ServiceNow, Inc. (NYSE:NOW) Shares Sold by Mathes Company Inc.

Mathes Company Inc. lessened its position in ServiceNow, Inc. (NYSE:NOW - Free Report) by 9.0% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 4,647 shares of the information technology services provider's stock after selling 460 shares during the period. ServiceNow makes up 1.5% of Mathes Company Inc.'s investment portfolio, making the stock its 26th largest holding. Mathes Company Inc.'s holdings in ServiceNow were worth $3,700,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Quarry LP acquired a new stake in shares of ServiceNow in the fourth quarter valued at about $27,000. Atala Financial Inc acquired a new stake in shares of ServiceNow in the fourth quarter valued at about $28,000. Heck Capital Advisors LLC acquired a new stake in shares of ServiceNow in the fourth quarter valued at about $37,000. Cassady Schiller Wealth Management LLC lifted its stake in shares of ServiceNow by 44.0% in the fourth quarter. Cassady Schiller Wealth Management LLC now owns 36 shares of the information technology services provider's stock valued at $38,000 after purchasing an additional 11 shares during the period. Finally, WASHINGTON TRUST Co lifted its stake in shares of ServiceNow by 620.0% in the first quarter. WASHINGTON TRUST Co now owns 36 shares of the information technology services provider's stock valued at $29,000 after purchasing an additional 31 shares during the period. Institutional investors and hedge funds own 87.18% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Raymond James Financial reduced their price objective on shares of ServiceNow from $1,200.00 to $1,000.00 and set an "outperform" rating for the company in a research note on Tuesday, April 8th. Oppenheimer restated an "outperform" rating and set a $1,100.00 target price (up previously from $970.00) on shares of ServiceNow in a research report on Tuesday, May 6th. UBS Group restated a "buy" rating and set a $1,025.00 target price (up previously from $900.00) on shares of ServiceNow in a research report on Thursday, April 24th. Piper Sandler cut their target price on shares of ServiceNow from $1,200.00 to $1,120.00 and set an "overweight" rating for the company in a research report on Thursday, April 24th. Finally, JPMorgan Chase & Co. cut their target price 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. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, thirty have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, ServiceNow currently has an average rating of "Moderate Buy" and a consensus target price of $1,068.23.

ServiceNow Stock Performance

Shares of NOW stock opened at $937.12 on Friday. ServiceNow, Inc. has a one year low of $678.66 and a one year high of $1,198.09. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.12 and a current ratio of 1.12. The company has a 50 day moving average price of $1,008.08 and a 200 day moving average price of $960.59. The firm has a market capitalization of $193.97 billion, a price-to-earnings ratio of 127.33, a price-to-earnings-growth ratio of 4.45 and a beta of 0.94.

ServiceNow (NYSE:NOW - Get Free Report) last issued its quarterly earnings results 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 firm had revenue of $3.09 billion during the quarter, compared to analyst estimates of $3.09 billion. During the same quarter in the prior year, the business posted $3.41 earnings per share. ServiceNow's revenue for the quarter was up 18.6% compared to the same quarter last year. Sell-side analysts anticipate that ServiceNow, Inc. will post 8.93 EPS for the current year.

Insider Activity at ServiceNow

In other ServiceNow news, CEO William R. Mcdermott sold 2,050 shares of the business'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 transaction of $2,074,620.50. Following the completion of the sale, the chief executive officer directly owned 6,614 shares in the company, valued at $6,693,434.14. The trade was a 23.66% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel Russell S. Elmer sold 62 shares of the business's stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $1,023.00, for a total transaction of $63,426.00. Following the sale, the general counsel owned 4,332 shares of the company's stock, valued at approximately $4,431,636. This represents a 1.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 6,955 shares of company stock valued at $6,862,195 over the last quarter. Company insiders own 0.38% of the company's stock.

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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