Victory Capital Management Inc. Sells 5,937 Shares of ServiceNow, Inc. (NYSE:NOW)

Victory Capital Management Inc. reduced its stake in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 2.9% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 201,815 shares of the information technology services provider's stock after selling 5,937 shares during the quarter. Victory Capital Management Inc. owned about 0.10% of ServiceNow worth $160,673,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in NOW. Janus Henderson Group PLC grew its stake in shares of ServiceNow by 1.5% during the fourth quarter. Janus Henderson Group PLC now owns 824,725 shares of the information technology services provider's stock valued at $874,258,000 after buying an additional 12,533 shares during the last quarter. FMR LLC grew its stake in shares of ServiceNow by 4.9% during 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 last quarter. Parr Mcknight Wealth Management Group LLC bought a new position in shares of ServiceNow during the first quarter valued at approximately $1,820,000. Nicholas Investment Partners LP grew its stake in shares of ServiceNow by 223.5% during the fourth quarter. Nicholas Investment Partners LP now owns 2,805 shares of the information technology services provider's stock valued at $2,974,000 after buying an additional 1,938 shares during the last quarter. Finally, OMNI 360 Wealth Inc. bought a new position in shares of ServiceNow during the first quarter valued at approximately $285,000. 87.18% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on NOW shares. Morgan Stanley reaffirmed an "equal weight" rating on shares of ServiceNow in a research note on Tuesday, July 8th. Barclays set a $1,085.00 price objective on ServiceNow in a research note on Wednesday, May 7th. Piper Sandler dropped their price objective 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. UBS Group reissued a "buy" rating and issued a $1,025.00 price objective (up previously from $900.00) on shares of ServiceNow in a research note on Thursday, April 24th. Finally, BMO Capital Markets increased their price objective on ServiceNow from $1,025.00 to $1,150.00 and gave the stock an "outperform" rating in a research note on Wednesday, May 14th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, thirty-one have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $1,073.13.

Insider Buying and Selling

In related news, Vice Chairman Nicholas Tzitzon sold 1,171 shares of the firm's stock in a transaction on Friday, May 30th. The stock was sold at an average price of $1,020.00, for a total value of $1,194,420.00. Following the completion of the transaction, the insider owned 3,000 shares in the company, valued at $3,060,000. This trade represents a 28.07% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Deborah Black sold 598 shares of the firm's stock in a transaction on Friday, April 25th. The stock was sold at an average price of $940.23, for a total value of $562,257.54. Following the completion of the transaction, the director owned 428 shares of the company's stock, valued at $402,418.44. This trade represents a 58.28% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 6,601 shares of company stock worth $6,577,363 over the last three months. Corporate insiders own 0.38% of the company's stock.

ServiceNow Stock Performance

Shares of NOW stock opened at $966.78 on Thursday. The firm has a market capitalization of $200.10 billion, a price-to-earnings ratio of 131.36, a price-to-earnings-growth ratio of 4.40 and a beta of 0.94. 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 business has a fifty day moving average of $1,007.21 and a 200 day moving average of $957.83. ServiceNow, Inc. has a 1 year low of $678.66 and a 1 year high of $1,198.09.

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 (EPS) for the quarter, topping analysts' consensus estimates of $3.78 by $0.26. The company 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%. The firm's quarterly revenue was up 18.6% on a year-over-year basis. During the same quarter last year, the business posted $3.41 EPS. As a group, research analysts expect 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.

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