ServiceNow, Inc. (NYSE:NOW) Stock Position Reduced by GFG Capital LLC

GFG Capital LLC cut its position in ServiceNow, Inc. (NYSE:NOW - Free Report) by 16.9% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,904 shares of the information technology services provider's stock after selling 2,422 shares during the quarter. ServiceNow accounts for 2.8% of GFG Capital LLC's holdings, making the stock its 10th largest holding. GFG Capital LLC's holdings in ServiceNow were worth $9,477,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in NOW. Brighton Jones LLC lifted its stake in ServiceNow by 1.1% in the fourth quarter. Brighton Jones LLC now owns 2,753 shares of the information technology services provider's stock worth $2,919,000 after acquiring an additional 30 shares during the last quarter. Proficio Capital Partners LLC grew its position in shares of ServiceNow by 45.6% in the 4th quarter. Proficio Capital Partners LLC now owns 629 shares of the information technology services provider's stock valued at $667,000 after buying an additional 197 shares during the last quarter. Larson Financial Group LLC lifted its position in ServiceNow by 7.3% in the fourth quarter. Larson Financial Group LLC now owns 440 shares of the information technology services provider's stock valued at $466,000 after acquiring an additional 30 shares during the last quarter. AlphaQuest LLC purchased a new position in shares of ServiceNow during the fourth quarter worth about $131,000. Finally, NBT Bank N A NY lifted its holdings in shares of ServiceNow by 35.1% in the 4th quarter. NBT Bank N A NY now owns 1,089 shares of the information technology services provider's stock valued at $1,154,000 after purchasing an additional 283 shares during the last quarter. 87.18% of the stock is owned by hedge funds and other institutional investors.

ServiceNow Stock Down 0.8%

NOW traded down $7.81 on Wednesday, hitting $1,015.17. The company had a trading volume of 1,146,714 shares, compared to its average volume of 1,482,093. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.12 and a quick ratio of 1.12. ServiceNow, Inc. has a 52-week low of $678.66 and a 52-week high of $1,198.09. The stock has a fifty day simple moving average of $1,007.49 and a 200-day simple moving average of $962.22. The firm has a market capitalization of $210.12 billion, a P/E ratio of 137.93, a P/E/G ratio of 4.75 and a beta of 0.94.

ServiceNow (NYSE:NOW - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The information technology services provider reported $4.04 EPS 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 business had revenue of $3.09 billion during the quarter, compared to analyst estimates of $3.09 billion. During the same period last year, the business posted $3.41 earnings per share. ServiceNow's quarterly revenue was up 18.6% compared to the same quarter last year. As a group, equities analysts expect that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Vice Chairman Nicholas Tzitzon sold 1,171 shares of ServiceNow stock in a transaction on Friday, May 30th. The shares were sold at an average price of $1,020.00, for a total transaction of $1,194,420.00. Following the transaction, the insider owned 3,000 shares in the company, valued at $3,060,000. This trade represents a 28.07% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, General Counsel Russell S. Elmer sold 62 shares of ServiceNow stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $1,023.00, for a total transaction of $63,426.00. Following the transaction, the general counsel owned 4,332 shares in the company, valued at approximately $4,431,636. This trade represents a 1.41% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 6,955 shares of company stock worth $6,862,195 in the last 90 days. Insiders own 0.38% of the company's stock.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. DA Davidson started coverage on shares of ServiceNow in a research report on Wednesday, June 25th. They set a "buy" rating and a $1,150.00 price objective on the stock. Canaccord Genuity Group cut their price objective on ServiceNow from $1,275.00 to $900.00 and set a "buy" rating for the company in a research report on Tuesday, April 22nd. Mizuho lifted their price objective on ServiceNow from $1,050.00 to $1,100.00 and gave the stock an "outperform" rating in a report on Thursday, June 12th. Needham & Company LLC reissued a "buy" rating and set a $1,050.00 price target on shares of ServiceNow in a research report on Tuesday, May 6th. Finally, JPMorgan Chase & Co. decreased their price target on shares of ServiceNow from $1,200.00 to $970.00 and set an "overweight" rating on the stock in a report on Tuesday, April 22nd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, thirty have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, ServiceNow has a consensus rating of "Moderate Buy" and a consensus price target of $1,068.23.

ServiceNow 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.