Trek Financial LLC Sells 5,066 Shares of ServiceNow, Inc. (NYSE:NOW)

Trek Financial LLC decreased its position in ServiceNow, Inc. (NYSE:NOW - Free Report) by 88.4% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 667 shares of the information technology services provider's stock after selling 5,066 shares during the quarter. Trek Financial LLC's holdings in ServiceNow were worth $531,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. OMNI 360 Wealth Inc. bought a new position in shares of ServiceNow in the first quarter worth about $285,000. Valeo Financial Advisors LLC raised its stake in shares of ServiceNow by 9.3% in the first quarter. Valeo Financial Advisors LLC now owns 2,262 shares of the information technology services provider's stock worth $1,801,000 after buying an additional 192 shares during the period. M&T Bank Corp raised its stake in shares of ServiceNow by 2.2% in the first quarter. M&T Bank Corp now owns 36,631 shares of the information technology services provider's stock worth $29,164,000 after buying an additional 774 shares during the period. Exane Asset Management bought a new position in shares of ServiceNow in the first quarter worth about $1,259,000. Finally, Stratos Wealth Advisors LLC raised its stake in shares of ServiceNow by 41.3% in the first quarter. Stratos Wealth Advisors LLC now owns 913 shares of the information technology services provider's stock worth $727,000 after buying an additional 267 shares during the period. Institutional investors own 87.18% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on NOW. Piper Sandler decreased their target price on ServiceNow from $1,200.00 to $1,120.00 and set an "overweight" rating on the stock in a research note on Thursday, April 24th. Morgan Stanley reissued an "equal weight" rating on shares of ServiceNow in a research note on Tuesday. FBN Securities raised ServiceNow to a "strong-buy" rating in a research note on Wednesday, June 11th. JMP Securities restated a "market outperform" rating and set a $1,300.00 price target on shares of ServiceNow in a report on Tuesday, May 6th. Finally, Wells Fargo & Company raised their price target on ServiceNow from $1,100.00 to $1,150.00 and gave the company an "overweight" rating in a report on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, thirty have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $1,068.23.

ServiceNow Trading Down 3.2%

NOW traded down $30.97 during trading hours on Friday, reaching $937.12. 2,144,933 shares of the company's stock traded hands, compared to its average volume of 1,486,117. The firm has a 50-day moving average price of $1,008.08 and a 200 day moving average price of $959.58. ServiceNow, Inc. has a 52-week low of $678.66 and a 52-week high of $1,198.09. 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 firm has a market capitalization of $193.97 billion, a PE ratio of 127.33, a PEG ratio of 4.31 and a beta of 0.94.

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

Insider Buying and Selling at ServiceNow

In other ServiceNow news, insider Jacqueline P. Canney sold 145 shares of ServiceNow stock in a transaction on Friday, May 30th. The stock was sold at an average price of $1,020.00, for a total transaction of $147,900.00. Following the completion of the sale, the insider directly owned 3,027 shares of the company's stock, valued at $3,087,540. The trade was a 4.57% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO William R. Mcdermott sold 2,050 shares of the business's stock in a transaction 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 directly owned 6,614 shares of the company's stock, valued at approximately $6,693,434.14. The trade was a 23.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 6,955 shares of company stock worth $6,862,195 over the last quarter. Insiders own 0.38% of the company's stock.

ServiceNow Company 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.