ServiceNow, Inc. (NYSE:NOW) Shares Sold by Cambridge Investment Research Advisors Inc.

Cambridge Investment Research Advisors Inc. trimmed its position in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 5.6% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 22,747 shares of the information technology services provider's stock after selling 1,349 shares during the period. Cambridge Investment Research Advisors Inc.'s holdings in ServiceNow were worth $18,109,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in NOW. Onefund LLC increased its stake in shares of ServiceNow by 2.0% in the fourth quarter. Onefund LLC now owns 552 shares of the information technology services provider's stock valued at $585,000 after purchasing an additional 11 shares during the period. Cassady Schiller Wealth Management LLC increased its stake in shares of ServiceNow by 44.0% in the fourth quarter. Cassady Schiller Wealth Management LLC now owns 36 shares of the information technology services provider's stock valued at $38,000 after purchasing an additional 11 shares during the period. Plancorp LLC increased its stake in shares of ServiceNow by 4.1% in the fourth quarter. Plancorp LLC now owns 308 shares of the information technology services provider's stock valued at $327,000 after purchasing an additional 12 shares during the period. Kesler Norman & Wride LLC increased its stake in shares of ServiceNow by 1.2% in the fourth quarter. Kesler Norman & Wride LLC now owns 1,092 shares of the information technology services provider's stock valued at $1,157,000 after purchasing an additional 13 shares during the period. Finally, Sepio Capital LP increased its stake in shares of ServiceNow by 3.8% in the fourth quarter. Sepio Capital LP now owns 359 shares of the information technology services provider's stock valued at $381,000 after purchasing an additional 13 shares during the period. 87.18% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on NOW. Erste Group Bank upgraded shares of ServiceNow from a "hold" rating to a "strong-buy" rating in a report on Wednesday, April 30th. Wells Fargo & Company raised their price objective on shares of ServiceNow from $1,100.00 to $1,150.00 and gave the company an "overweight" rating in a research note on Thursday, April 24th. Barclays set a $1,085.00 price objective on shares of ServiceNow in a research note on Wednesday, May 7th. Oppenheimer reiterated an "outperform" rating and set a $1,100.00 price objective (up previously from $970.00) on shares of ServiceNow in a research note on Tuesday, May 6th. Finally, Truist Financial upgraded shares of ServiceNow from a "hold" rating to a "buy" rating and raised their price objective for the company from $950.00 to $1,200.00 in a research note on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, twenty-nine have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $1,062.50.

ServiceNow Trading Up 0.9%

ServiceNow stock opened at $979.72 on Tuesday. The company has a 50 day moving average price of $968.01 and a 200 day moving average price of $968.25. ServiceNow, Inc. has a 52 week low of $678.66 and a 52 week high of $1,198.09. 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 firm has a market capitalization of $202.78 billion, a price-to-earnings ratio of 133.11, a P/E/G ratio of 4.48 and a beta of 0.96.

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 analysts' consensus estimates of $3.78 by $0.26. The firm had revenue of $3.09 billion during 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 company's revenue was up 18.6% on a year-over-year basis. During the same quarter last year, the business posted $3.41 EPS. Research analysts forecast that ServiceNow, Inc. will post 8.93 EPS for the current year.

Insider Buying and Selling at ServiceNow

In other ServiceNow news, CEO William R. Mcdermott sold 2,050 shares of ServiceNow stock in a transaction on Friday, May 30th. The shares were sold at an average price of $1,012.01, for a total transaction of $2,074,620.50. Following the completion of the sale, the chief executive officer now owns 6,614 shares of the company's stock, valued at $6,693,434.14. This trade represents a 23.66% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Jacqueline P. Canney sold 354 shares of the firm's stock in a transaction on Wednesday, April 16th. The shares were sold at an average price of $804.61, for a total transaction of $284,831.94. Following the transaction, the insider now owns 3,027 shares in the company, valued at $2,435,554.47. This represents a 10.47% decrease in their position. The disclosure for this sale can be found here. Insiders sold 6,716 shares of company stock valued at $6,611,245 in the last quarter. Company insiders own 0.38% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.