Sterling Investment Counsel LLC Boosts Position in ServiceNow, Inc. (NYSE:NOW)

Sterling Investment Counsel LLC lifted its stake in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 485.5% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,780 shares of the information technology services provider's stock after purchasing an additional 1,476 shares during the quarter. Sterling Investment Counsel LLC's holdings in ServiceNow were worth $1,417,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in ServiceNow by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 19,199,258 shares of the information technology services provider's stock valued at $20,353,517,000 after buying an additional 190,430 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in ServiceNow by 6.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 7,955,924 shares of the information technology services provider's stock worth $8,434,235,000 after purchasing an additional 509,467 shares in the last quarter. FMR LLC lifted its stake in ServiceNow by 4.9% in the fourth quarter. FMR LLC now owns 5,878,900 shares of the information technology services provider's stock valued at $6,232,339,000 after buying an additional 272,506 shares during the period. Geode Capital Management LLC lifted its stake in ServiceNow by 2.4% in the fourth quarter. Geode Capital Management LLC now owns 4,312,571 shares of the information technology services provider's stock valued at $4,560,890,000 after buying an additional 100,670 shares during the period. Finally, GAMMA Investing LLC lifted its stake in ServiceNow by 87,501.3% in the first quarter. GAMMA Investing LLC now owns 2,689,361 shares of the information technology services provider's stock valued at $2,141,108,000 after buying an additional 2,686,291 shares during the period. 87.18% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on NOW shares. Raymond James Financial decreased their price objective on ServiceNow from $1,200.00 to $1,000.00 and set an "outperform" rating for the company in a report on Tuesday, April 8th. Citigroup boosted their price objective on ServiceNow from $1,128.00 to $1,160.00 and gave the company a "buy" rating in a report on Wednesday, May 7th. The Goldman Sachs Group restated a "buy" rating on shares of ServiceNow in a report on Thursday, April 24th. Barclays set a $1,085.00 price objective on ServiceNow in a report on Wednesday, May 7th. Finally, Bank of America decreased their price objective on ServiceNow from $1,280.00 to $1,025.00 and set a "buy" rating for the company in a report on Tuesday, April 15th. One investment 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. According to data from MarketBeat.com, ServiceNow currently has a consensus rating of "Moderate Buy" and a consensus target price of $1,062.50.

Insider Buying and Selling at ServiceNow

In other news, General Counsel Russell S. Elmer sold 62 shares of the stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $1,023.00, for a total transaction of $63,426.00. Following the transaction, the general counsel now directly owns 4,332 shares in the company, valued at approximately $4,431,636. This represents a 1.41% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO William R. Mcdermott sold 2,050 shares of ServiceNow 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 value of $2,074,620.50. Following the completion of the transaction, the chief executive officer now directly owns 6,614 shares in the company, valued at $6,693,434.14. This trade represents a 23.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 6,716 shares of company stock valued at $6,611,245 in the last 90 days. Corporate insiders own 0.38% of the company's stock.

ServiceNow Stock Performance

Shares of NOW stock traded down $12.31 on Friday, hitting $969.78. 2,004,369 shares of the stock were exchanged, compared to its average volume of 1,483,632. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.15. The firm has a market capitalization of $200.72 billion, a PE ratio of 131.76, a P/E/G ratio of 4.48 and a beta of 0.95. ServiceNow, Inc. has a one year low of $678.66 and a one year high of $1,198.09. The firm's 50 day moving average is $964.42 and its two-hundred day moving average is $970.33.

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 (EPS) for the quarter, topping analysts' consensus estimates of $3.78 by $0.26. The business had revenue of $3.09 billion for the quarter, compared to analysts' expectations of $3.09 billion. ServiceNow had a return on equity of 17.34% and a net margin of 13.41%. The firm's quarterly revenue was up 18.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.41 EPS. Sell-side analysts expect 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.