ServiceNow, Inc. (NYSE:NOW) Shares Sold by Hollencrest Capital Management

Hollencrest Capital Management cut its stake in ServiceNow, Inc. (NYSE:NOW - Free Report) by 95.8% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 145 shares of the information technology services provider's stock after selling 3,318 shares during the period. Hollencrest Capital Management's holdings in ServiceNow were worth $115,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Bogart Wealth LLC boosted its position in ServiceNow by 113.3% during the first quarter. Bogart Wealth LLC now owns 32 shares of the information technology services provider's stock worth $25,000 after purchasing an additional 17 shares in the last quarter. Graybill Wealth Management LTD. acquired a new stake in shares of ServiceNow during the first quarter valued at about $26,000. Quarry LP purchased a new position in ServiceNow during the 4th quarter valued at about $27,000. WASHINGTON TRUST Co increased its position in shares of ServiceNow by 620.0% during the first quarter. WASHINGTON TRUST Co now owns 36 shares of the information technology services provider's stock worth $29,000 after acquiring an additional 31 shares during the period. Finally, Heck Capital Advisors LLC acquired a new position in ServiceNow during the 4th quarter worth approximately $37,000. 87.18% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Jonathan Chadwick sold 770 shares of ServiceNow stock in a transaction that occurred on Monday, April 28th. The shares were sold at an average price of $931.62, for a total transaction of $717,347.40. Following the sale, the director directly 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 position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Deborah Black sold 598 shares of ServiceNow stock in a transaction dated Friday, April 25th. The stock was sold at an average price of $940.23, for a total value of $562,257.54. Following the transaction, the director directly owned 428 shares in the company, valued at $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 90 days, insiders have sold 6,601 shares of company stock worth $6,577,363. 0.38% of the stock is currently owned by insiders.

ServiceNow Stock Performance

Shares of NYSE:NOW opened at $963.43 on Friday. The business has a 50-day moving average price of $1,006.53 and a two-hundred day moving average price of $956.42. The stock has a market capitalization of $199.41 billion, a P/E ratio of 130.90, a P/E/G ratio of 4.41 and a beta of 0.94. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.15. ServiceNow, Inc. has a 1-year low of $678.66 and a 1-year high of $1,198.09.

ServiceNow (NYSE:NOW - Get Free Report) last announced 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 business had revenue of $3.09 billion for 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 firm's revenue for the quarter was up 18.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.41 earnings per share. Equities analysts predict that ServiceNow, Inc. will post 8.93 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Oppenheimer restated an "outperform" rating and set a $1,100.00 target price (up from $970.00) on shares of ServiceNow in a research report on Tuesday, May 6th. JPMorgan Chase & Co. decreased their price target on shares of ServiceNow from $1,200.00 to $970.00 and set an "overweight" rating for the company in a research report on Tuesday, April 22nd. BMO Capital Markets upped their price target on ServiceNow from $1,025.00 to $1,150.00 and gave the company an "outperform" rating in a research report on Wednesday, May 14th. Cantor Fitzgerald increased their price objective on shares of ServiceNow from $1,048.00 to $1,200.00 and gave the company an "overweight" rating in a report on Wednesday. Finally, Truist Financial upgraded shares of ServiceNow from a "hold" rating to a "buy" rating and raised their target price for the stock from $950.00 to $1,200.00 in a report on Thursday, May 1st. One 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 issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $1,075.87.

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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