ServiceNow, Inc. (NYSE:NOW) Shares Sold by Golden State Wealth Management LLC

Golden State Wealth Management LLC cut its holdings in ServiceNow, Inc. (NYSE:NOW) by 20.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 468 shares of the information technology services provider’s stock after selling 118 shares during the period. Golden State Wealth Management LLC’s holdings in ServiceNow were worth $373,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Patron Partners LLC raised its holdings in ServiceNow by 6.8% during the first quarter. Patron Partners LLC now owns 818 shares of the information technology services provider’s stock worth $651,000 after purchasing an additional 52 shares in the last quarter. Westwind Capital grew its position in shares of ServiceNow by 3.6% in the 1st quarter. Westwind Capital now owns 23,958 shares of the information technology services provider’s stock valued at $19,074,000 after buying an additional 827 shares during the last quarter. Confluence Wealth Services Inc. raised its stake in ServiceNow by 114.1% during the 1st quarter. Confluence Wealth Services Inc. now owns 773 shares of the information technology services provider’s stock worth $628,000 after acquiring an additional 412 shares in the last quarter. Sunbelt Securities Inc. raised its stake in ServiceNow by 5.7% during the 1st quarter. Sunbelt Securities Inc. now owns 2,897 shares of the information technology services provider’s stock worth $2,306,000 after acquiring an additional 155 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its position in ServiceNow by 0.7% in the first quarter. Allspring Global Investments Holdings LLC now owns 288,912 shares of the information technology services provider’s stock valued at $234,469,000 after acquiring an additional 2,015 shares during the last quarter. 87.18% of the stock is currently owned by institutional investors and hedge funds.

ServiceNow Price Performance

NOW stock opened at $1,046.03 on Friday. The firm has a 50 day moving average of $1,003.94 and a 200-day moving average of $962.97. The company has a market cap of $216.51 billion, a price-to-earnings ratio of 142.12, a PEG ratio of 4.80 and a beta of 0.94. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.15. ServiceNow, Inc. has a 12-month low of $678.66 and a 12-month high of $1,198.09.

ServiceNow (NYSE:NOW) last released its quarterly earnings data on Wednesday, April 23rd. The information technology services provider reported $4.04 earnings per share for the quarter, beating the consensus estimate of $3.78 by $0.26. The firm had revenue of $3.09 billion during the quarter, compared to the consensus estimate of $3.09 billion. ServiceNow had a return on equity of 17.34% and a net margin of 13.41%. ServiceNow’s quarterly revenue was up 18.6% on a year-over-year basis. During the same period last year, the business posted $3.41 EPS. As a group, equities analysts expect that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

NOW has been the topic of several research reports. FBN Securities raised ServiceNow to a “strong-buy” rating in a report on Wednesday, June 11th. UBS Group reissued a “buy” rating and issued a $1,025.00 target price (up from $900.00) on shares of ServiceNow in a research report on Thursday, April 24th. JPMorgan Chase & Co. dropped their price target on ServiceNow from $1,200.00 to $970.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 22nd. Needham & Company LLC reiterated a “buy” rating and issued a $1,050.00 price objective on shares of ServiceNow in a research note on Tuesday, May 6th. Finally, Truist Financial raised ServiceNow from a “hold” rating to a “buy” rating and increased their price objective for the company from $950.00 to $1,200.00 in a report on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, thirty have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $1,068.23.

Insiders Place Their Bets

In related news, Director Anita M. Sands sold 428 shares of the business’s stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $1,013.61, for a total value of $433,825.08. Following the sale, the director directly owned 10,891 shares in the company, valued at $11,039,226.51. The trade was a 3.78% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Deborah Black sold 598 shares of the company’s stock in a transaction dated Friday, April 25th. The shares were sold at an average price of $940.23, for a total transaction of $562,257.54. Following the completion of the sale, the director directly owned 428 shares in the company, valued at $402,418.44. This trade represents a 58.28% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 6,716 shares of company stock valued at $6,611,245. Company insiders own 0.38% 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.