ServiceNow, Inc. (NYSE:NOW) Stock Position Reduced by BSW Wealth Partners

BSW Wealth Partners cut its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 11.5% during the first quarter, HoldingsChannel.com reports. The firm owned 835 shares of the information technology services provider’s stock after selling 109 shares during the period. BSW Wealth Partners’ holdings in ServiceNow were worth $665,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in NOW. Janus Henderson Group PLC grew its position in ServiceNow by 1.5% in the fourth quarter. Janus Henderson Group PLC now owns 824,725 shares of the information technology services provider’s stock worth $874,258,000 after acquiring an additional 12,533 shares in the last quarter. FMR LLC grew its position in ServiceNow by 4.9% in 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 in the last quarter. Duncker Streett & Co. Inc. grew its position in ServiceNow by 4.8% in the fourth quarter. Duncker Streett & Co. Inc. now owns 6,376 shares of the information technology services provider’s stock worth $6,759,000 after acquiring an additional 290 shares in the last quarter. Nicholas Investment Partners LP grew its position in ServiceNow by 223.5% in the fourth quarter. Nicholas Investment Partners LP now owns 2,805 shares of the information technology services provider’s stock worth $2,974,000 after acquiring an additional 1,938 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in ServiceNow by 18.8% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 196,783 shares of the information technology services provider’s stock worth $209,103,000 after acquiring an additional 31,125 shares in the last quarter. 87.18% of the stock is owned by hedge funds and other institutional investors.

ServiceNow Trading Up 1.2%

Shares of NOW stock opened at $1,023.56 on Friday. ServiceNow, Inc. has a 52-week low of $678.66 and a 52-week high of $1,198.09. The stock has a market cap of $211.86 billion, a price-to-earnings ratio of 139.07, a P/E/G ratio of 4.65 and a beta of 0.95. 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 firm has a fifty day moving average of $985.61 and a 200-day moving average of $967.23.

ServiceNow (NYSE:NOW) last announced its quarterly earnings data on Wednesday, April 23rd. The information technology services provider reported $4.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.78 by $0.26. ServiceNow had a net margin of 13.41% and a return on equity of 17.34%. The company had revenue of $3.09 billion during the quarter, compared to analysts’ expectations of $3.09 billion. During the same quarter in the prior year, the company posted $3.41 EPS. The business’s revenue was up 18.6% on a year-over-year basis. On average, equities research analysts forecast that ServiceNow, Inc. will post 8.93 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO William R. Mcdermott sold 2,050 shares of the stock in a transaction on Friday, May 30th. The shares were sold at an average price of $1,012.01, for a total value of $2,074,620.50. Following the completion of the transaction, the chief executive officer now owns 6,614 shares in the company, valued at approximately $6,693,434.14. This represents a 23.66% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, General Counsel Russell S. Elmer sold 191 shares of the company’s stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $985.00, for a total transaction of $188,135.00. Following the completion of the sale, the general counsel now directly owns 4,332 shares in the company, valued at approximately $4,267,020. The trade was a 4.22% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 6,716 shares of company stock worth $6,611,245. 0.38% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several analysts have commented on the stock. Bank of America decreased their target price on shares of ServiceNow from $1,280.00 to $1,025.00 and set a “buy” rating for the company in a research report on Tuesday, April 15th. Wells Fargo & Company boosted their target price on shares of ServiceNow from $1,100.00 to $1,150.00 and gave the stock an “overweight” rating in a research report on Thursday, April 24th. Robert W. Baird boosted their price objective on shares of ServiceNow from $1,010.00 to $1,150.00 and gave the stock an “outperform” rating in a research note on Thursday, April 24th. Citigroup boosted their price objective on shares of ServiceNow from $1,128.00 to $1,160.00 and gave the stock a “buy” rating in a research note on Wednesday, May 7th. Finally, TD Securities restated a “buy” rating and issued a $1,100.00 price objective on shares of ServiceNow in a research note on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, thirty-one have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,065.32.

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.