Bell Bank Sells 290 Shares of ServiceNow, Inc. (NYSE:NOW)

Bell Bank lowered its holdings in ServiceNow, Inc. (NYSE:NOW) by 19.1% 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 1,226 shares of the information technology services provider’s stock after selling 290 shares during the period. Bell Bank’s holdings in ServiceNow were worth $976,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Quarry LP bought a new position in shares of ServiceNow in the 4th quarter valued at about $27,000. Atala Financial Inc bought a new position in shares of ServiceNow in the 4th quarter valued at about $28,000. LFA Lugano Financial Advisors SA bought a new position in shares of ServiceNow in the 4th quarter valued at about $32,000. Noble Wealth Management PBC acquired a new stake in shares of ServiceNow during the 4th quarter worth about $34,000. Finally, FPC Investment Advisory Inc. lifted its stake in shares of ServiceNow by 725.0% during the 4th quarter. FPC Investment Advisory Inc. now owns 33 shares of the information technology services provider’s stock worth $34,000 after buying an additional 29 shares during the last quarter. Institutional investors own 87.18% of the company’s stock.

ServiceNow Stock Up 1.7%

ServiceNow stock opened at $1,005.27 on Tuesday. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.15. The company has a market capitalization of $208.07 billion, a PE ratio of 147.19, a PEG ratio of 4.51 and a beta of 0.95. The firm’s fifty day moving average is $950.17 and its 200 day moving average is $972.18. ServiceNow, Inc. has a 12-month low of $678.66 and a 12-month high of $1,198.09.

ServiceNow (NYSE:NOW) last posted its quarterly earnings results on Wednesday, April 23rd. The information technology services provider reported $4.04 EPS for the quarter, topping analysts’ consensus estimates of $3.78 by $0.26. The business had revenue of $3.09 billion during the quarter, compared to analysts’ expectations of $3.09 billion. ServiceNow had a net margin of 12.97% and a return on equity of 17.11%. The business’s quarterly revenue was up 18.6% on a year-over-year basis. During the same period last year, the company posted $3.41 earnings per share. As a group, sell-side analysts predict that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

Insiders Place Their Bets

In other ServiceNow news, CEO William R. Mcdermott sold 2,050 shares of the company’s stock in a transaction on Friday, May 30th. The shares were sold at an average price of $1,012.01, for a total transaction of $2,074,620.50. Following the transaction, the chief executive officer now owns 6,614 shares in the company, valued at approximately $6,693,434.14. This represents a 23.66% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Jacqueline P. Canney sold 66 shares of the company’s stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $1,023.00, for a total transaction of $67,518.00. Following the transaction, the insider now owns 3,027 shares in the company, valued at approximately $3,096,621. The trade was a 2.13% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 6,716 shares of company stock worth $6,611,245. 0.38% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Barclays set a $1,085.00 target price on shares of ServiceNow in a research note on Wednesday, May 7th. Jefferies Financial Group cut their target price on shares of ServiceNow from $1,250.00 to $1,025.00 and set a “buy” rating for the company in a research note on Tuesday, April 15th. Piper Sandler cut their target price on shares of ServiceNow from $1,200.00 to $1,120.00 and set an “overweight” rating for the company in a research note on Thursday, April 24th. Evercore ISI raised their target price on shares of ServiceNow from $925.00 to $1,000.00 and gave the stock an “outperform” rating in a research note on Thursday, April 24th. Finally, Scotiabank set a $1,100.00 target price on shares of ServiceNow and gave the stock an “outperform” rating in a research note on Wednesday, May 7th. One research analyst has rated the stock with a sell rating, three have given a hold rating, twenty-nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, ServiceNow presently has an average rating of “Moderate Buy” and an average price target of $1,062.50.

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.