Stephens Inc. AR Sells 1,137 Shares of ServiceNow, Inc. (NYSE:NOW)

Stephens Inc. AR lessened its holdings in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 16.4% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 5,794 shares of the information technology services provider's stock after selling 1,137 shares during the period. Stephens Inc. AR's holdings in ServiceNow were worth $4,613,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Quarry LP bought a new position in ServiceNow in the 4th quarter worth about $27,000. WASHINGTON TRUST Co grew its position in ServiceNow by 620.0% in the 1st quarter. WASHINGTON TRUST Co now owns 36 shares of the information technology services provider's stock worth $29,000 after purchasing an additional 31 shares during the last quarter. Heck Capital Advisors LLC bought a new position in ServiceNow in the 4th quarter worth about $37,000. Cassady Schiller Wealth Management LLC grew its position in ServiceNow by 44.0% in the 4th 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. Finally, ST Germain D J Co. Inc. grew its position in ServiceNow by 63.3% in the 1st quarter. ST Germain D J Co. Inc. now owns 49 shares of the information technology services provider's stock worth $39,000 after purchasing an additional 19 shares during the last quarter. Institutional investors own 87.18% of the company's stock.

ServiceNow Stock Performance

NYSE:NOW traded down $7.70 during midday trading on Thursday, reaching $959.27. The stock had a trading volume of 1,274,885 shares, compared to its average volume of 1,487,938. ServiceNow, Inc. has a 1-year low of $678.66 and a 1-year high of $1,198.09. The firm's fifty day simple moving average is $1,007.21 and its 200-day simple moving average is $957.83. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.12 and a quick ratio of 1.12. The stock has a market capitalization of $198.55 billion, a P/E ratio of 130.34, a PEG ratio of 4.40 and a beta of 0.94.

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

Wall Street Analysts Forecast Growth

NOW has been the subject of several recent analyst reports. Oppenheimer reiterated an "outperform" rating and issued a $1,100.00 price objective (up from $970.00) on shares of ServiceNow in a report on Tuesday, May 6th. Truist Financial raised shares of ServiceNow from a "hold" rating to a "buy" rating and increased their target price for the company from $950.00 to $1,200.00 in a research note on Thursday, May 1st. FBN Securities raised shares of ServiceNow to a "strong-buy" rating in a research note on Wednesday, June 11th. Jefferies Financial Group cut their target price on shares of ServiceNow from $1,250.00 to $1,025.00 and set a "buy" rating for the company in a research note on Tuesday, April 15th. Finally, Cantor Fitzgerald increased their target price on shares of ServiceNow from $1,048.00 to $1,200.00 and gave the company an "overweight" rating in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, thirty-one have issued a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $1,073.13.

Insider Activity at ServiceNow

In related news, CEO William R. Mcdermott sold 2,050 shares of the business's stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $1,012.01, for a total transaction of $2,074,620.50. Following the completion of the transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jonathan Chadwick sold 770 shares of ServiceNow 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 completion of the transaction, the director directly owned 3,205 shares in the company, valued at approximately $2,985,842.10. The trade was a 19.37% decrease in their position. The disclosure for this sale can be found here. Insiders sold 6,601 shares of company stock worth $6,577,363 in the last ninety days. 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.