ServiceNow, Inc. (NYSE:NOW) Shares Sold by CHURCHILL MANAGEMENT Corp

CHURCHILL MANAGEMENT Corp lessened its holdings in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 47.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,886 shares of the information technology services provider's stock after selling 6,105 shares during the period. CHURCHILL MANAGEMENT Corp's holdings in ServiceNow were worth $5,482,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. GAMMA Investing LLC grew its position in ServiceNow by 87,501.3% during 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 purchasing an additional 2,686,291 shares during the period. Norges Bank acquired a new position in shares of ServiceNow in the 4th quarter valued at about $2,603,360,000. Proficio Capital Partners LLC boosted its stake in shares of 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 buying an additional 666,383 shares during the last quarter. Price T Rowe Associates Inc. MD grew 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 acquiring an additional 509,467 shares during the period. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its holdings in ServiceNow by 36.7% during the fourth 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 acquiring an additional 491,861 shares during the period. 87.18% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at ServiceNow

In other ServiceNow news, Director Jonathan Chadwick sold 770 shares of the business's stock in a transaction on Monday, April 28th. The stock was sold at an average price of $931.62, for a total transaction of $717,347.40. Following the transaction, the director owned 3,205 shares of the company's stock, valued at approximately $2,985,842.10. The trade was a 19.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Deborah Black sold 598 shares of the company's stock in a transaction on Friday, April 25th. The shares were sold at an average price of $940.23, for a total value of $562,257.54. Following the completion of the sale, the director owned 428 shares of the company's stock, valued at approximately $402,418.44. The trade was a 58.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 6,716 shares of company stock worth $6,611,245. 0.38% of the stock is owned by company insiders.

ServiceNow Trading Up 0.7%

Shares of NOW opened at $1,029.17 on Tuesday. ServiceNow, Inc. has a 52-week low of $678.66 and a 52-week high of $1,198.09. The stock has a market cap of $213.02 billion, a PE ratio of 139.83, a price-to-earnings-growth ratio of 4.70 and a beta of 0.96. The firm's fifty day moving average is $991.05 and its two-hundred day moving average is $964.06. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.15.

ServiceNow (NYSE:NOW - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The information technology services provider reported $4.04 earnings per share 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 firm had revenue of $3.09 billion for the quarter, compared to the consensus estimate of $3.09 billion. During the same period last year, the firm posted $3.41 earnings per share. The company's revenue for the quarter was up 18.6% on a year-over-year basis. Research analysts forecast that ServiceNow, Inc. will post 8.93 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have issued reports on NOW. Guggenheim boosted their price target on ServiceNow from $716.00 to $724.00 and gave the company a "sell" rating in a report on Thursday, April 24th. UBS Group reaffirmed a "buy" rating and set a $1,025.00 target price (up from $900.00) on shares of ServiceNow in a report on Thursday, April 24th. JMP Securities reissued a "market outperform" rating and set a $1,300.00 price target on shares of ServiceNow in a report on Tuesday, May 6th. Citigroup raised their price target on shares of ServiceNow from $1,128.00 to $1,160.00 and gave the company a "buy" rating in a research report on Wednesday, May 7th. Finally, Bank of America decreased their price objective on shares of ServiceNow from $1,280.00 to $1,025.00 and set a "buy" rating for the company in a research report on Tuesday, April 15th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, thirty-one have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, ServiceNow presently has a consensus rating of "Moderate Buy" and an average price target of $1,065.32.

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.

Want to see what other hedge funds are holding NOW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ServiceNow, Inc. (NYSE:NOW - Free Report).

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.