Zevenbergen Capital Investments LLC Sells 8,450 Shares of ServiceNow, Inc. (NYSE:NOW)

Zevenbergen Capital Investments LLC trimmed its position in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 4.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 163,568 shares of the information technology services provider's stock after selling 8,450 shares during the period. ServiceNow makes up 2.7% of Zevenbergen Capital Investments LLC's portfolio, making the stock its 14th biggest holding. Zevenbergen Capital Investments LLC owned approximately 0.08% of ServiceNow worth $115,559,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of NOW. Argonautica Private Wealth Management Inc. lifted its stake in shares of ServiceNow by 1.0% in the fourth quarter. Argonautica Private Wealth Management Inc. now owns 1,376 shares of the information technology services provider's stock valued at $972,000 after buying an additional 13 shares during the period. Wealth Management Partners LLC lifted its stake in ServiceNow by 2.7% during the fourth quarter. Wealth Management Partners LLC now owns 531 shares of the information technology services provider's stock worth $375,000 after purchasing an additional 14 shares during the period. Oliver Lagore Vanvalin Investment Group lifted its stake in ServiceNow by 30.4% during the fourth quarter. Oliver Lagore Vanvalin Investment Group now owns 60 shares of the information technology services provider's stock worth $42,000 after purchasing an additional 14 shares during the period. Trust Co. of Vermont lifted its stake in ServiceNow by 8.6% during the third quarter. Trust Co. of Vermont now owns 190 shares of the information technology services provider's stock worth $106,000 after purchasing an additional 15 shares during the period. Finally, Claro Advisors LLC lifted its stake in ServiceNow by 3.6% during the fourth quarter. Claro Advisors LLC now owns 428 shares of the information technology services provider's stock worth $302,000 after purchasing an additional 15 shares during the period. 87.18% of the stock is currently owned by institutional investors.

ServiceNow Trading Up 0.9 %

NOW traded up $7.04 during trading on Friday, reaching $765.05. 887,753 shares of the company's stock were exchanged, compared to its average volume of 1,388,393. The company's fifty day moving average price is $747.66 and its 200-day moving average price is $726.70. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.05 and a current ratio of 1.05. ServiceNow, Inc. has a fifty-two week low of $494.13 and a fifty-two week high of $815.32. The firm has a market capitalization of $156.84 billion, a PE ratio of 81.82, a P/E/G ratio of 4.76 and a beta of 0.98.

ServiceNow (NYSE:NOW - Get Free Report) last released its earnings results on Wednesday, April 24th. The information technology services provider reported $1.82 EPS for the quarter, topping analysts' consensus estimates of $1.41 by $0.41. ServiceNow had a net margin of 20.34% and a return on equity of 13.59%. The firm had revenue of $2.60 billion during the quarter, compared to analyst estimates of $2.59 billion. As a group, equities analysts forecast that ServiceNow, Inc. will post 6.49 EPS for the current year.

Insider Activity

In other news, insider Paul John Smith sold 5,159 shares of the business's stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $745.32, for a total value of $3,845,105.88. Following the completion of the transaction, the insider now owns 5,453 shares of the company's stock, valued at approximately $4,064,229.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, insider Paul John Smith sold 5,159 shares of the business's stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $745.32, for a total value of $3,845,105.88. Following the completion of the transaction, the insider now owns 5,453 shares of the company's stock, valued at approximately $4,064,229.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO William R. Mcdermott sold 5,030 shares of the business's stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $753.08, for a total transaction of $3,787,992.40. Following the completion of the transaction, the chief executive officer now directly owns 17,177 shares of the company's stock, valued at approximately $12,935,655.16. The disclosure for this sale can be found here. Insiders sold 10,504 shares of company stock valued at $7,860,589 in the last quarter. Company insiders own 0.25% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on NOW shares. Wells Fargo & Company raised their price target on shares of ServiceNow from $875.00 to $900.00 and gave the stock an "overweight" rating in a research note on Tuesday, April 16th. Citigroup raised their price target on shares of ServiceNow from $896.00 to $906.00 and gave the stock a "buy" rating in a research note on Thursday, April 18th. KeyCorp cut their price target on shares of ServiceNow from $1,000.00 to $950.00 and set an "overweight" rating for the company in a research note on Thursday, April 25th. JMP Securities reiterated a "market outperform" rating and issued a $825.00 target price on shares of ServiceNow in a research note on Tuesday, May 7th. Finally, Piper Sandler lifted their target price on shares of ServiceNow from $750.00 to $830.00 and gave the company an "overweight" rating in a research note on Thursday, January 25th. Three equities research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $808.73.

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.