Shelton Wealth Management LLC Sells 56 Shares of ServiceNow, Inc. (NYSE:NOW)

Shelton Wealth Management LLC reduced its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 4.8% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,105 shares of the information technology services provider’s stock after selling 56 shares during the quarter. Shelton Wealth Management LLC’s holdings in ServiceNow were worth $880,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. grew its stake in shares of ServiceNow by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 19,199,258 shares of the information technology services provider’s stock worth $20,353,517,000 after acquiring an additional 190,430 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of ServiceNow by 6.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 7,955,924 shares of the information technology services provider’s stock valued at $8,434,235,000 after buying an additional 509,467 shares in the last quarter. FMR LLC grew its stake in shares of ServiceNow by 4.9% in the fourth quarter. FMR LLC now owns 5,878,900 shares of the information technology services provider’s stock valued at $6,232,339,000 after buying an additional 272,506 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of ServiceNow by 2.4% in the fourth quarter. Geode Capital Management LLC now owns 4,312,571 shares of the information technology services provider’s stock valued at $4,560,890,000 after buying an additional 100,670 shares in the last quarter. Finally, GAMMA Investing LLC grew its stake in shares of ServiceNow by 87,501.3% in the first quarter. GAMMA Investing LLC now owns 2,689,361 shares of the information technology services provider’s stock valued at $2,141,108,000 after buying an additional 2,686,291 shares in the last quarter. 87.18% of the stock is owned by institutional investors.

Insider Activity at ServiceNow

In related news, insider Jacqueline P. Canney sold 66 shares of the business’s 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 completion of the transaction, the insider now owns 3,027 shares of the company’s stock, valued at $3,096,621. The trade was a 2.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Anita M. Sands sold 248 shares of ServiceNow 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 completion of the transaction, 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 position. 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 over the last quarter. 0.38% of the stock is owned by corporate insiders.

ServiceNow Stock Down 2.4%

NOW opened at $980.29 on Friday. ServiceNow, Inc. has a fifty-two week low of $678.66 and a fifty-two week high of $1,198.09. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.12 and a current ratio of 1.12. The company has a market capitalization of $202.90 billion, a P/E ratio of 133.19, a P/E/G ratio of 4.53 and a beta of 0.95. The stock has a fifty day moving average of $960.74 and a 200-day moving average of $971.98.

ServiceNow (NYSE:NOW) last posted its quarterly earnings results on Wednesday, April 23rd. The information technology services provider reported $4.04 EPS 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 17.34% and a net margin of 13.41%. ServiceNow’s revenue for the quarter was up 18.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.41 earnings per share. On average, equities analysts expect that ServiceNow, Inc. will post 8.93 EPS for the current year.

Analyst Ratings Changes

Several equities analysts recently weighed in on NOW shares. Barclays set a $1,085.00 target price on shares of ServiceNow in a research note on Wednesday, May 7th. Erste Group Bank raised shares of ServiceNow from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, April 30th. FBN Securities raised shares of ServiceNow to a “strong-buy” rating in a research note on Wednesday, June 11th. Wall Street Zen cut shares of ServiceNow from a “buy” rating to a “hold” rating in a research note on Monday, June 9th. Finally, BMO Capital Markets raised their target price on shares of ServiceNow from $1,025.00 to $1,150.00 and gave the company an “outperform” rating in a research note on Wednesday, May 14th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, twenty-nine have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $1,062.50.

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.