ServiceNow, Inc. (NYSE:NOW) Shares Sold by GPS Wealth Strategies Group LLC

GPS Wealth Strategies Group LLC lowered its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 9.8% during the first quarter, Holdings Channel reports. The fund owned 6,549 shares of the information technology services provider’s stock after selling 715 shares during the quarter. ServiceNow comprises 0.7% of GPS Wealth Strategies Group LLC’s portfolio, making the stock its 27th biggest holding. GPS Wealth Strategies Group LLC’s holdings in ServiceNow were worth $5,214,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Janus Henderson Group PLC increased its holdings in shares of ServiceNow by 1.5% during the 4th quarter. Janus Henderson Group PLC now owns 824,725 shares of the information technology services provider’s stock worth $874,258,000 after buying an additional 12,533 shares during the last quarter. Union Bancaire Privee UBP SA purchased a new stake in ServiceNow during the fourth quarter valued at about $48,802,000. FMR LLC increased its stake 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 worth $6,232,339,000 after acquiring an additional 272,506 shares during the last quarter. Duncker Streett & Co. Inc. raised its holdings in shares of ServiceNow by 4.8% in the 4th quarter. Duncker Streett & Co. Inc. now owns 6,376 shares of the information technology services provider’s stock worth $6,759,000 after purchasing an additional 290 shares during the period. Finally, Nicholas Investment Partners LP lifted its stake in shares of ServiceNow by 223.5% in the 4th quarter. Nicholas Investment Partners LP now owns 2,805 shares of the information technology services provider’s stock valued at $2,974,000 after purchasing an additional 1,938 shares in the last quarter. Institutional investors and hedge funds own 87.18% of the company’s stock.

ServiceNow Stock Performance

ServiceNow stock opened at $1,003.66 on Thursday. The firm has a market capitalization of $207.74 billion, a P/E ratio of 146.95, 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, Inc. has a 52-week low of $678.66 and a 52-week high of $1,198.09. The stock has a fifty day moving average price of $933.88 and a two-hundred day moving average price of $974.34.

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 firm had revenue of $3.09 billion during 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 revenue was up 18.6% on a year-over-year basis. During the same period last year, the company earned $3.41 earnings per share. As a group, analysts anticipate that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

NOW has been the topic of several research reports. Oppenheimer reissued an “outperform” rating and issued a $1,100.00 price objective (up from $970.00) on shares of ServiceNow in a research report on Tuesday, May 6th. Sanford C. Bernstein reiterated an “outperform” rating and set a $1,003.00 price objective on shares of ServiceNow in a research note on Thursday, April 24th. William Blair restated an “outperform” rating on shares of ServiceNow in a research report on Friday, March 7th. Erste Group Bank raised shares of ServiceNow from a “hold” rating to a “strong-buy” rating in a report on Wednesday, April 30th. Finally, Morgan Stanley lifted their price target on ServiceNow from $881.00 to $950.00 and gave the company an “equal weight” rating in a research report on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-nine have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $1,062.50.

Insiders Place Their Bets

In other ServiceNow news, Director Anita M. Sands sold 248 shares of the stock in a transaction dated 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 transaction, the director now directly 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Vice Chairman Nicholas Tzitzon sold 1,171 shares of the company’s stock in a transaction on Friday, May 30th. The shares were sold at an average price of $1,020.00, for a total value of $1,194,420.00. Following the completion of the transaction, the insider now directly owns 3,000 shares in the company, valued at approximately $3,060,000. This represents a 28.07% 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. 0.38% of the stock is currently owned by insiders.

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.