Xponance Inc. Has $41.25 Million Position in ServiceNow, Inc. (NYSE:NOW)

Xponance Inc. trimmed its position in ServiceNow, Inc. (NYSE:NOW - Free Report) by 2.3% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 51,808 shares of the information technology services provider's stock after selling 1,228 shares during the period. Xponance Inc.'s holdings in ServiceNow were worth $41,246,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Quarry LP purchased a new position in ServiceNow in the fourth quarter valued at approximately $27,000. Atala Financial Inc purchased a new stake in ServiceNow during the fourth quarter valued at about $28,000. LFA Lugano Financial Advisors SA purchased a new stake in shares of ServiceNow during the fourth quarter worth about $32,000. Heck Capital Advisors LLC bought a new position in ServiceNow in the fourth quarter worth about $37,000. Finally, Cassady Schiller Wealth Management LLC increased its stake in shares of ServiceNow by 44.0% during the fourth quarter. Cassady Schiller Wealth Management LLC now owns 36 shares of the information technology services provider's stock valued at $38,000 after purchasing an additional 11 shares in the last quarter. Institutional investors and hedge funds own 87.18% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on NOW. JPMorgan Chase & Co. dropped their price target on shares of ServiceNow from $1,200.00 to $970.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 22nd. Wells Fargo & Company boosted their price objective on shares of ServiceNow from $1,100.00 to $1,150.00 and gave the company an "overweight" rating in a research report on Thursday, April 24th. Stifel Nicolaus increased their target price on shares of ServiceNow from $975.00 to $1,050.00 and gave the company a "buy" rating in a research report on Tuesday, May 6th. TD Securities reiterated a "buy" rating and issued a $1,100.00 price objective on shares of ServiceNow in a research note on Thursday, April 24th. Finally, Truist Financial raised shares of ServiceNow from a "hold" rating to a "buy" rating and raised their price target for the stock from $950.00 to $1,200.00 in a research note on Thursday, May 1st. One research analyst has rated the stock with a sell rating, three have given a hold rating, thirty have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $1,068.23.

ServiceNow Stock Performance

ServiceNow stock traded down $30.97 during mid-day trading on Friday, reaching $937.12. The company's stock had a trading volume of 2,144,933 shares, compared to its average volume of 1,483,800. The firm has a market cap of $193.97 billion, a price-to-earnings ratio of 127.33, a PEG ratio of 4.45 and a beta of 0.94. The business has a 50 day moving average price of $1,008.88 and a 200-day moving average price of $961.75. 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 twelve month low of $678.66 and a twelve month high of $1,198.09.

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 analysts' consensus estimates of $3.78 by $0.26. ServiceNow had a net margin of 13.41% and a return on equity of 17.34%. The firm had revenue of $3.09 billion during the quarter, compared to the consensus estimate of $3.09 billion. During the same quarter in the previous year, the company posted $3.41 earnings per share. The firm's revenue was up 18.6% on a year-over-year basis. Sell-side analysts predict that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

Insider Activity at ServiceNow

In other ServiceNow news, CEO William R. Mcdermott sold 2,050 shares of the business's stock in a transaction dated 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 owned 6,614 shares in the company, valued at approximately $6,693,434.14. The trade was a 23.66% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Deborah Black sold 598 shares of ServiceNow stock in a transaction dated Friday, April 25th. The shares were sold at an average price of $940.23, for a total value of $562,257.54. Following the transaction, the director directly owned 428 shares in the company, valued at approximately $402,418.44. This trade represents a 58.28% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 6,955 shares of company stock valued at $6,862,195. Company insiders own 0.38% of the company's stock.

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.