ServiceNow, Inc. (NYSE:NOW) Shares Sold by Jefferies Financial Group Inc.

Key Points

• Jefferies Financial Group Inc. reduced its holdings in ServiceNow by 34.3% during the first quarter, owning 1,013 shares valued at approximately $806,000 after selling 528 shares.
• ServiceNow's stock saw a 0.7% increase to $911.07, with a market capitalization of $189.50 billion and a P/E ratio of 114.74.
• Analysts maintain a "Moderate Buy" consensus rating for ServiceNow, with an average price target of $1,115.20, reflecting positive expectations for the company's growth.

Jefferies Financial Group Inc. trimmed its position in ServiceNow, Inc. (NYSE:NOW - Free Report) by 34.3% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,013 shares of the information technology services provider's stock after selling 528 shares during the period. Jefferies Financial Group Inc.'s holdings in ServiceNow were worth $806,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Brighton Jones LLC lifted its stake in shares of ServiceNow by 1.1% during the fourth quarter. Brighton Jones LLC now owns 2,753 shares of the information technology services provider's stock valued at $2,919,000 after buying an additional 30 shares during the period. Dynamic Technology Lab Private Ltd purchased a new position in shares of ServiceNow during the 4th quarter worth $518,000. FIL Ltd lifted its stake in shares of ServiceNow by 22.0% during the 4th quarter. FIL Ltd now owns 561 shares of the information technology services provider's stock worth $595,000 after purchasing an additional 101 shares during the period. Abacus FCF Advisors LLC boosted its holdings in shares of ServiceNow by 46.6% during the fourth quarter. Abacus FCF Advisors LLC now owns 10,925 shares of the information technology services provider's stock worth $11,582,000 after purchasing an additional 3,472 shares during the last quarter. Finally, Bernard Wealth Management Corp. purchased a new stake in shares of ServiceNow in the fourth quarter valued at $122,000. 87.18% of the stock is owned by institutional investors and hedge funds.

ServiceNow Stock Up 0.7%

Shares of NOW stock traded up $5.95 during mid-day trading on Wednesday, reaching $911.07. 1,067,691 shares of the company were exchanged, compared to its average volume of 1,630,136. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.09 and a current ratio of 1.09. The business's 50 day simple moving average is $990.76 and its 200 day simple moving average is $947.93. The company has a market capitalization of $189.50 billion, a P/E ratio of 114.74, a P/E/G ratio of 4.08 and a beta of 0.93. ServiceNow, Inc. has a fifty-two week low of $678.66 and a fifty-two week high of $1,198.09.

ServiceNow (NYSE:NOW - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The information technology services provider reported $4.09 earnings per share for the quarter, topping the consensus estimate of $3.57 by $0.52. The company had revenue of $3.22 billion during the quarter, compared to analyst estimates of $3.12 billion. ServiceNow had a net margin of 13.78% and a return on equity of 18.04%. The firm's revenue for the quarter was up 22.4% compared to the same quarter last year. During the same period last year, the business earned $3.13 EPS. Research analysts predict that ServiceNow, Inc. will post 8.93 earnings per share for the current year.

Insider Transactions at ServiceNow

In other news, Director Anita M. Sands sold 239 shares of ServiceNow stock in a transaction that occurred on Thursday, July 3rd. The stock was sold at an average price of $1,050.00, for a total value of $250,950.00. Following the completion of the transaction, the director owned 10,404 shares in the company, valued at approximately $10,924,200. This trade represents a 2.25% decrease in their position. The sale was disclosed in a legal 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 that occurred on Friday, May 30th. The shares were sold at an average price of $1,012.01, for a total value of $2,074,620.50. Following the sale, the chief executive officer directly owned 6,614 shares in the company, valued at approximately $6,693,434.14. This represents a 23.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 5,990 shares of company stock valued at $6,047,567 over the last 90 days. Corporate insiders own 0.38% of the company's stock.

Wall Street Analysts Forecast Growth

NOW has been the topic of several recent analyst reports. Mizuho increased their target price on ServiceNow from $1,050.00 to $1,100.00 and gave the stock an "outperform" rating in a research report on Thursday, June 12th. The Goldman Sachs Group reiterated a "buy" rating on shares of ServiceNow in a report on Thursday, April 24th. TD Securities restated a "buy" rating and issued a $1,100.00 target price on shares of ServiceNow in a report on Thursday, April 24th. Robert W. Baird increased their price target on shares of ServiceNow from $1,010.00 to $1,150.00 and gave the stock an "outperform" rating in a research note on Thursday, April 24th. Finally, Jefferies Financial Group boosted their price objective on shares of ServiceNow from $1,025.00 to $1,150.00 and gave the company a "buy" rating in a research note on Thursday, July 24th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, thirty have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $1,115.20.

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.