Sierra Capital LLC Decreases Stock Holdings in ServiceNow, Inc. (NYSE:NOW)

Sierra Capital LLC decreased its position in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 20.8% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,370 shares of the information technology services provider's stock after selling 360 shares during the period. Sierra Capital LLC's holdings in ServiceNow were worth $1,091,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Cassady Schiller Wealth Management LLC grew its holdings in shares of ServiceNow by 44.0% in the fourth quarter. Cassady Schiller Wealth Management LLC now owns 36 shares of the information technology services provider's stock worth $38,000 after purchasing an additional 11 shares during the last quarter. Plancorp LLC grew its holdings in shares of ServiceNow by 4.1% in the fourth quarter. Plancorp LLC now owns 308 shares of the information technology services provider's stock worth $327,000 after purchasing an additional 12 shares during the last quarter. Capital Investment Advisory Services LLC grew its holdings in shares of ServiceNow by 2.1% in the first quarter. Capital Investment Advisory Services LLC now owns 577 shares of the information technology services provider's stock worth $459,000 after purchasing an additional 12 shares during the last quarter. Kesler Norman & Wride LLC grew its holdings in shares of ServiceNow by 1.2% in the fourth quarter. Kesler Norman & Wride LLC now owns 1,092 shares of the information technology services provider's stock worth $1,157,000 after purchasing an additional 13 shares during the last quarter. Finally, Sepio Capital LP lifted its stake in ServiceNow by 3.8% in the fourth quarter. Sepio Capital LP now owns 359 shares of the information technology services provider's stock worth $381,000 after acquiring an additional 13 shares during the period. Institutional investors own 87.18% of the company's stock.

Analyst Upgrades and Downgrades

NOW has been the subject of a number of research reports. Guggenheim reaffirmed a "sell" rating and issued a $724.00 price objective on shares of ServiceNow in a research note on Tuesday. BMO Capital Markets upped their price objective on shares of ServiceNow from $1,025.00 to $1,150.00 and gave the stock an "outperform" rating in a research note on Wednesday, May 14th. Royal Bank Of Canada upped their price objective on shares of ServiceNow from $1,060.00 to $1,100.00 and gave the stock an "outperform" rating in a research note on Tuesday, May 6th. Citigroup upped their price objective on shares of ServiceNow from $1,128.00 to $1,160.00 and gave the stock a "buy" rating in a research note on Wednesday, May 7th. Finally, Oppenheimer reaffirmed an "outperform" rating and issued a $1,100.00 price objective (up from $970.00) on shares of ServiceNow in a research note on Tuesday, May 6th. One equities 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 assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $1,068.23.

Insider Buying and Selling

In other news, Director Jonathan Chadwick sold 770 shares of the firm's stock in a transaction that occurred on Monday, April 28th. The shares were sold at an average price of $931.62, for a total transaction of $717,347.40. Following the sale, the director owned 3,205 shares of the company's stock, valued at $2,985,842.10. This trade represents a 19.37% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO William R. Mcdermott sold 2,050 shares of the firm's stock in a transaction that occurred 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 in the company, valued at $6,693,434.14. The trade was a 23.66% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 6,955 shares of company stock worth $6,862,195 in the last quarter. 0.38% of the stock is currently owned by corporate insiders.

ServiceNow Stock Performance

Shares of ServiceNow stock traded down $7.59 during midday trading on Wednesday, hitting $1,015.39. The company had a trading volume of 360,826 shares, compared to its average volume of 1,479,051. The stock has a market cap of $210.17 billion, a price-to-earnings ratio of 137.62, a PEG ratio of 4.75 and a beta of 0.94. 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 company has a fifty day simple moving average of $1,007.49 and a 200 day simple moving average of $962.22. 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 issued its quarterly earnings results 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. ServiceNow had a net margin of 13.41% and a return on equity of 17.34%. The company had revenue of $3.09 billion for the quarter, compared to the consensus estimate of $3.09 billion. During the same quarter in the prior year, the company earned $3.41 EPS. ServiceNow's quarterly revenue was up 18.6% on a year-over-year basis. As a group, analysts predict that ServiceNow, Inc. will post 8.93 earnings per share for the current fiscal 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.