Vivid Wealth Management LLC Decreases Stake in ServiceNow, Inc. (NYSE:NOW)

Vivid Wealth Management LLC trimmed its position in ServiceNow, Inc. (NYSE:NOW - Free Report) by 55.0% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 289 shares of the information technology services provider's stock after selling 353 shares during the period. Vivid Wealth Management LLC's holdings in ServiceNow were worth $230,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in NOW. Vanguard Group Inc. boosted its holdings in shares of ServiceNow by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 19,199,258 shares of the information technology services provider's stock worth $20,353,517,000 after buying an additional 190,430 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake 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 valued at $8,434,235,000 after acquiring an additional 509,467 shares during the last quarter. FMR LLC grew its position in shares of ServiceNow by 4.9% during the 4th quarter. FMR LLC now owns 5,878,900 shares of the information technology services provider's stock valued at $6,232,339,000 after acquiring an additional 272,506 shares during the period. Geode Capital Management LLC increased its stake in shares of ServiceNow by 2.4% during the 4th quarter. Geode Capital Management LLC now owns 4,312,571 shares of the information technology services provider's stock worth $4,560,890,000 after purchasing an additional 100,670 shares during the last quarter. Finally, GAMMA Investing LLC raised its holdings in shares of ServiceNow by 87,501.3% in the 1st quarter. GAMMA Investing LLC now owns 2,689,361 shares of the information technology services provider's stock worth $2,141,108,000 after purchasing an additional 2,686,291 shares during the period. Hedge funds and other institutional investors own 87.18% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Citigroup raised their target price 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. The Goldman Sachs Group reissued a "buy" rating on shares of ServiceNow in a report on Thursday, April 24th. JMP Securities reaffirmed a "market outperform" rating and set a $1,300.00 price objective on shares of ServiceNow in a report on Tuesday, May 6th. Wells Fargo & Company increased their target price on shares of ServiceNow from $1,100.00 to $1,150.00 and gave the stock an "overweight" rating in a research report on Thursday, April 24th. Finally, Needham & Company LLC reissued a "buy" rating and issued a $1,050.00 price target on shares of ServiceNow in a research report on Tuesday, May 6th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-nine have given a buy rating and two have given 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.

ServiceNow Price Performance

NOW stock traded down $14.28 during midday trading on Wednesday, reaching $990.63. The company had a trading volume of 293,652 shares, compared to its average volume of 1,476,760. The firm has a 50-day moving average price of $953.73 and a 200-day moving average price of $972.40. The company has a market capitalization of $205.04 billion, a P/E ratio of 134.77, a P/E/G ratio of 4.63 and a beta of 0.95. ServiceNow, Inc. has a 1 year low of $678.66 and a 1 year high of $1,198.09. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.12 and a quick 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 during the quarter, compared to analyst estimates of $3.09 billion. During the same period in the previous year, the business earned $3.41 earnings per share. The firm's quarterly revenue was up 18.6% compared to the same quarter last year. On average, research analysts anticipate that ServiceNow, Inc. will post 8.93 earnings per share for the current fiscal year.

Insider Transactions at ServiceNow

In related news, CEO William R. Mcdermott sold 2,050 shares of ServiceNow stock in a transaction on Friday, May 30th. The shares were sold at an average price of $1,012.01, for a total value of $2,074,620.50. Following the transaction, the chief executive officer now owns 6,614 shares in the company, valued at $6,693,434.14. This trade represents a 23.66% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Vice Chairman Nicholas Tzitzon sold 1,171 shares of the company's stock in a transaction dated 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 now owns 3,000 shares of the company's stock, valued at approximately $3,060,000. The trade was a 28.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 6,716 shares of company stock worth $6,611,245. 0.38% of the stock is currently owned by corporate insiders.

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.