Burney Co. Sells 5,995 Shares of ServiceNow, Inc. (NYSE:NOW)

Burney Co. decreased its position in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 66.3% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 3,043 shares of the information technology services provider's stock after selling 5,995 shares during the quarter. Burney Co.'s holdings in ServiceNow were worth $2,423,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in NOW. Bogart Wealth LLC lifted its stake in ServiceNow by 113.3% during the first quarter. Bogart Wealth LLC now owns 32 shares of the information technology services provider's stock worth $25,000 after purchasing an additional 17 shares during the last quarter. Graybill Wealth Management LTD. bought a new stake in shares of ServiceNow in the 1st quarter valued at about $26,000. Quarry LP bought a new stake in shares of ServiceNow in the 4th quarter valued at about $27,000. WASHINGTON TRUST Co lifted its stake in shares of ServiceNow by 620.0% in the 1st quarter. WASHINGTON TRUST Co now owns 36 shares of the information technology services provider's stock valued at $29,000 after acquiring an additional 31 shares during the last quarter. Finally, Heck Capital Advisors LLC bought a new stake in shares of ServiceNow in the 4th quarter valued at about $37,000. Institutional investors own 87.18% of the company's stock.

ServiceNow Stock Performance

Shares of NYSE NOW traded down $28.13 during midday trading on Friday, hitting $968.05. 1,998,443 shares of the stock traded hands, compared to its average volume of 1,429,436. The firm has a 50-day moving average of $1,000.33 and a two-hundred day moving average of $952.52. The firm has a market capitalization of $200.37 billion, a P/E ratio of 121.92, a PEG ratio of 4.43 and a beta of 0.94. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.12 and a current ratio of 1.09. ServiceNow, Inc. has a one year low of $678.66 and a one year high of $1,198.09.

ServiceNow (NYSE:NOW - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The information technology services provider reported $4.09 earnings per share for the quarter, beating the consensus estimate of $3.57 by $0.52. The firm had revenue of $3.22 billion for the quarter, compared to analysts' expectations of $3.12 billion. ServiceNow had a return on equity of 18.04% and a net margin of 13.78%. The company's revenue was up 22.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.13 EPS. On average, equities analysts forecast that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

Insider Activity

In related news, Director Anita M. Sands sold 428 shares of the firm's stock in a transaction on 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 transaction, the director directly owned 10,891 shares of the company's stock, valued at approximately $11,039,226.51. This trade represents a 3.78% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jonathan Chadwick sold 770 shares of the firm's stock in a transaction on Monday, April 28th. The stock was sold at an average price of $931.62, for a total value of $717,347.40. Following the completion of the transaction, the director directly owned 3,205 shares in the company, valued at approximately $2,985,842.10. This represents a 19.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 6,003 shares of company stock worth $6,015,106. Insiders own 0.38% of the company's stock.

Analysts Set New Price Targets

NOW has been the topic of a number of research analyst reports. TD Securities restated a "buy" rating and set a $1,100.00 price target on shares of ServiceNow in a report on Thursday, April 24th. JPMorgan Chase & Co. reduced their price target on ServiceNow from $1,200.00 to $970.00 and set an "overweight" rating on the stock in a report on Tuesday, April 22nd. Sanford C. Bernstein restated an "outperform" rating and set a $1,003.00 price target on shares of ServiceNow in a report on Thursday, April 24th. Stifel Nicolaus boosted their price target on ServiceNow from $975.00 to $1,050.00 and gave the company a "buy" rating in a report on Tuesday, May 6th. Finally, JMP Securities restated a "market outperform" rating and set a $1,300.00 price target on shares of ServiceNow in a report on Tuesday, July 22nd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, twenty-nine have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, ServiceNow has a consensus rating of "Moderate Buy" and an average target price of $1,114.87.

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.