ServiceNow, Inc. (NYSE:NOW) Shares Sold by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. lowered its stake in ServiceNow, Inc. (NYSE:NOW - Free Report) by 15.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 69,925 shares of the information technology services provider's stock after selling 12,903 shares during the quarter. ServiceNow comprises about 0.7% of Oppenheimer Asset Management Inc.'s portfolio, making the stock its 23rd biggest holding. Oppenheimer Asset Management Inc.'s holdings in ServiceNow were worth $55,670,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently bought and sold shares of NOW. Quarry LP acquired a new stake in shares of ServiceNow during the fourth quarter worth about $27,000. Atala Financial Inc acquired a new stake in shares of ServiceNow during the fourth quarter worth about $28,000. LFA Lugano Financial Advisors SA acquired a new stake in shares of ServiceNow during the fourth quarter worth about $32,000. FPC Investment Advisory Inc. lifted its position in shares of ServiceNow by 725.0% during the fourth quarter. FPC Investment Advisory Inc. now owns 33 shares of the information technology services provider's stock worth $34,000 after purchasing an additional 29 shares in the last quarter. Finally, Noble Wealth Management PBC acquired a new stake in shares of ServiceNow during the fourth quarter worth about $34,000. Institutional investors and hedge funds own 87.18% of the company's stock.

ServiceNow Stock Performance

Shares of NOW traded up $8.31 during mid-day trading on Monday, reaching $979.72. 1,036,926 shares of the company's stock were exchanged, compared to its average volume of 1,482,097. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.12 and a quick ratio of 1.12. The stock has a market capitalization of $202.78 billion, a PE ratio of 133.11, a price-to-earnings-growth ratio of 4.48 and a beta of 0.96. The business's fifty day simple moving average is $968.01 and its 200-day simple moving average is $968.25. ServiceNow, Inc. has a 52-week low of $678.66 and a 52-week high of $1,198.09.

ServiceNow (NYSE:NOW - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The information technology services provider reported $4.04 earnings per share (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 company's revenue for the quarter was up 18.6% compared to the same quarter last year. During the same period last year, the firm posted $3.41 earnings per share. On average, equities research analysts expect that ServiceNow, Inc. will post 8.93 earnings per share for the current year.

Insider Transactions at ServiceNow

In related news, CEO William R. Mcdermott sold 2,050 shares of the stock in a transaction on Friday, May 30th. The stock was 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 now directly owns 6,614 shares of the company's stock, valued at $6,693,434.14. This trade represents a 23.66% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Jacqueline P. Canney sold 354 shares of the stock in a transaction on Wednesday, April 16th. The stock was sold at an average price of $804.61, for a total value of $284,831.94. Following the sale, the insider now directly owns 3,027 shares of the company's stock, valued at approximately $2,435,554.47. This represents a 10.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 6,716 shares of company stock worth $6,611,245. Insiders own 0.38% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. UBS Group reissued a "buy" rating and set a $1,025.00 price target (up previously from $900.00) on shares of ServiceNow in a research report on Thursday, April 24th. Barclays set a $1,085.00 target price on shares of ServiceNow in a report on Wednesday, May 7th. Wells Fargo & Company raised their target price on shares of ServiceNow from $1,100.00 to $1,150.00 and gave the company an "overweight" rating in a report on Thursday, April 24th. Robert W. Baird raised their target price on shares of ServiceNow from $1,010.00 to $1,150.00 and gave the company an "outperform" rating in a report on Thursday, April 24th. Finally, Piper Sandler reduced their target price on shares of ServiceNow from $1,200.00 to $1,120.00 and set an "overweight" rating on the stock in a report on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-nine have issued a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, ServiceNow presently has an average rating of "Moderate Buy" and an average target price of $1,062.50.

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.