ServiceNow, Inc. (NYSE:NOW) Shares Sold by Twin Capital Management Inc.

Twin Capital Management Inc. trimmed its holdings in ServiceNow, Inc. (NYSE:NOW - Free Report) by 57.5% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,251 shares of the information technology services provider's stock after selling 1,695 shares during the quarter. Twin Capital Management Inc.'s holdings in ServiceNow were worth $996,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Bogart Wealth LLC boosted its holdings in shares of ServiceNow by 113.3% in the first quarter. Bogart Wealth LLC now owns 32 shares of the information technology services provider's stock valued at $25,000 after acquiring an additional 17 shares during the period. Graybill Wealth Management LTD. acquired a new stake in shares of ServiceNow in the first quarter valued at approximately $26,000. Quarry LP acquired a new stake in shares of ServiceNow in the fourth quarter valued at approximately $27,000. WASHINGTON TRUST Co boosted its holdings 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 acquiring an additional 31 shares during the period. Finally, Heck Capital Advisors LLC acquired a new stake in shares of ServiceNow in the fourth quarter valued at approximately $37,000. 87.18% of the stock is owned by institutional investors and hedge funds.

ServiceNow Price Performance

Shares of NYSE NOW opened at $963.43 on Monday. ServiceNow, Inc. has a twelve month low of $678.66 and a twelve month high of $1,198.09. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.15. The company has a market capitalization of $199.41 billion, a price-to-earnings ratio of 130.90, a price-to-earnings-growth ratio of 4.43 and a beta of 0.94. The business has a 50 day simple moving average of $1,006.53 and a 200-day simple moving average of $955.01.

ServiceNow (NYSE:NOW - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The information technology services provider reported $4.04 earnings per share for the quarter, beating analysts' consensus estimates 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 the consensus estimate of $3.09 billion. During the same period in the previous year, the business earned $3.41 EPS. The business's quarterly revenue was up 18.6% on a year-over-year basis. As a group, equities research analysts expect that ServiceNow, Inc. will post 8.93 earnings per share for the current year.

Insider Activity at ServiceNow

In other news, CEO William R. Mcdermott sold 2,050 shares of the business's 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 sale, the chief executive officer directly owned 6,614 shares of the company's stock, valued at $6,693,434.14. The trade was 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 at this link. Also, Vice Chairman Nicholas Tzitzon sold 1,171 shares of the company's stock in a transaction on Friday, May 30th. The shares were sold at an average price of $1,020.00, for a total value of $1,194,420.00. Following the transaction, the insider directly owned 3,000 shares in the company, valued at $3,060,000. The trade was a 28.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 6,601 shares of company stock worth $6,577,363 in the last ninety days. 0.38% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

NOW has been the subject of several research analyst reports. Mizuho increased their price objective on ServiceNow from $1,050.00 to $1,100.00 and gave the company an "outperform" rating in a report on Thursday, June 12th. Wells Fargo & Company increased their price target on ServiceNow from $1,100.00 to $1,150.00 and gave the stock an "overweight" rating in a report on Thursday, April 24th. Needham & Company LLC reaffirmed a "buy" rating and set a $1,050.00 price target on shares of ServiceNow in a report on Tuesday, May 6th. Canaccord Genuity Group decreased their price target on ServiceNow from $1,275.00 to $900.00 and set a "buy" rating for the company in a report on Tuesday, April 22nd. Finally, DA Davidson initiated coverage on ServiceNow in a report on Wednesday, June 25th. They set a "buy" rating and a $1,150.00 price target for the company. One analyst has rated the stock with a sell rating, three have issued a hold rating, thirty have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, ServiceNow currently has a consensus rating of "Moderate Buy" and an average target price of $1,075.87.

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.

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