ServiceNow, Inc. (NYSE:NOW) Shares Sold by Walter Public Investments Inc.

Walter Public Investments Inc. decreased its position in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 30.6% during the first quarter, according to its most recent filing with the SEC. The firm owned 16,630 shares of the information technology services provider's stock after selling 7,324 shares during the period. ServiceNow comprises about 2.5% of Walter Public Investments Inc.'s holdings, making the stock its 21st largest holding. Walter Public Investments Inc.'s holdings in ServiceNow were worth $13,240,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in NOW. GAMMA Investing LLC increased its position in ServiceNow by 87,501.3% during the 1st 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 in the last quarter. Norges Bank purchased a new stake in ServiceNow during the 4th quarter valued at $2,603,360,000. Proficio Capital Partners LLC boosted its stake in ServiceNow by 154,255.3% during the 4th quarter. Proficio Capital Partners LLC now owns 666,815 shares of the information technology services provider's stock valued at $667,000 after purchasing an additional 666,383 shares during the last quarter. 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 last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its stake in ServiceNow by 36.7% during 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 purchasing an additional 491,861 shares during the last quarter. Hedge funds and other institutional investors own 87.18% of the company's stock.

Insider Activity

In related news, CEO William R. Mcdermott sold 2,050 shares of the company's stock in a transaction dated Friday, May 30th. The shares were sold at an average price of $1,012.01, for a total transaction of $2,074,620.50. Following the completion of the transaction, the chief executive officer owned 6,614 shares in the company, valued at $6,693,434.14. This represents a 23.66% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Deborah Black sold 598 shares of the company's stock in a transaction dated Friday, April 25th. The stock was sold at an average price of $940.23, for a total transaction of $562,257.54. Following the transaction, the director owned 428 shares of the company's stock, valued at approximately $402,418.44. This trade represents a 58.28% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 6,955 shares of company stock worth $6,862,195. Company insiders own 0.38% of the company's stock.

ServiceNow Stock Performance

NYSE:NOW traded down $11.65 during mid-day trading on Tuesday, hitting $1,023.36. The company's stock had a trading volume of 1,459,490 shares, compared to its average volume of 1,485,947. 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. The stock has a market cap of $211.82 billion, a price-to-earnings ratio of 139.04, a PEG ratio of 4.80 and a beta of 0.94. The business's fifty day moving average is $1,005.88 and its two-hundred day moving average is $961.79.

ServiceNow (NYSE:NOW - Get Free Report) last posted 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 business had revenue of $3.09 billion for the quarter, compared to analyst estimates of $3.09 billion. During the same period in the prior year, the company posted $3.41 EPS. The company's revenue for the quarter was up 18.6% on a year-over-year basis. Analysts anticipate that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

NOW has been the topic of a number of research reports. Jefferies Financial Group dropped their price target on ServiceNow from $1,250.00 to $1,025.00 and set a "buy" rating on the stock in a research note on Tuesday, April 15th. Royal Bank Of Canada raised their price target on ServiceNow from $1,060.00 to $1,100.00 and gave the company an "outperform" rating in a report on Tuesday, May 6th. DA Davidson began coverage on ServiceNow in a report on Wednesday, June 25th. They issued a "buy" rating and a $1,150.00 target price on the stock. Bank of America reduced their target price on ServiceNow from $1,280.00 to $1,025.00 and set a "buy" rating on the stock in a report on Tuesday, April 15th. Finally, TD Securities reiterated a "buy" rating and issued a $1,100.00 price target on shares of ServiceNow in a research report on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, thirty have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $1,068.23.

ServiceNow 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.