ServiceNow, Inc. (NYSE:NOW) Shares Sold by Wesbanco Bank Inc.

Wesbanco Bank Inc. decreased its position in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 36.5% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 539 shares of the information technology services provider's stock after selling 310 shares during the quarter. Wesbanco Bank Inc.'s holdings in ServiceNow were worth $429,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in ServiceNow by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 19,199,258 shares of the information technology services provider's stock valued at $20,353,517,000 after acquiring an additional 190,430 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in ServiceNow by 6.8% during 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 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 acquiring an additional 272,506 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of ServiceNow by 2.4% in 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 acquiring an additional 100,670 shares during the last quarter. Finally, GAMMA Investing LLC boosted its stake 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 valued at $2,141,108,000 after purchasing an additional 2,686,291 shares in the last quarter. 87.18% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on NOW. Jefferies Financial Group reduced their price objective 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. Robert W. Baird upped their price objective on shares of ServiceNow from $1,010.00 to $1,150.00 and gave the stock an "outperform" rating in a report on Thursday, April 24th. Raymond James dropped their price target on ServiceNow from $1,200.00 to $1,000.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 8th. Royal Bank of Canada boosted their target price on shares of ServiceNow from $1,060.00 to $1,100.00 and gave the company an "outperform" rating in a report on Tuesday, May 6th. Finally, Evercore ISI raised their target price on shares of ServiceNow from $925.00 to $1,000.00 and gave the company an "outperform" rating in a research note on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-nine have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $1,062.50.

ServiceNow Price Performance

NYSE NOW traded up $4.01 during trading hours on Thursday, reaching $1,008.34. The company's stock had a trading volume of 178,673 shares, compared to its average volume of 1,477,168. The company's 50-day moving average is $933.88 and its two-hundred day moving average is $974.34. ServiceNow, Inc. has a 1-year low of $678.66 and a 1-year high of $1,198.09. The firm has a market capitalization of $208.71 billion, a price-to-earnings ratio of 147.63, a P/E/G ratio of 4.51 and a beta of 0.95. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.10 and a quick ratio of 1.10.

ServiceNow (NYSE:NOW - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The information technology services provider reported $4.04 EPS for the quarter, beating the consensus estimate of $3.78 by $0.26. The business had revenue of $3.09 billion for the quarter, compared to analyst estimates of $3.09 billion. ServiceNow had a return on equity of 17.11% and a net margin of 12.97%. The company's quarterly revenue was up 18.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.41 EPS. On average, equities analysts predict that ServiceNow, Inc. will post 8.93 EPS for the current year.

Insider Transactions at ServiceNow

In related news, CEO William R. Mcdermott sold 2,050 shares of the business's stock in a transaction that occurred on Friday, May 30th. The stock was sold at an average price of $1,012.01, for a total transaction of $2,074,620.50. Following the completion of the sale, the chief executive officer now owns 6,614 shares in the company, valued at $6,693,434.14. The trade was a 23.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Anita M. Sands sold 248 shares of the business's stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $1,009.14, for a total transaction of $250,266.72. Following the sale, the director now owns 10,643 shares of the company's stock, valued at $10,740,277.02. This represents a 2.28% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 6,716 shares of company stock valued at $6,611,245. 0.38% of the stock is currently owned by corporate insiders.

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.