ServiceNow, Inc. (NYSE:NOW) Shares Sold by Consolidated Investment Group LLC

Consolidated Investment Group LLC lowered its holdings in ServiceNow, Inc. (NYSE:NOW - Free Report) by 4.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 11,500 shares of the information technology services provider's stock after selling 500 shares during the quarter. ServiceNow accounts for 1.4% of Consolidated Investment Group LLC's holdings, making the stock its 15th biggest position. Consolidated Investment Group LLC's holdings in ServiceNow were worth $9,156,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Vanguard Group Inc. increased its stake in shares of ServiceNow by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 19,199,258 shares of the information technology services provider's stock worth $20,353,517,000 after acquiring an additional 190,430 shares during the period. Price T Rowe Associates Inc. MD boosted 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 buying an additional 509,467 shares in the last quarter. FMR LLC boosted its holdings in ServiceNow by 4.9% during the fourth quarter. FMR LLC now owns 5,878,900 shares of the information technology services provider's stock worth $6,232,339,000 after buying an additional 272,506 shares in the last quarter. Geode Capital Management LLC boosted its holdings in ServiceNow by 2.4% during the fourth quarter. Geode Capital Management LLC now owns 4,312,571 shares of the information technology services provider's stock worth $4,560,890,000 after buying an additional 100,670 shares in the last quarter. Finally, GAMMA Investing LLC boosted its holdings in ServiceNow by 87,501.3% during the first 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 in the last quarter. Institutional investors and hedge funds own 87.18% of the company's stock.

Analysts Set New Price Targets

NOW has been the topic of a number of recent analyst reports. Morgan Stanley increased their price target on shares of ServiceNow from $881.00 to $950.00 and gave the stock an "equal weight" rating in a report on Thursday, April 24th. Scotiabank set a $1,100.00 price target on shares of ServiceNow and gave the stock an "outperform" rating in a report on Wednesday, May 7th. 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. Canaccord Genuity Group lowered their price target on shares of ServiceNow from $1,275.00 to $900.00 and set a "buy" rating on the stock in a report on Tuesday, April 22nd. Finally, Citigroup increased their price target on shares of ServiceNow from $1,128.00 to $1,160.00 and gave the stock a "buy" rating in a report on Wednesday, May 7th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-nine have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $1,062.50.

ServiceNow Trading Down 1.3%

Shares of ServiceNow stock opened at $969.78 on Friday. The company has a fifty day simple moving average of $964.42 and a 200-day simple moving average of $970.33. ServiceNow, Inc. has a 12-month low of $678.66 and a 12-month 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 $200.72 billion, a price-to-earnings ratio of 131.76, a PEG ratio of 4.48 and a beta of 0.95.

ServiceNow (NYSE:NOW - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The information technology services provider reported $4.04 earnings per share (EPS) for the quarter, beating 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 analysts' expectations of $3.09 billion. During the same quarter in the prior year, the business posted $3.41 EPS. The company's revenue for the quarter was up 18.6% on a year-over-year basis. On average, equities analysts forecast that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

Insider Activity at ServiceNow

In other ServiceNow news, insider Jacqueline P. Canney sold 354 shares of the company'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 completion of the transaction, the insider now owns 3,027 shares in the company, valued at approximately $2,435,554.47. This represents a 10.47% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO William R. Mcdermott sold 2,050 shares of the company's stock in a transaction on Friday, May 30th. The stock was sold at an average price of $1,012.01, for a total transaction of $2,074,620.50. Following the transaction, the chief executive officer now owns 6,614 shares of the company's stock, valued at approximately $6,693,434.14. The trade was a 23.66% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 6,716 shares of company stock worth $6,611,245 in the last 90 days. 0.38% of the stock is owned by insiders.

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.

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