Hartline Investment Corp Sells 27,568 Shares of ServiceNow, Inc. (NYSE:NOW)

Hartline Investment Corp lessened its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 98.8% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 348 shares of the information technology services provider’s stock after selling 27,568 shares during the quarter. Hartline Investment Corp’s holdings in ServiceNow were worth $265,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of NOW. University of Texas Texas AM Investment Managment Co. bought a new stake in shares of ServiceNow in the fourth quarter worth $29,000. AdvisorNet Financial Inc lifted its holdings in ServiceNow by 266.7% in the fourth quarter. AdvisorNet Financial Inc now owns 44 shares of the information technology services provider’s stock valued at $31,000 after buying an additional 32 shares during the period. Sachetta LLC acquired a new position in ServiceNow in the fourth quarter valued at $35,000. Disciplined Equity Management Inc. acquired a new position in ServiceNow in the fourth quarter valued at $35,000. Finally, PFG Private Wealth Management LLC acquired a new position in ServiceNow in the first quarter valued at $38,000. Institutional investors own 87.18% of the company’s stock.

ServiceNow Price Performance

NYSE NOW traded up $20.55 on Friday, hitting $806.47. The stock had a trading volume of 1,183,601 shares, compared to its average volume of 1,274,274. ServiceNow, Inc. has a 52-week low of $527.24 and a 52-week high of $815.32. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.05 and a current ratio of 1.05. The company has a market capitalization of $165.33 billion, a price-to-earnings ratio of 84.83, a price-to-earnings-growth ratio of 4.93 and a beta of 0.99. The firm has a 50-day moving average of $731.14 and a 200-day moving average of $743.28.

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

Insider Activity

In other news, insider Nicholas Tzitzon sold 2,000 shares of the firm’s stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $690.99, for a total transaction of $1,381,980.00. Following the sale, the insider now owns 3,649 shares in the company, valued at approximately $2,521,422.51. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, insider Nicholas Tzitzon sold 2,000 shares of the stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $690.99, for a total transaction of $1,381,980.00. Following the transaction, 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 SEC, which is available through the SEC website. Also, insider Paul John Smith sold 125 shares of the stock in a transaction on Monday, May 13th. The shares were sold at an average price of $727.38, for a total transaction of $90,922.50. Following the transaction, the insider now directly owns 3,112 shares in the company, valued at approximately $2,263,606.56. The disclosure for this sale can be found here. In the last quarter, insiders have sold 5,530 shares of company stock worth $3,997,012. 0.25% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. UBS Group dropped their target price 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. Guggenheim reiterated a “neutral” rating on shares of ServiceNow in a report on Monday, April 15th. Wolfe Research reiterated an “outperform” rating and set a $830.00 price objective on shares of ServiceNow in a report on Friday, May 10th. Needham & Company LLC reiterated a “buy” rating and set a $900.00 price objective on shares of ServiceNow in a report on Tuesday, June 18th. Finally, Robert W. Baird upped their price objective on shares of ServiceNow from $870.00 to $885.00 and gave the company an “outperform” rating in a report on Tuesday, May 7th. Three analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $813.28.

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.