ServiceNow, Inc. (NYSE:NOW) Stock Position Lifted by BTC Capital Management Inc.

BTC Capital Management Inc. lifted its position in ServiceNow, Inc. (NYSE:NOW - Free Report) by 32.9% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,312 shares of the information technology services provider's stock after purchasing an additional 325 shares during the quarter. BTC Capital Management Inc.'s holdings in ServiceNow were worth $1,045,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the company. GAMMA Investing LLC lifted its holdings in shares of ServiceNow by 87,501.3% in the 1st quarter. GAMMA Investing LLC now owns 2,689,361 shares of the information technology services provider's stock worth $2,141,108,000 after acquiring an additional 2,686,291 shares during the last quarter. Norges Bank purchased a new position in ServiceNow in the fourth quarter worth approximately $2,603,360,000. Proficio Capital Partners LLC lifted its stake in ServiceNow by 154,255.3% in the fourth quarter. Proficio Capital Partners LLC now owns 666,815 shares of the information technology services provider's stock worth $667,000 after acquiring an additional 666,383 shares during the last quarter. Alphinity Investment Management Pty Ltd purchased a new position in ServiceNow in the fourth quarter worth approximately $682,468,000. Finally, Price T Rowe Associates Inc. MD raised its holdings 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 worth $8,434,235,000 after purchasing an additional 509,467 shares in the last quarter. Hedge funds and other institutional investors own 87.18% of the company's stock.

Analyst Ratings Changes

Several analysts recently commented on the stock. Canaccord Genuity Group reduced their price target on shares of ServiceNow from $1,275.00 to $900.00 and set a "buy" rating for the company in a research report on Tuesday, April 22nd. UBS Group reissued a "buy" rating and issued a $1,025.00 price objective (up from $900.00) on shares of ServiceNow in a research note on Thursday, April 24th. Stifel Nicolaus boosted their price objective on shares of ServiceNow from $975.00 to $1,050.00 and gave the company a "buy" rating in a research note on Tuesday, May 6th. Robert W. Baird boosted their target price on shares of ServiceNow from $1,010.00 to $1,150.00 and gave the stock an "outperform" rating in a research report on Thursday, April 24th. Finally, Citigroup boosted their target price on shares of ServiceNow from $1,128.00 to $1,160.00 and gave the stock a "buy" rating in a research report on Wednesday, May 7th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, thirty have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $1,062.50.

Insider Buying and Selling at ServiceNow

In other news, Director Anita M. Sands sold 428 shares of the company's stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $1,013.61, for a total value of $433,825.08. Following the completion of the sale, the director now owns 10,891 shares of the company's stock, valued at $11,039,226.51. This represents a 3.78% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel Russell S. Elmer sold 191 shares of the company's stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $985.00, for a total value of $188,135.00. Following the completion of the sale, the general counsel now directly owns 4,332 shares of the company's stock, valued at $4,267,020. The trade was a 4.22% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 3,102 shares of company stock valued at $2,944,038. Company insiders own 0.38% of the company's stock.

ServiceNow Trading Down 0.3%

NYSE:NOW traded down $3.43 on Friday, reaching $1,011.80. The stock had a trading volume of 2,663,194 shares, compared to its average volume of 1,505,352. The company has a market cap of $209.43 billion, a price-to-earnings ratio of 148.14, a P/E/G ratio of 4.51 and a beta of 0.97. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.10 and a quick ratio of 1.10. The firm's fifty day moving average is $899.20 and its two-hundred day moving average is $974.75. ServiceNow, Inc. has a 12-month low of $645.45 and a 12-month high of $1,198.09.

ServiceNow (NYSE:NOW - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The information technology services provider reported $4.04 EPS for the quarter, topping the consensus estimate of $3.78 by $0.26. ServiceNow had a net margin of 12.97% and a return on equity of 17.11%. The firm had revenue of $3.09 billion during the quarter, compared to analyst estimates of $3.09 billion. During the same quarter in the prior year, the business posted $3.41 earnings per share. ServiceNow's revenue for the quarter was up 18.6% compared to the same quarter last year. Equities analysts expect 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.