ServiceNow, Inc. (NYSE:NOW) Shares Sold by Barrier Capital Management LLC

Barrier Capital Management LLC lowered its position in shares of ServiceNow, Inc. (NYSE:NOW) by 17.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,105 shares of the information technology services provider’s stock after selling 1,700 shares during the period. ServiceNow accounts for approximately 4.4% of Barrier Capital Management LLC’s portfolio, making the stock its 11th largest position. Barrier Capital Management LLC’s holdings in ServiceNow were worth $3,767,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of NOW. CoreCap Advisors LLC acquired a new position in ServiceNow in the fourth quarter valued at $27,000. Barrett & Company Inc. acquired a new position in ServiceNow in the first quarter valued at $28,000. High Net Worth Advisory Group LLC acquired a new position in ServiceNow in the first quarter valued at $29,000. Larson Financial Group LLC boosted its stake in ServiceNow by 153.8% in the first quarter. Larson Financial Group LLC now owns 66 shares of the information technology services provider’s stock valued at $31,000 after acquiring an additional 40 shares in the last quarter. Finally, Resources Management Corp CT ADV boosted its stake in ServiceNow by 233.3% in the first quarter. Resources Management Corp CT ADV now owns 500 shares of the information technology services provider’s stock valued at $35,000 after acquiring an additional 350 shares in the last quarter. Institutional investors and hedge funds own 87.14% of the company’s stock.

Insider Transactions at ServiceNow

In other news, CFO Gina Mastantuono sold 759 shares of the firm’s stock in a transaction that occurred on Friday, July 7th. The shares were sold at an average price of $552.98, for a total transaction of $419,711.82. Following the completion of the transaction, the chief financial officer now directly owns 7,357 shares of the company’s stock, valued at approximately $4,068,273.86. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other ServiceNow news, CFO Gina Mastantuono sold 759 shares of ServiceNow stock in a transaction on Friday, July 7th. The shares were sold at an average price of $552.98, for a total value of $419,711.82. Following the transaction, the chief financial officer now owns 7,357 shares in the company, valued at approximately $4,068,273.86. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO Chirantan Jitendra Desai sold 4,500 shares of ServiceNow stock in a transaction on Thursday, August 31st. The shares were sold at an average price of $592.10, for a total transaction of $2,664,450.00. Following the completion of the transaction, the chief operating officer now owns 41,307 shares in the company, valued at approximately $24,457,874.70. The disclosure for this sale can be found here. Insiders sold a total of 17,951 shares of company stock valued at $10,147,437 in the last ninety days. Corporate insiders own 0.24% of the company’s stock.

ServiceNow Trading Up 1.0 %

Shares of NOW opened at $605.92 on Tuesday. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.14 and a quick ratio of 1.14. The firm has a 50 day simple moving average of $571.79 and a 200-day simple moving average of $514.34. ServiceNow, Inc. has a 1-year low of $337.00 and a 1-year high of $614.36. The stock has a market cap of $123.45 billion, a price-to-earnings ratio of 87.31, a price-to-earnings-growth ratio of 6.04 and a beta of 1.01.

ServiceNow (NYSE:NOW) last issued its quarterly earnings data on Wednesday, July 26th. The information technology services provider reported $0.77 earnings per share for the quarter, topping analysts’ consensus estimates of $0.43 by $0.34. ServiceNow had a net margin of 17.76% and a return on equity of 11.07%. The business had revenue of $2.15 billion during the quarter, compared to analysts’ expectations of $2.13 billion. Equities analysts forecast that ServiceNow, Inc. will post 3.59 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

NOW has been the subject of several research analyst reports. Morgan Stanley upped their price objective on shares of ServiceNow from $586.00 to $630.00 in a research note on Thursday, July 27th. Sanford C. Bernstein increased their target price on shares of ServiceNow from $586.00 to $665.00 in a research note on Tuesday, May 30th. Evercore ISI increased their target price on shares of ServiceNow from $550.00 to $650.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 15th. Oppenheimer increased their target price on shares of ServiceNow from $500.00 to $640.00 in a research note on Thursday, July 20th. Finally, Bank of America increased their target price on shares of ServiceNow from $600.00 to $700.00 in a research note on Wednesday, July 19th. Two equities research analysts have rated the stock with a hold rating and thirty have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $591.38.

ServiceNow Company Profile

ServiceNow, Inc provides enterprise cloud computing solutions that defines, structures, consolidates, manages, and automates services for enterprises worldwide. The company operates the Now platform for workflow automation, artificial intelligence, machine learning, robotic process automation, process mining, performance analytics, electronic service catalogs and portals, configuration management systems, data benchmarking, encryption, and collaboration and development tools.