Alpine Woods Capital Investors LLC Lowers Holdings in ServiceNow, Inc. (NYSE:NOW)

Alpine Woods Capital Investors LLC lessened its position in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 80.7% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 328 shares of the information technology services provider's stock after selling 1,370 shares during the period. Alpine Woods Capital Investors LLC's holdings in ServiceNow were worth $261,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Index Fund Advisors Inc. acquired a new stake in ServiceNow in the first quarter worth $307,000. Leavell Investment Management Inc. grew its holdings in ServiceNow by 12.9% in the first quarter. Leavell Investment Management Inc. now owns 262 shares of the information technology services provider's stock worth $209,000 after purchasing an additional 30 shares during the period. Cornerstone Planning Group LLC grew its holdings in ServiceNow by 81.8% in the first quarter. Cornerstone Planning Group LLC now owns 120 shares of the information technology services provider's stock worth $98,000 after purchasing an additional 54 shares during the period. Linden Thomas Advisory Services LLC grew its holdings in ServiceNow by 5.7% in the first quarter. Linden Thomas Advisory Services LLC now owns 5,353 shares of the information technology services provider's stock worth $4,262,000 after purchasing an additional 289 shares during the period. Finally, Greenleaf Trust grew its holdings in ServiceNow by 7.6% in the first quarter. Greenleaf Trust now owns 4,156 shares of the information technology services provider's stock worth $3,309,000 after purchasing an additional 295 shares during the period. Institutional investors own 87.18% of the company's stock.

Wall Street Analysts Forecast Growth

NOW has been the subject of a number of research reports. TD Securities restated a "buy" rating and issued a $1,100.00 price target on shares of ServiceNow in a report on Thursday, April 24th. BMO Capital Markets lifted their price objective on shares of ServiceNow from $1,025.00 to $1,150.00 and gave the company an "outperform" rating in a report on Wednesday, May 14th. Jefferies Financial Group reduced their price objective on shares of ServiceNow from $1,250.00 to $1,025.00 and set a "buy" rating for the company in a report on Tuesday, April 15th. Guggenheim reiterated a "sell" rating and set a $724.00 price objective on shares of ServiceNow in a report on Tuesday, July 8th. Finally, Citigroup lifted their price objective on shares of ServiceNow from $1,128.00 to $1,160.00 and gave the company a "buy" rating in a report on Wednesday, May 7th. One analyst has rated the stock with a sell rating, two have given a hold rating, thirty-one have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, ServiceNow presently has an average rating of "Moderate Buy" and an average price target of $1,068.23.

ServiceNow Stock Performance

NOW traded down $30.97 during midday trading on Friday, reaching $937.12. The company had a trading volume of 2,144,933 shares, compared to its average volume of 1,486,117. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.12 and a current ratio of 1.12. The stock has a market cap of $193.97 billion, a PE ratio of 127.33, a P/E/G ratio of 4.31 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. The business has a 50-day moving average price of $1,008.08 and a two-hundred day moving average price of $958.61.

ServiceNow (NYSE:NOW - Get Free Report) last released its earnings results on Wednesday, April 23rd. The information technology services provider reported $4.04 earnings per share for the quarter, beating analysts' consensus estimates of $3.78 by $0.26. The firm had revenue of $3.09 billion for the quarter, compared to analysts' expectations of $3.09 billion. ServiceNow had a net margin of 13.41% and a return on equity of 17.34%. The company's quarterly revenue 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. On average, sell-side analysts expect that ServiceNow, Inc. will post 8.93 earnings per share for the current fiscal year.

Insider Transactions at ServiceNow

In related news, Vice Chairman Nicholas Tzitzon sold 1,171 shares of the company's stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $1,020.00, for a total transaction of $1,194,420.00. Following the sale, the insider directly owned 3,000 shares in the company, valued at approximately $3,060,000. This represents a 28.07% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Anita M. Sands sold 428 shares of the company's 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 in the company, valued at $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. Over the last quarter, insiders sold 6,955 shares of company stock valued at $6,862,195. Corporate insiders own 0.38% of the company's stock.

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.