Ferguson Wellman Capital Management Inc. Sells 49,207 Shares of ServiceNow, Inc. (NYSE:NOW)

Ferguson Wellman Capital Management Inc. reduced its stake in ServiceNow, Inc. (NYSE:NOW - Free Report) by 95.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,408 shares of the information technology services provider's stock after selling 49,207 shares during the quarter. Ferguson Wellman Capital Management Inc.'s holdings in ServiceNow were worth $1,917,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Quarry LP bought a new stake in ServiceNow in the 4th quarter valued at $27,000. Atala Financial Inc acquired a new stake in ServiceNow in the 4th quarter valued at $28,000. LFA Lugano Financial Advisors SA acquired a new stake in ServiceNow in the 4th quarter valued at $32,000. FPC Investment Advisory Inc. increased its stake in ServiceNow by 725.0% in the 4th quarter. FPC Investment Advisory Inc. now owns 33 shares of the information technology services provider's stock valued at $34,000 after buying an additional 29 shares during the last quarter. Finally, Noble Wealth Management PBC acquired a new stake in ServiceNow in the 4th quarter valued at $34,000. 87.18% of the stock is owned by institutional investors.

Insider Activity

In other news, Director Anita M. Sands sold 248 shares of the firm's stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $1,009.14, for a total transaction of $250,266.72. Following the completion of the transaction, the director now owns 10,643 shares of the company's stock, valued at approximately $10,740,277.02. This trade represents a 2.28% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Deborah Black sold 598 shares of ServiceNow stock in a transaction on Friday, April 25th. The stock was sold at an average price of $940.23, for a total transaction of $562,257.54. Following the transaction, the director now directly owns 428 shares of the company's stock, valued at $402,418.44. This represents a 58.28% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 6,716 shares of company stock valued at $6,611,245. Insiders own 0.38% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on NOW. Raymond James lowered their price target on shares of ServiceNow from $1,200.00 to $1,000.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 8th. Piper Sandler lowered their price objective on shares of ServiceNow from $1,200.00 to $1,120.00 and set an "overweight" rating on the stock in a research note on Thursday, April 24th. Stifel Nicolaus boosted their price objective on shares of ServiceNow from $975.00 to $1,050.00 and gave the stock a "buy" rating in a research note on Tuesday, May 6th. Mizuho boosted their price objective on shares of ServiceNow from $1,050.00 to $1,100.00 and gave the stock an "outperform" rating in a research note on Thursday. Finally, JPMorgan Chase & Co. lowered their price objective on shares of ServiceNow from $1,200.00 to $970.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 22nd. One research analyst has rated the stock with a sell rating, three have given a hold rating, twenty-nine have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $1,062.50.

ServiceNow Trading Down 2.0%

Shares of NOW stock traded down $19.66 during trading hours on Friday, hitting $987.71. 1,332,159 shares of the company's stock traded hands, compared to its average volume of 1,483,399. The stock's 50 day simple moving average is $944.56 and its 200 day simple moving average is $972.97. The stock has a market cap of $204.44 billion, a PE ratio of 144.61, a price-to-earnings-growth ratio of 4.51 and a beta of 0.95. ServiceNow, Inc. has a 12 month low of $678.66 and a 12 month high of $1,198.09. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.15.

ServiceNow (NYSE:NOW - Get Free Report) last released its quarterly 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. The firm had revenue of $3.09 billion during the quarter, compared to the consensus estimate of $3.09 billion. ServiceNow had a net margin of 12.97% and a return on equity of 17.11%. The company's revenue for the quarter was up 18.6% on a year-over-year basis. During the same quarter last year, the firm earned $3.41 earnings per share. On average, sell-side analysts anticipate that ServiceNow, Inc. will post 8.93 EPS for the current year.

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.