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

PUREfi Wealth LLC lowered its stake in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 53.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 263 shares of the information technology services provider's stock after selling 298 shares during the quarter. PUREfi Wealth LLC's holdings in ServiceNow were worth $209,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of NOW. Vanguard Group Inc. increased its holdings in ServiceNow by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 19,199,258 shares of the information technology services provider's stock worth $20,353,517,000 after purchasing an additional 190,430 shares during the period. Price T Rowe Associates Inc. MD grew its position in shares of ServiceNow by 6.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 7,955,924 shares of the information technology services provider's stock worth $8,434,235,000 after buying an additional 509,467 shares in the last quarter. FMR LLC increased its stake in shares of ServiceNow by 4.9% during the fourth quarter. FMR LLC now owns 5,878,900 shares of the information technology services provider's stock worth $6,232,339,000 after buying an additional 272,506 shares during the period. Geode Capital Management LLC increased its stake in shares of ServiceNow by 2.4% during the fourth quarter. Geode Capital Management LLC now owns 4,312,571 shares of the information technology services provider's stock worth $4,560,890,000 after buying an additional 100,670 shares during the period. Finally, GAMMA Investing LLC raised its holdings in ServiceNow by 87,501.3% in the first quarter. GAMMA Investing LLC now owns 2,689,361 shares of the information technology services provider's stock valued at $2,141,108,000 after acquiring an additional 2,686,291 shares in the last quarter. 87.18% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have commented on NOW shares. Bank of America lowered their price target on shares of ServiceNow from $1,280.00 to $1,025.00 and set a "buy" rating for the company in a report on Tuesday, April 15th. Evercore ISI lifted their price objective on shares of ServiceNow from $925.00 to $1,000.00 and gave the stock an "outperform" rating in a research report on Thursday, April 24th. Mizuho increased their target price on ServiceNow from $1,050.00 to $1,100.00 and gave the company an "outperform" rating in a report on Thursday, June 12th. Morgan Stanley raised their price target on ServiceNow from $881.00 to $950.00 and gave the company an "equal weight" rating in a research note on Thursday, April 24th. Finally, BMO Capital Markets lifted their price target on ServiceNow from $1,025.00 to $1,150.00 and gave the stock an "outperform" rating in a report on Wednesday, May 14th. One research 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 issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $1,062.50.

Insiders Place Their Bets

In other news, insider Jacqueline P. Canney sold 66 shares of the firm'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 value of $67,518.00. Following the completion of the sale, the insider now directly owns 3,027 shares of the company's stock, valued at $3,096,621. This trade represents a 2.13% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 now directly owns 6,614 shares in the company, valued at $6,693,434.14. This represents a 23.66% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 6,716 shares of company stock worth $6,611,245. 0.38% of the stock is owned by insiders.

ServiceNow Stock Down 0.1%

ServiceNow stock opened at $1,003.83 on Wednesday. The stock has a 50 day moving average of $953.73 and a two-hundred day moving average of $972.40. ServiceNow, Inc. has a twelve month low of $678.66 and a twelve month high of $1,198.09. The stock has a market capitalization of $207.77 billion, a price-to-earnings ratio of 136.39, a PEG ratio of 4.63 and a beta of 0.95. 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 (NYSE:NOW - Get Free Report) last released 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 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 analysts' expectations of $3.09 billion. During the same quarter in the prior year, the business earned $3.41 earnings per share. The company's quarterly revenue was up 18.6% compared to the same quarter last year. As a group, research analysts expect that ServiceNow, Inc. will post 8.93 earnings per share for the current year.

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.

Want to see what other hedge funds are holding NOW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ServiceNow, Inc. (NYSE:NOW - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.