ServiceNow, Inc. (NYSE:NOW) Shares Sold by Procyon Advisors LLC

Procyon Advisors LLC trimmed its holdings in ServiceNow, Inc. (NYSE:NOW) by 23.7% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,193 shares of the information technology services provider’s stock after selling 371 shares during the period. Procyon Advisors LLC’s holdings in ServiceNow were worth $910,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in NOW. University of Texas Texas AM Investment Managment Co. purchased a new position in shares of ServiceNow during the 4th quarter worth about $29,000. AdvisorNet Financial Inc lifted its holdings in shares of ServiceNow by 266.7% during the 4th quarter. AdvisorNet Financial Inc now owns 44 shares of the information technology services provider’s stock worth $31,000 after acquiring an additional 32 shares during the period. Sachetta LLC purchased a new position in shares of ServiceNow during the 4th quarter worth about $35,000. Disciplined Equity Management Inc. purchased a new position in shares of ServiceNow during the 4th quarter worth about $35,000. Finally, Fortitude Family Office LLC purchased a new position in shares of ServiceNow during the 4th quarter worth about $41,000. 87.18% of the stock is currently owned by hedge funds and other institutional investors.

ServiceNow Trading Up 2.7 %

NYSE:NOW traded up $20.22 during trading hours on Thursday, hitting $774.13. 1,180,546 shares of the company were exchanged, compared to its average volume of 1,281,515. The stock has a market capitalization of $158.70 billion, a price-to-earnings ratio of 82.41, a price-to-earnings-growth ratio of 4.73 and a beta of 0.96. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.18. ServiceNow, Inc. has a one year low of $527.24 and a one year high of $815.32. The company has a fifty day simple moving average of $724.24 and a 200 day simple moving average of $740.08.

ServiceNow (NYSE:NOW) last posted its quarterly earnings data on Wednesday, April 24th. The information technology services provider reported $1.82 earnings per share for the quarter, topping the consensus estimate of $1.41 by $0.41. The firm had revenue of $2.60 billion during the quarter, compared to analyst estimates of $2.59 billion. ServiceNow had a return on equity of 13.59% and a net margin of 20.34%. Sell-side analysts expect that ServiceNow, Inc. will post 6.5 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on NOW shares. William Blair reiterated an “outperform” rating on shares of ServiceNow in a report on Tuesday, May 7th. Morgan Stanley raised their price target on shares of ServiceNow from $814.00 to $830.00 and gave the company an “overweight” rating in a report on Thursday, April 25th. UBS Group cut their price target on shares of ServiceNow from $920.00 to $875.00 and set a “buy” rating on the stock in a report on Thursday, April 25th. StockNews.com lowered shares of ServiceNow from a “buy” rating to a “hold” rating in a report on Friday, April 26th. Finally, Wells Fargo & Company raised their price target on shares of ServiceNow from $875.00 to $900.00 and gave the company an “overweight” rating in a report on Tuesday, April 16th. Three analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $814.48.

Insider Buying and Selling at ServiceNow

In other news, insider Christopher Bedi sold 215 shares of the business’s stock in a transaction that occurred on Wednesday, June 5th. The stock was sold at an average price of $700.00, for a total value of $150,500.00. Following the transaction, the insider now owns 15,892 shares in the company, valued at approximately $11,124,400. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, insider Nicholas Tzitzon sold 2,000 shares of ServiceNow stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $690.99, for a total value of $1,381,980.00. Following the sale, the insider now owns 3,649 shares of the company’s stock, valued at approximately $2,521,422.51. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Christopher Bedi sold 215 shares of ServiceNow stock in a transaction that occurred on Wednesday, June 5th. The stock was sold at an average price of $700.00, for a total transaction of $150,500.00. Following the completion of the sale, the insider now directly owns 15,892 shares in the company, valued at approximately $11,124,400. The disclosure for this sale can be found here. In the last quarter, insiders sold 5,530 shares of company stock worth $3,997,012. Insiders own 0.25% of the company’s stock.

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.