GAMMA Investing LLC now owns 2,689,361 shares of the information technology services provider's stock valued at $2,141,108,000 after acquiring an additional 2,686,291 shares during the period. Institutional investors own 87.18% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Citigroup lifted their price objective on ServiceNow from $1,128.00 to $1,160.00 and gave the stock a "buy" rating in a report on Wednesday, May 7th. Erste Group Bank upgraded shares of ServiceNow from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, April 30th. Oppenheimer restated 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. Barclays set a $1,085.00 price objective on shares of ServiceNow in a research note on Wednesday, May 7th. Finally, Morgan Stanley reiterated an "equal weight" rating on shares of ServiceNow in a research report on Tuesday, July 8th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, thirty-one have given a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, ServiceNow currently has a consensus rating of "Moderate Buy" and a consensus price target of $1,073.13.

ServiceNow Price Performance

ServiceNow stock traded down $8.19 during mid-day trading on Thursday, reaching $958.78. 938,390 shares of the company's stock traded hands, compared to its average volume of 1,486,989. The stock has a 50 day moving average of $1,007.21 and a two-hundred day moving average of $957.83. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.15. The company has a market cap of $198.45 billion, a price-to-earnings ratio of 130.11, a PEG ratio of 4.40 and a beta of 0.94. ServiceNow, Inc. has a 12-month low of $678.66 and a 12-month high of $1,198.09.

ServiceNow (NYSE:NOW - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The information technology services provider reported $4.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.78 by $0.26. The business 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 period in the previous year, the company earned $3.41 earnings per share. Equities analysts forecast that ServiceNow, Inc. will post 8.93 earnings per share for the current year.

Insider Transactions at ServiceNow

In other news, Director Deborah Black sold 598 shares of the stock in a transaction on Friday, April 25th. The shares were sold at an average price of $940.23, for a total value of $562,257.54. Following the sale, the director owned 428 shares in the company, valued at $402,418.44. This represents a 58.28% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Vice Chairman Nicholas Tzitzon sold 1,171 shares of the company's stock in a transaction dated Friday, May 30th. The stock was 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 owned 3,000 shares in the company, valued at $3,060,000. The trade was a 28.07% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 6,601 shares of company stock worth $6,577,363 over the last ninety days. 0.38% of the stock is currently owned by 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.