ServiceNow, Inc. (NYSE:NOW) Position Cut by Atria Investments Inc

Atria Investments Inc reduced its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 12.6% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 21,863 shares of the information technology services provider’s stock after selling 3,163 shares during the quarter. Atria Investments Inc’s holdings in ServiceNow were worth $17,406,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Princeton Capital Management LLC bought a new stake in shares of ServiceNow during the first quarter valued at about $1,108,000. Journey Strategic Wealth LLC grew its holdings in ServiceNow by 3.6% during the first quarter. Journey Strategic Wealth LLC now owns 519 shares of the information technology services provider’s stock worth $413,000 after acquiring an additional 18 shares during the period. Kovack Advisors Inc. grew its holdings in ServiceNow by 6.7% during the first quarter. Kovack Advisors Inc. now owns 4,358 shares of the information technology services provider’s stock worth $3,470,000 after acquiring an additional 274 shares during the period. Holistic Financial Partners grew its holdings in ServiceNow by 7.1% during the first quarter. Holistic Financial Partners now owns 540 shares of the information technology services provider’s stock worth $430,000 after acquiring an additional 36 shares during the period. Finally, Carnegie Investment Counsel grew its holdings in ServiceNow by 12.4% during the first quarter. Carnegie Investment Counsel now owns 272 shares of the information technology services provider’s stock worth $201,000 after acquiring an additional 30 shares during the period. 87.18% of the stock is currently owned by institutional investors.

ServiceNow Stock Performance

NOW traded up $31.35 on Thursday, hitting $987.78. The company had a trading volume of 1,739,090 shares, compared to its average volume of 1,676,609. The company’s fifty day moving average price is $1,002.51 and its 200 day moving average price is $954.31. ServiceNow, Inc. has a 1-year low of $678.66 and a 1-year high of $1,198.09. 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 cap of $204.45 billion, a price-to-earnings ratio of 134.21, a price-to-earnings-growth ratio of 4.41 and a beta of 0.94.

ServiceNow (NYSE:NOW) last posted its earnings results on Wednesday, July 23rd. The information technology services provider reported $4.09 earnings per share for the quarter, topping the consensus estimate of $3.57 by $0.52. ServiceNow had a return on equity of 17.34% and a net margin of 13.41%. The firm had revenue of $3.22 billion during the quarter, compared to analyst estimates of $3.12 billion. During the same period in the previous year, the company earned $3.13 EPS. The company’s revenue for the quarter was up 22.4% on a year-over-year basis. Equities analysts predict that ServiceNow, Inc. will post 8.93 earnings per share for the current fiscal year.

Insider Transactions at ServiceNow

In other news, General Counsel Russell S. Elmer sold 62 shares of the company’s stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $1,023.00, for a total transaction of $63,426.00. Following the completion of the transaction, the general counsel directly owned 4,332 shares in the company, valued at $4,431,636. The trade was a 1.41% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO William R. Mcdermott sold 2,050 shares of the company’s 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 owned 6,614 shares of the company’s stock, valued at $6,693,434.14. The trade was a 23.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 6,601 shares of company stock worth $6,577,363. 0.38% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

NOW has been the topic of a number of research analyst reports. TD Securities reaffirmed a “buy” rating and set a $1,100.00 target price on shares of ServiceNow in a report on Thursday, April 24th. Citigroup lifted their price target on ServiceNow from $1,128.00 to $1,160.00 and gave the stock a “buy” rating in a research note on Wednesday, May 7th. Wall Street Zen cut ServiceNow from a “buy” rating to a “hold” rating in a research note on Monday. Stifel Nicolaus lifted their price target on ServiceNow from $975.00 to $1,050.00 and gave the stock a “buy” rating in a research note on Tuesday, May 6th. Finally, Erste Group Bank reissued a “hold” rating on shares of ServiceNow in a research note on Wednesday. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $1,091.68.

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.