ServiceNow, Inc. (NYSE:NOW) Shares Sold by Paradiem LLC

Paradiem LLC reduced its stake in ServiceNow, Inc. (NYSE:NOW - Free Report) by 14.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,169 shares of the information technology services provider's stock after selling 870 shares during the period. Paradiem LLC's holdings in ServiceNow were worth $4,115,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Quarry LP acquired a new stake in shares of ServiceNow in the fourth quarter valued at $27,000. Atala Financial Inc acquired a new stake in shares of ServiceNow in the fourth quarter valued at $28,000. LFA Lugano Financial Advisors SA acquired a new stake in shares of ServiceNow in the fourth quarter valued at $32,000. FPC Investment Advisory Inc. lifted its holdings in ServiceNow by 725.0% in the 4th quarter. FPC Investment Advisory Inc. now owns 33 shares of the information technology services provider's stock valued at $34,000 after acquiring an additional 29 shares during the last quarter. Finally, Noble Wealth Management PBC acquired a new stake in ServiceNow in the 4th quarter valued at about $34,000. 87.18% of the stock is currently owned by institutional investors and hedge funds.

ServiceNow Price Performance

Shares of NYSE:NOW opened at $969.78 on Friday. 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. The business has a fifty day simple moving average of $964.42 and a 200 day simple moving average of $970.33. The firm has a market cap of $200.72 billion, a price-to-earnings ratio of 131.76, a P/E/G ratio of 4.48 and a beta of 0.95.

ServiceNow (NYSE:NOW - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The information technology services provider reported $4.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.78 by $0.26. ServiceNow had a return on equity of 17.34% and a net margin of 13.41%. 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 company earned $3.41 earnings per share. ServiceNow's quarterly revenue was up 18.6% compared to the same quarter last year. As a group, sell-side analysts predict that ServiceNow, Inc. will post 8.93 earnings per share for the current fiscal year.

Insider Transactions at ServiceNow

In other ServiceNow news, Vice Chairman Nicholas Tzitzon sold 1,171 shares of the firm's stock in a transaction dated Friday, May 30th. The stock was sold at an average price of $1,020.00, for a total transaction of $1,194,420.00. Following the transaction, the insider now directly owns 3,000 shares in the company, valued at $3,060,000. This trade represents a 28.07% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO William R. Mcdermott sold 2,050 shares of the firm'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 completion of the transaction, the chief executive officer now directly owns 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 disclosure for this sale can be found here. Insiders sold 6,716 shares of company stock valued at $6,611,245 in the last three months. Corporate insiders own 0.38% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. Piper Sandler cut their price target on shares of ServiceNow from $1,200.00 to $1,120.00 and set an "overweight" rating for the company in a report on Thursday, April 24th. UBS Group reissued a "buy" rating and set a $1,025.00 target price (up from $900.00) on shares of ServiceNow in a research note on Thursday, April 24th. Morgan Stanley increased their target price on shares of ServiceNow from $881.00 to $950.00 and gave the company an "equal weight" rating in a research note on Thursday, April 24th. TD Securities reiterated a "buy" rating and set a $1,100.00 price objective on shares of ServiceNow in a research report on Thursday, April 24th. Finally, 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. One investment analyst has rated the stock with a sell rating, three have given a hold rating, twenty-nine have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $1,062.50.

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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