Yousif Capital Management LLC Sells 245 Shares of ServiceNow, Inc. (NYSE:NOW)

Yousif Capital Management LLC trimmed its holdings in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 1.0% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,213 shares of the information technology services provider's stock after selling 245 shares during the period. Yousif Capital Management LLC's holdings in ServiceNow were worth $20,073,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Quarry LP acquired a new stake in shares of ServiceNow in the 4th quarter valued at $27,000. Atala Financial Inc acquired a new stake in shares of ServiceNow in the 4th quarter valued at $28,000. LFA Lugano Financial Advisors SA acquired a new stake in shares of ServiceNow in the 4th quarter valued at $32,000. FPC Investment Advisory Inc. increased its stake in shares of ServiceNow by 725.0% in the 4th quarter. FPC Investment Advisory Inc. now owns 33 shares of the information technology services provider's stock valued at $34,000 after buying an additional 29 shares during the period. Finally, Noble Wealth Management PBC acquired a new stake in shares of ServiceNow in the 4th quarter valued at $34,000. 87.18% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on NOW. Wells Fargo & Company lifted their target price on ServiceNow from $1,100.00 to $1,150.00 and gave the company an "overweight" rating in a research note on Thursday, April 24th. TD Securities restated a "buy" rating and issued a $1,100.00 price target on shares of ServiceNow in a research report on Thursday, April 24th. JPMorgan Chase & Co. reduced their price target on ServiceNow from $1,200.00 to $970.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 22nd. Stifel Nicolaus raised their price target on ServiceNow from $975.00 to $1,050.00 and gave the stock a "buy" rating in a research report on Tuesday, May 6th. Finally, Robert W. Baird raised their price target on ServiceNow from $1,010.00 to $1,150.00 and gave the stock an "outperform" rating in a research report on Thursday, April 24th. One 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 given a strong buy rating to the stock. According to MarketBeat, ServiceNow currently has an average rating of "Moderate Buy" and an average price target of $1,062.50.

ServiceNow Trading Down 0.6%

NYSE NOW traded down $6.13 on Wednesday, reaching $1,003.66. The company had a trading volume of 741,971 shares, compared to its average volume of 1,482,236. The firm has a market cap of $207.74 billion, a price-to-earnings ratio of 146.95, a P/E/G ratio of 4.51 and a beta of 0.95. ServiceNow, Inc. has a fifty-two week low of $678.66 and a fifty-two week high of $1,198.09. The business has a 50 day moving average of $928.22 and a two-hundred day moving average of $974.13. 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 posted its quarterly earnings data on Wednesday, April 23rd. The information technology services provider reported $4.04 earnings per share for the quarter, beating analysts' consensus estimates of $3.78 by $0.26. The business had revenue of $3.09 billion during the quarter, compared to the consensus estimate of $3.09 billion. ServiceNow had a return on equity of 17.11% and a net margin of 12.97%. ServiceNow's quarterly revenue was up 18.6% on a year-over-year basis. During the same period in the prior year, the business posted $3.41 earnings per share. Analysts forecast that ServiceNow, Inc. will post 8.93 EPS for the current year.

Insiders Place Their Bets

In other news, Director Anita M. Sands sold 428 shares of the stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $1,013.61, for a total transaction of $433,825.08. Following the transaction, the director now owns 10,891 shares of the company's stock, valued at $11,039,226.51. This represents a 3.78% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Vice Chairman Nicholas Tzitzon sold 1,171 shares of the stock in a transaction dated Friday, May 30th. The stock was sold at an average price of $1,020.00, for a total transaction of $1,194,420.00. Following the transaction, the insider now directly owns 3,000 shares in the company, valued at $3,060,000. This trade represents a 28.07% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 6,716 shares of company stock worth $6,611,245. Company insiders own 0.38% of the company's stock.

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.