ServiceNow, Inc. (NYSE:NOW) Shares Sold by Toth Financial Advisory Corp

Toth Financial Advisory Corp lessened its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 1.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,179 shares of the information technology services provider’s stock after selling 16 shares during the quarter. Toth Financial Advisory Corp’s holdings in ServiceNow were worth $899,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in NOW. University of Texas Texas AM Investment Managment Co. acquired a new position in shares of ServiceNow during the fourth quarter valued at approximately $29,000. AdvisorNet Financial Inc increased its stake in shares of ServiceNow by 266.7% during the fourth quarter. AdvisorNet Financial Inc now owns 44 shares of the information technology services provider’s stock valued at $31,000 after acquiring an additional 32 shares during the period. Disciplined Equity Management Inc. acquired a new position in shares of ServiceNow during the fourth quarter valued at approximately $35,000. Sachetta LLC acquired a new position in shares of ServiceNow during the fourth quarter valued at approximately $35,000. Finally, Fortitude Family Office LLC acquired a new position in shares of ServiceNow during the fourth quarter valued at approximately $41,000. Institutional investors and hedge funds own 87.18% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. BMO Capital Markets reduced their target price on shares of ServiceNow from $850.00 to $830.00 and set an “outperform” rating for the company in a report on Thursday, April 25th. Morgan Stanley raised their target price on shares of ServiceNow from $814.00 to $830.00 and gave the stock an “overweight” rating in a report on Thursday, April 25th. Robert W. Baird raised their target price on shares of ServiceNow from $870.00 to $885.00 and gave the stock an “outperform” rating in a report on Tuesday, May 7th. UBS Group reduced their target price on shares of ServiceNow from $920.00 to $875.00 and set a “buy” rating for the company in a report on Thursday, April 25th. Finally, Wells Fargo & Company raised their price objective on shares of ServiceNow from $875.00 to $900.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 16th. Three analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $814.48.

Insider Activity

In other news, insider Christopher Bedi sold 215 shares of the firm’s stock in a transaction on Wednesday, June 5th. The shares were sold at an average price of $700.00, for a total transaction of $150,500.00. Following the transaction, the insider now owns 15,892 shares in the company, valued at approximately $11,124,400. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Nicholas Tzitzon sold 2,000 shares of ServiceNow stock in a transaction 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 transaction, the insider now owns 3,649 shares in the company, valued at approximately $2,521,422.51. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Christopher Bedi sold 215 shares of ServiceNow stock in a transaction 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 transaction, the insider now 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 90 days, insiders have sold 5,530 shares of company stock worth $3,997,012. 0.25% of the stock is owned by corporate insiders.

ServiceNow Stock Up 1.6 %

ServiceNow stock opened at $786.67 on Friday. The company has a market capitalization of $161.27 billion, a P/E ratio of 84.14, a P/E/G ratio of 4.93 and a beta of 0.96. The firm’s fifty day simple moving average is $726.55 and its 200-day simple moving average is $741.06. 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 1-year low of $527.24 and a 1-year high of $815.32.

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

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.