West Branch Capital LLC Sells 308 Shares of ServiceNow, Inc. (NYSE:NOW)

West Branch Capital LLC trimmed its stake in ServiceNow, Inc. (NYSE:NOW - Free Report) by 73.9% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 109 shares of the information technology services provider's stock after selling 308 shares during the quarter. West Branch Capital LLC's holdings in ServiceNow were worth $87,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of NOW. Brighton Jones LLC grew its holdings in shares of ServiceNow by 1.1% during the fourth quarter. Brighton Jones LLC now owns 2,753 shares of the information technology services provider's stock valued at $2,919,000 after buying an additional 30 shares in the last quarter. Union Bancaire Privee UBP SA purchased a new position in shares of ServiceNow during the fourth quarter valued at $48,802,000. Stonebridge Financial Group LLC purchased a new position in shares of ServiceNow during the fourth quarter valued at $37,000. Leavell Investment Management Inc. purchased a new position in shares of ServiceNow during the fourth quarter valued at $246,000. Finally, Avidian Wealth Enterprises LLC grew its holdings in shares of ServiceNow by 1.8% during the fourth quarter. Avidian Wealth Enterprises LLC now owns 497 shares of the information technology services provider's stock valued at $527,000 after buying an additional 9 shares in the last quarter. 87.18% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at ServiceNow

In other ServiceNow news, insider Jacqueline P. Canney sold 354 shares of the company's stock in a transaction that occurred on Wednesday, April 16th. The stock was sold at an average price of $804.61, for a total value of $284,831.94. Following the completion of the transaction, the insider now owns 3,027 shares of the company's stock, valued at $2,435,554.47. This represents a 10.47% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Anita M. Sands sold 248 shares of the company's stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $1,009.14, for a total value of $250,266.72. Following the completion of the sale, the director now owns 10,643 shares in the company, valued at approximately $10,740,277.02. This represents a 2.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 6,716 shares of company stock valued at $6,611,245 in the last quarter. Corporate insiders own 0.38% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on NOW. Raymond James lowered their price target on ServiceNow from $1,200.00 to $1,000.00 and set an "outperform" rating on the stock in a report on Tuesday, April 8th. Jefferies Financial Group lowered their price target on ServiceNow from $1,250.00 to $1,025.00 and set a "buy" rating on the stock in a report on Tuesday, April 15th. Evercore ISI lifted their price target on ServiceNow from $925.00 to $1,000.00 and gave the company an "outperform" rating in a report on Thursday, April 24th. Oppenheimer restated an "outperform" rating and issued a $1,100.00 target price (up previously from $970.00) on shares of ServiceNow in a research note on Tuesday, May 6th. Finally, Redburn Atlantic assumed coverage on ServiceNow in a research note on Wednesday, February 19th. They issued a "buy" rating on the stock. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, twenty-nine have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $1,062.50.

ServiceNow Stock Performance

Shares of NYSE NOW traded down $19.66 during trading hours on Friday, hitting $987.71. 1,332,159 shares of the company's stock were exchanged, compared to its average volume of 1,483,399. 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 1.10 and a quick ratio of 1.10. The stock has a market capitalization of $204.44 billion, a price-to-earnings ratio of 144.61, a PEG ratio of 4.51 and a beta of 0.95. The company's 50-day moving average price is $944.56 and its 200-day moving average price is $972.97.

ServiceNow (NYSE:NOW - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The information technology services provider reported $4.04 earnings per share for the quarter, topping the consensus estimate of $3.78 by $0.26. The business had revenue of $3.09 billion during the quarter, compared to analysts' expectations of $3.09 billion. ServiceNow had a return on equity of 17.11% and a net margin of 12.97%. The firm's revenue was up 18.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.41 EPS. On average, sell-side analysts expect that ServiceNow, Inc. will post 8.93 earnings per share for the current fiscal 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.