ServiceNow, Inc. (NYSE:NOW) Shares Sold by Allworth Financial LP

Allworth Financial LP decreased its holdings in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 49.9% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,309 shares of the information technology services provider's stock after selling 1,304 shares during the period. Allworth Financial LP's holdings in ServiceNow were worth $1,042,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. GAMMA Investing LLC grew its stake 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 buying an additional 2,686,291 shares during the last quarter. Norges Bank purchased a new stake in ServiceNow during the fourth quarter valued at $2,603,360,000. Price T Rowe Associates Inc. MD boosted its holdings in shares of ServiceNow by 6.8% in 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 buying an additional 509,467 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its stake in shares of ServiceNow by 36.7% in the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 1,830,419 shares of the information technology services provider's stock worth $1,940,464,000 after purchasing an additional 491,861 shares in the last quarter. Finally, Cohen Investment Advisors LLC raised its stake in ServiceNow by 7,971.1% during the 1st quarter. Cohen Investment Advisors LLC now owns 353,597 shares of the information technology services provider's stock worth $281,513,000 after acquiring an additional 349,216 shares during the period. Hedge funds and other institutional investors own 87.18% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on NOW shares. Barclays set a $1,085.00 price objective on ServiceNow in a research note on Wednesday, May 7th. Robert W. Baird boosted their price objective on ServiceNow from $1,010.00 to $1,150.00 and gave the stock an "outperform" rating in a research note on Thursday, April 24th. Morgan Stanley restated an "equal weight" rating on shares of ServiceNow in a report on Tuesday, July 8th. FBN Securities raised ServiceNow to a "strong-buy" rating in a research note on Wednesday, June 11th. Finally, Wall Street Zen upgraded ServiceNow from a "hold" rating to a "buy" rating in a report on Sunday. One investment analyst has rated the stock with a sell rating, two have given a hold rating, thirty-one have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $1,068.23.

Insiders Place Their Bets

In related news, Director Deborah Black sold 598 shares of the company's stock in a transaction that occurred on Friday, April 25th. The stock was 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Anita M. Sands sold 428 shares of ServiceNow stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $1,013.61, for a total transaction of $433,825.08. Following the sale, the director owned 10,891 shares of the company's stock, valued at approximately $11,039,226.51. The trade was a 3.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 6,955 shares of company stock valued at $6,862,195. Insiders own 0.38% of the company's stock.

ServiceNow Stock Up 2.5%

Shares of NOW stock traded up $23.10 during trading hours on Monday, reaching $961.88. 1,812,471 shares of the company's stock were exchanged, compared to its average volume of 1,699,326. ServiceNow, Inc. has a 1 year low of $678.66 and a 1 year high of $1,198.09. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.15. The stock has a market cap of $199.09 billion, a PE ratio of 130.69, a PEG ratio of 4.31 and a beta of 0.94. The stock's fifty day moving average price is $1,008.08 and its two-hundred day moving average price is $958.61.

ServiceNow (NYSE:NOW - Get Free Report) last posted its quarterly earnings data 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 13.41% and a return on equity of 17.34%. The business had revenue of $3.09 billion during the quarter, compared to the consensus estimate of $3.09 billion. During the same period in the previous year, the firm posted $3.41 earnings per share. The business's revenue for the quarter was up 18.6% compared to the same quarter last year. Research analysts predict that ServiceNow, Inc. will post 8.93 EPS for the current year.

ServiceNow 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.