ServiceNow, Inc. (NYSE:NOW) Stock Holdings Reduced by Peregrine Capital Management LLC

Peregrine Capital Management LLC cut its stake in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 3.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 96,587 shares of the information technology services provider's stock after selling 3,540 shares during the period. ServiceNow comprises approximately 2.6% of Peregrine Capital Management LLC's holdings, making the stock its 4th largest position. Peregrine Capital Management LLC's holdings in ServiceNow were worth $76,897,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in NOW. Quarry LP purchased a new stake in shares of ServiceNow in the fourth quarter worth $27,000. Atala Financial Inc purchased a new stake in shares of ServiceNow during the 4th quarter worth approximately $28,000. LFA Lugano Financial Advisors SA purchased a new stake in shares of ServiceNow during the 4th quarter worth approximately $32,000. Noble Wealth Management PBC purchased a new position in shares of ServiceNow in the fourth quarter valued at $34,000. Finally, Heck Capital Advisors LLC bought a new stake in ServiceNow in the fourth quarter worth $37,000. 87.18% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, CEO William R. Mcdermott sold 2,050 shares of the company's stock in a transaction on Friday, May 30th. The stock was sold at an average price of $1,012.01, for a total value of $2,074,620.50. Following the transaction, the chief executive officer owned 6,614 shares of the company's stock, valued at $6,693,434.14. This represents a 23.66% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, General Counsel Russell S. Elmer sold 62 shares of the stock in a transaction dated 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 directly owned 4,332 shares in the company, valued at $4,431,636. This represents a 1.41% decrease in their position. The disclosure for this sale can be found here. Insiders sold 6,716 shares of company stock worth $6,611,245 over the last quarter. Corporate insiders own 0.38% of the company's stock.

ServiceNow Stock Performance

Shares of NOW traded down $8.11 during trading hours on Wednesday, reaching $1,003.78. 486,042 shares of the company traded hands, compared to its average volume of 1,479,949. The business has a fifty day moving average price of $995.96 and a 200-day moving average price of $964.39. ServiceNow, Inc. has a 12-month low of $678.66 and a 12-month high of $1,198.09. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.15. The stock has a market capitalization of $207.76 billion, a P/E ratio of 136.32, a P/E/G ratio of 4.72 and a beta of 0.94.

ServiceNow (NYSE:NOW - Get Free Report) last released its quarterly earnings data 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 return on equity of 17.34% and a net margin of 13.41%. The business had revenue of $3.09 billion for the quarter, compared to analyst estimates of $3.09 billion. During the same quarter in the prior year, the firm posted $3.41 EPS. The business's quarterly revenue was up 18.6% compared to the same quarter last year. Equities analysts anticipate that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on NOW. JMP Securities reissued a "market outperform" rating and issued a $1,300.00 price objective on shares of ServiceNow in a research note on Tuesday, May 6th. Jefferies Financial Group reduced their price objective on ServiceNow from $1,250.00 to $1,025.00 and set a "buy" rating on the stock in a research note on Tuesday, April 15th. The Goldman Sachs Group restated a "buy" rating on shares of ServiceNow in a research report on Thursday, April 24th. Scotiabank set a $1,100.00 target price on ServiceNow and gave the company an "outperform" rating in a research report on Wednesday, May 7th. Finally, William Blair reaffirmed an "outperform" rating on shares of ServiceNow in a research note on Friday, March 7th. One research analyst has rated the stock with a sell rating, two have given a hold rating, thirty-one have issued a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $1,068.23.

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.