ServiceNow, Inc. (NYSE:NOW) Stake Trimmed by Riverbridge Partners LLC

Riverbridge Partners LLC cut its position in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 1.3% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 105,583 shares of the information technology services provider's stock after selling 1,420 shares during the quarter. ServiceNow accounts for 1.3% of Riverbridge Partners LLC's portfolio, making the stock its 27th largest position. Riverbridge Partners LLC owned about 0.05% of ServiceNow worth $84,059,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in NOW. Quarry LP acquired a new position in ServiceNow in the 4th quarter worth approximately $27,000. Atala Financial Inc acquired a new stake in shares of ServiceNow in the fourth quarter worth $28,000. LFA Lugano Financial Advisors SA acquired a new stake in shares of ServiceNow in the fourth quarter worth $32,000. FPC Investment Advisory Inc. grew its holdings in shares of ServiceNow by 725.0% during the fourth quarter. FPC Investment Advisory Inc. now owns 33 shares of the information technology services provider's stock valued at $34,000 after buying an additional 29 shares in the last quarter. Finally, Noble Wealth Management PBC acquired a new position in ServiceNow during the fourth quarter valued at $34,000. 87.18% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

NOW has been the topic of several research analyst reports. Erste Group Bank raised ServiceNow from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, April 30th. Jefferies Financial Group lowered their price objective on shares of ServiceNow from $1,250.00 to $1,025.00 and set a "buy" rating on the stock in a research report on Tuesday, April 15th. Canaccord Genuity Group cut their target price on shares of ServiceNow from $1,275.00 to $900.00 and set a "buy" rating for the company in a research report on Tuesday, April 22nd. Evercore ISI lifted their target price on shares of ServiceNow from $925.00 to $1,000.00 and gave the company an "outperform" rating in a research note on Thursday, April 24th. Finally, JMP Securities reaffirmed a "market outperform" rating and issued a $1,300.00 price target on shares of ServiceNow in a research note on Tuesday, May 6th. One 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 assigned a strong buy rating to the stock. Based on data from MarketBeat, ServiceNow presently has a consensus rating of "Moderate Buy" and a consensus target price of $1,062.50.

Insider Transactions at ServiceNow

In other news, Director Anita M. Sands sold 428 shares of the business's stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $1,013.61, for a total transaction of $433,825.08. Following the sale, the director now directly owns 10,891 shares in the company, valued at approximately $11,039,226.51. The trade was a 3.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Vice Chairman Nicholas Tzitzon sold 1,171 shares of the firm's stock in a transaction on Friday, May 30th. The stock was sold at an average price of $1,020.00, for a total value of $1,194,420.00. Following the completion of the transaction, the insider now directly owns 3,000 shares of the company's stock, valued at approximately $3,060,000. This trade represents a 28.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 6,716 shares of company stock worth $6,611,245. 0.38% of the stock is currently owned by company insiders.

ServiceNow Stock Performance

NOW opened at $980.29 on Friday. 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's 50 day moving average price is $960.74 and its two-hundred day moving average price is $971.98. The firm has a market capitalization of $202.90 billion, a P/E ratio of 133.19, a price-to-earnings-growth ratio of 4.53 and a beta of 0.95. ServiceNow, Inc. has a 12-month low of $678.66 and a 12-month high of $1,198.09.

ServiceNow (NYSE:NOW - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The information technology services provider reported $4.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.78 by $0.26. The business had revenue of $3.09 billion for the quarter, compared to the consensus estimate of $3.09 billion. ServiceNow had a net margin of 13.41% and a return on equity of 17.34%. ServiceNow's quarterly revenue was up 18.6% on a year-over-year basis. During the same quarter last year, the company posted $3.41 earnings per share. On average, equities analysts forecast that ServiceNow, Inc. will post 8.93 earnings per share for the current year.

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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