ServiceNow, Inc. (NYSE:NOW) Holdings Decreased by Lewis Asset Management LLC

Lewis Asset Management LLC trimmed its position in ServiceNow, Inc. (NYSE:NOW) by 2.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 777 shares of the information technology services provider’s stock after selling 17 shares during the quarter. Lewis Asset Management LLC’s holdings in ServiceNow were worth $619,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. boosted its position in 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 valued at $20,353,517,000 after purchasing an additional 190,430 shares during the period. Price T Rowe Associates Inc. MD boosted its position in ServiceNow by 6.8% during the 4th 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 purchasing an additional 509,467 shares during the period. FMR LLC boosted its position in ServiceNow by 4.9% during the 4th 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 period. Geode Capital Management LLC boosted its position in ServiceNow by 2.4% during the 4th quarter. Geode Capital Management LLC now owns 4,312,571 shares of the information technology services provider’s stock worth $4,560,890,000 after acquiring an additional 100,670 shares during the period. Finally, GAMMA Investing LLC boosted its position in ServiceNow by 87,501.3% during the 1st quarter. GAMMA Investing LLC now owns 2,689,361 shares of the information technology services provider’s stock worth $2,141,108,000 after acquiring an additional 2,686,291 shares during the period. 87.18% of the stock is currently owned by institutional investors.

ServiceNow Trading Up 0.4%

NYSE:NOW opened at $962.86 on Monday. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.12 and a quick ratio of 1.12. The stock has a market capitalization of $199.29 billion, a PE ratio of 130.90, a price-to-earnings-growth ratio of 4.43 and a beta of 0.94. The business’s 50-day simple moving average is $1,006.53 and its 200-day simple moving average is $955.01. ServiceNow, Inc. has a fifty-two week low of $678.66 and a fifty-two week high of $1,198.09.

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

Insider Activity

In other news, Director Jonathan Chadwick sold 770 shares of the business’s stock in a transaction on Monday, April 28th. The stock was sold at an average price of $931.62, for a total transaction of $717,347.40. Following the completion of the transaction, the director owned 3,205 shares of the company’s stock, valued at approximately $2,985,842.10. The trade was a 19.37% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Deborah Black sold 598 shares of the business’s stock in a transaction dated Friday, April 25th. The shares were sold at an average price of $940.23, for a total value of $562,257.54. Following the completion of the transaction, the director directly owned 428 shares in the company, valued at $402,418.44. This represents a 58.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 6,601 shares of company stock worth $6,577,363. 0.38% of the stock is currently owned by insiders.

Analyst Ratings Changes

NOW has been the subject of a number of analyst reports. Truist Financial upgraded ServiceNow from a “hold” rating to a “buy” rating and boosted their price target for the stock from $950.00 to $1,200.00 in a research report on Thursday, May 1st. Barclays set a $1,085.00 target price on ServiceNow in a research note on Wednesday, May 7th. BMO Capital Markets raised their target price on ServiceNow from $1,025.00 to $1,150.00 and gave the company an “outperform” rating in a research note on Wednesday, May 14th. Canaccord Genuity Group lowered their price objective on shares of ServiceNow from $1,275.00 to $900.00 and set a “buy” rating on the stock in a research note on Tuesday, April 22nd. Finally, DA Davidson assumed coverage on shares of ServiceNow in a report on Wednesday, June 25th. They issued a “buy” rating and a $1,150.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, thirty have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $1,075.87.

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.