Trek Financial LLC Reduces Stock Position in ServiceNow, Inc. (NYSE:NOW)

Trek Financial LLC lessened its holdings in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 88.4% in the first quarter, according to its most recent filing 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 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of NOW. GAMMA Investing LLC raised its position in ServiceNow by 87,501.3% during 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. Norges Bank acquired a new position in shares of ServiceNow during the 4th quarter valued at about $2,603,360,000. Price T Rowe Associates Inc. MD boosted its stake in ServiceNow by 6.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 7,955,924 shares of the information technology services provider's stock valued at $8,434,235,000 after purchasing an additional 509,467 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its holdings in ServiceNow by 36.7% in the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 1,830,419 shares of the information technology services provider's stock valued at $1,940,464,000 after buying an additional 491,861 shares during the last quarter. Finally, Cohen Investment Advisors LLC grew its holdings in ServiceNow by 7,971.1% in the 1st quarter. Cohen Investment Advisors LLC now owns 353,597 shares of the information technology services provider's stock valued at $281,513,000 after buying an additional 349,216 shares during the last quarter. Institutional investors and hedge funds own 87.18% of the company's stock.

Insider Transactions at ServiceNow

In other ServiceNow news, Vice Chairman Nicholas Tzitzon sold 1,171 shares of the business's stock in a transaction on Friday, May 30th. The shares were sold at an average price of $1,020.00, for a total transaction of $1,194,420.00. Following the sale, the insider directly owned 3,000 shares in the company, valued at approximately $3,060,000. The trade was a 28.07% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jacqueline P. Canney sold 145 shares of the business's 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 sale, the insider owned 3,027 shares in the company, valued at $3,087,540. The trade was a 4.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 6,955 shares of company stock valued at $6,862,195 over the last quarter. Insiders own 0.38% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on NOW shares. Robert W. Baird boosted their price target on ServiceNow from $1,010.00 to $1,150.00 and gave the company an "outperform" rating in a research note on Thursday, April 24th. Sanford C. Bernstein reaffirmed an "outperform" rating and set a $1,003.00 price objective on shares of ServiceNow in a research note on Thursday, April 24th. Erste Group Bank raised ServiceNow from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, April 30th. FBN Securities raised ServiceNow to a "strong-buy" rating in a research report on Wednesday, June 11th. Finally, Citigroup upped their price objective on ServiceNow from $1,128.00 to $1,160.00 and gave the stock a "buy" rating in a research report on Wednesday, May 7th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, thirty have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $1,068.23.

ServiceNow Price Performance

ServiceNow stock opened at $1,023.36 on Wednesday. The company's fifty day moving average price is $1,007.49 and its 200 day moving average price is $962.22. ServiceNow, Inc. has a 1 year low of $678.66 and a 1 year high of $1,198.09. The stock has a market capitalization of $211.82 billion, a P/E ratio of 139.04, a P/E/G ratio of 4.75 and a beta of 0.94. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.12 and a current ratio of 1.12.

ServiceNow (NYSE:NOW - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The information technology services provider reported $4.04 earnings per share (EPS) 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 analysts' expectations of $3.09 billion. During the same quarter in the previous year, the company posted $3.41 EPS. The firm's quarterly revenue was up 18.6% on a year-over-year basis. As a group, equities research analysts anticipate that ServiceNow, Inc. will post 8.93 earnings per share for the current fiscal year.

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.

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