Wallace Advisory Group LLC Sells 325 Shares of ServiceNow, Inc. (NYSE:NOW)

Wallace Advisory Group LLC reduced its position in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 20.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,298 shares of the information technology services provider's stock after selling 325 shares during the quarter. Wallace Advisory Group LLC's holdings in ServiceNow were worth $1,033,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the company. Janus Henderson Group PLC grew its holdings in shares of ServiceNow by 1.5% during the 4th quarter. Janus Henderson Group PLC now owns 824,725 shares of the information technology services provider's stock valued at $874,258,000 after acquiring an additional 12,533 shares in the last quarter. Union Bancaire Privee UBP SA purchased a new position in shares of ServiceNow during the 4th quarter valued at $48,802,000. Dock Street Asset Management Inc. grew its holdings in shares of ServiceNow by 3.4% during the 4th quarter. Dock Street Asset Management Inc. now owns 33,154 shares of the information technology services provider's stock valued at $35,147,000 after acquiring an additional 1,105 shares in the last quarter. Rheos Capital Works Inc. purchased a new position in shares of ServiceNow during the 4th quarter valued at $10,071,000. Finally, FMR LLC grew its holdings in shares of ServiceNow by 4.9% during the 4th quarter. FMR LLC now owns 5,878,900 shares of the information technology services provider's stock valued at $6,232,339,000 after acquiring an additional 272,506 shares in the last quarter. 87.18% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CFO Gina Mastantuono sold 292 shares of the stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $985.00, for a total transaction of $287,620.00. Following the sale, the chief financial officer now directly owns 11,198 shares of the company's stock, valued at $11,030,030. This represents a 2.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, General Counsel Russell S. Elmer sold 62 shares of the stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $1,023.00, for a total transaction of $63,426.00. Following the sale, the general counsel now directly owns 4,332 shares in the company, valued at $4,431,636. This trade represents a 1.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 3,102 shares of company stock valued at $2,944,038. 0.38% of the stock is currently owned by insiders.

ServiceNow Stock Performance

Shares of NYSE NOW traded down $0.11 during mid-day trading on Monday, hitting $1,010.98. The company had a trading volume of 1,001,802 shares, compared to its average volume of 1,503,330. ServiceNow, Inc. has a 12 month low of $645.45 and a 12 month high of $1,198.09. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.10 and a quick ratio of 1.10. The firm has a market cap of $209.26 billion, a P/E ratio of 148.02, a PEG ratio of 4.51 and a beta of 0.97. The business's 50-day simple moving average is $899.20 and its 200-day simple moving average is $974.30.

ServiceNow (NYSE:NOW - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The information technology services provider reported $4.04 earnings per share for the quarter, topping the consensus estimate of $3.78 by $0.26. The firm had revenue of $3.09 billion for the quarter, compared to analysts' expectations of $3.09 billion. ServiceNow had a net margin of 12.97% and a return on equity of 17.11%. The company's quarterly revenue was up 18.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.41 earnings per share. As a group, analysts predict that ServiceNow, Inc. will post 8.93 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

NOW has been the topic of several research analyst reports. BMO Capital Markets boosted their price target on shares of ServiceNow from $1,025.00 to $1,150.00 and gave the company an "outperform" rating in a report on Wednesday, May 14th. JPMorgan Chase & Co. decreased their price objective on shares of ServiceNow from $1,200.00 to $970.00 and set an "overweight" rating for the company in a report on Tuesday, April 22nd. Mizuho decreased their price objective on shares of ServiceNow from $1,210.00 to $1,100.00 and set an "outperform" rating for the company in a report on Tuesday, March 11th. Truist Financial upgraded shares of ServiceNow from a "hold" rating to a "buy" rating and upped their price objective for the stock from $950.00 to $1,200.00 in a report on Thursday, May 1st. Finally, Raymond James decreased their price objective on shares of ServiceNow from $1,200.00 to $1,000.00 and set an "outperform" rating for the company in a report on Tuesday, April 8th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, thirty have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price 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.