Intellectus Partners LLC Has $696,000 Stock Holdings in ServiceNow, Inc. (NYSE:NOW)

Intellectus Partners LLC reduced its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 36.9% during the 1st quarter, Holdings Channel.com reports. The fund owned 874 shares of the information technology services provider’s stock after selling 511 shares during the period. Intellectus Partners LLC’s holdings in ServiceNow were worth $696,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Quarry LP acquired a new stake in ServiceNow during the fourth quarter valued at approximately $27,000. Atala Financial Inc bought a new position in shares of ServiceNow during the 4th quarter worth approximately $28,000. LFA Lugano Financial Advisors SA bought a new position in shares of ServiceNow during the 4th quarter worth approximately $32,000. Noble Wealth Management PBC acquired a new stake in ServiceNow in the 4th quarter valued at $34,000. Finally, FPC Investment Advisory Inc. grew its position in ServiceNow by 725.0% in the fourth quarter. FPC Investment Advisory Inc. now owns 33 shares of the information technology services provider’s stock valued at $34,000 after acquiring an additional 29 shares during the period. Institutional investors own 87.18% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on NOW. Needham & Company LLC reissued a “buy” rating and set a $1,050.00 price objective on shares of ServiceNow in a report on Tuesday, May 6th. Erste Group Bank raised shares of ServiceNow from a “hold” rating to a “strong-buy” rating in a report on Wednesday, April 30th. Barclays set a $1,085.00 price target on shares of ServiceNow in a research report on Wednesday, May 7th. Bank of America dropped their price objective on shares of ServiceNow from $1,280.00 to $1,025.00 and set a “buy” rating for the company in a report on Tuesday, April 15th. Finally, Redburn Atlantic initiated coverage on ServiceNow in a report on Wednesday, February 19th. They issued a “buy” rating on the stock. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, thirty have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,062.50.

ServiceNow Price Performance

NOW opened at $1,030.70 on Friday. The company has a fifty day moving average price of $919.44 and a two-hundred day moving average price of $974.97. The firm has a market capitalization of $213.34 billion, a PE ratio of 150.91, a P/E/G ratio of 4.51 and a beta of 0.95. ServiceNow, Inc. has a 52 week low of $678.66 and a 52 week high of $1,198.09. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.10 and a current ratio of 1.10.

ServiceNow (NYSE:NOW) last announced its quarterly earnings data on Wednesday, April 23rd. The information technology services provider reported $4.04 EPS for the quarter, topping analysts’ consensus estimates 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 quarterly revenue was up 18.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.41 earnings per share. As a group, analysts anticipate that ServiceNow, Inc. will post 8.93 earnings per share for the current year.

Insider Transactions at ServiceNow

In related news, Director Anita M. Sands sold 428 shares of the firm’s stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $1,013.61, for a total transaction of $433,825.08. Following the sale, the director now owns 10,891 shares of the company’s stock, valued at approximately $11,039,226.51. This trade represents a 3.78% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Jacqueline P. Canney sold 66 shares of ServiceNow stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $1,023.00, for a total value of $67,518.00. Following the transaction, the insider now owns 3,027 shares in the company, valued at approximately $3,096,621. This represents a 2.13% decrease in their ownership of the stock. 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. 0.38% of the stock is currently owned by company insiders.

ServiceNow Company 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.