Teamwork Financial Advisors LLC Reduces Position in ServiceNow, Inc. (NYSE:NOW)

Teamwork Financial Advisors LLC lessened its stake in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 61.5% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 637 shares of the information technology services provider's stock after selling 1,017 shares during the period. Teamwork Financial Advisors LLC's holdings in ServiceNow were worth $507,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Brighton Jones LLC grew its stake in ServiceNow by 1.1% in the 4th quarter. Brighton Jones LLC now owns 2,753 shares of the information technology services provider's stock valued at $2,919,000 after buying an additional 30 shares in the last quarter. Union Bancaire Privee UBP SA bought a new stake in ServiceNow during the fourth quarter valued at $48,802,000. Heck Capital Advisors LLC purchased a new stake in ServiceNow in the fourth quarter valued at approximately $37,000. U.S. Capital Wealth Advisors LLC grew its position in ServiceNow by 126.6% in the fourth quarter. U.S. Capital Wealth Advisors LLC now owns 1,752 shares of the information technology services provider's stock worth $1,857,000 after acquiring an additional 979 shares in the last quarter. Finally, Stock Yards Bank & Trust Co. raised its position in ServiceNow by 22.1% during the fourth quarter. Stock Yards Bank & Trust Co. now owns 276 shares of the information technology services provider's stock valued at $293,000 after purchasing an additional 50 shares in the last quarter. Institutional investors own 87.18% of the company's stock.

Analyst Ratings Changes

NOW has been the topic of several recent research reports. Needham & Company LLC reiterated a "buy" rating and set a $1,050.00 price objective on shares of ServiceNow in a research report on Tuesday, May 6th. Mizuho reduced their price target on shares of ServiceNow from $1,210.00 to $1,100.00 and set an "outperform" rating on the stock in a research report on Tuesday, March 11th. Wall Street Zen raised shares of ServiceNow from a "hold" rating to a "buy" rating in a research note on Sunday. JPMorgan Chase & Co. cut their price objective on shares of ServiceNow from $1,200.00 to $970.00 and set an "overweight" rating for the company in a research note on Tuesday, April 22nd. Finally, Barclays set a $1,085.00 target price on shares of ServiceNow in a research report on Wednesday, May 7th. One research analyst has rated the stock with a sell rating, two have given a hold rating, thirty have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $1,062.50.

Insiders Place Their Bets

In other ServiceNow news, Director Anita M. Sands sold 248 shares of the company's stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $1,009.14, for a total transaction of $250,266.72. Following the transaction, the director now owns 10,643 shares in the company, valued at approximately $10,740,277.02. This represents a 2.28% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jacqueline P. Canney sold 354 shares of the business's stock in a transaction that occurred on Wednesday, April 16th. The shares were sold at an average price of $804.61, for a total transaction of $284,831.94. Following the transaction, the insider now directly owns 3,027 shares of the company's stock, valued at $2,435,554.47. The trade was a 10.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 6,716 shares of company stock valued at $6,611,245. 0.38% of the stock is currently owned by corporate insiders.

ServiceNow Stock Up 0.5%

ServiceNow stock traded up $5.07 on Thursday, hitting $1,017.81. 902,286 shares of the stock traded hands, compared to its average volume of 1,490,367. ServiceNow, Inc. has a 1 year low of $676.19 and a 1 year high of $1,198.09. The firm has a market cap of $210.67 billion, a P/E ratio of 149.02, a price-to-earnings-growth ratio of 4.51 and a beta of 0.97. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.15. The business's fifty day simple moving average is $910.63 and its 200 day simple moving average is $974.82.

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 (EPS) for the quarter, beating analysts' consensus estimates of $3.78 by $0.26. The company had revenue of $3.09 billion during the quarter, compared to analysts' expectations of $3.09 billion. ServiceNow had a net margin of 12.97% and a return on equity of 17.11%. ServiceNow's revenue was up 18.6% on a year-over-year basis. During the same period last year, the company posted $3.41 EPS. As a group, sell-side 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.