Capital Investment Services of America Inc. Lowers Stock Holdings in ServiceNow, Inc. $NOW

Capital Investment Services of America Inc. trimmed its position in ServiceNow, Inc. (NYSE:NOW) by 0.4% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 36,481 shares of the information technology services provider’s stock after selling 129 shares during the period. ServiceNow makes up 3.4% of Capital Investment Services of America Inc.’s portfolio, making the stock its 6th biggest holding. Capital Investment Services of America Inc.’s holdings in ServiceNow were worth $37,505,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also bought and sold shares of NOW. Brighton Jones LLC raised its holdings in ServiceNow by 1.1% in the 4th quarter. Brighton Jones LLC now owns 2,753 shares of the information technology services provider’s stock valued at $2,919,000 after acquiring an additional 30 shares in the last quarter. GAMMA Investing LLC raised its holdings in ServiceNow by 10.0% in the 1st quarter. GAMMA Investing LLC now owns 3,378 shares of the information technology services provider’s stock valued at $2,689,000 after buying an additional 308 shares during the last quarter. Oppenheimer & Co. Inc. raised its position in ServiceNow by 21.3% during the 1st quarter. Oppenheimer & Co. Inc. now owns 7,342 shares of the information technology services provider’s stock worth $5,845,000 after purchasing an additional 1,291 shares during the last quarter. Moran Wealth Management LLC increased its position in ServiceNow by 5.0% during the 1st quarter. Moran Wealth Management LLC now owns 1,176 shares of the information technology services provider’s stock valued at $936,000 after purchasing an additional 56 shares during the period. Finally, Field & Main Bank raised its stake in ServiceNow by 6.8% during the first quarter. Field & Main Bank now owns 2,049 shares of the information technology services provider’s stock worth $1,631,000 after buying an additional 131 shares during the last quarter. 87.18% of the stock is owned by institutional investors.

ServiceNow Trading Down 0.6%

NOW opened at $936.25 on Thursday. ServiceNow, Inc. has a fifty-two week low of $678.66 and a fifty-two week high of $1,198.09. The firm has a market capitalization of $194.74 billion, a PE ratio of 117.92, a P/E/G ratio of 4.24 and a beta of 0.92. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.09 and a quick ratio of 1.09. The company’s 50-day moving average is $914.81 and its 200 day moving average is $938.12.

ServiceNow (NYSE:NOW) last issued its quarterly earnings data on Wednesday, July 23rd. The information technology services provider reported $4.09 EPS for the quarter, topping the consensus estimate of $3.57 by $0.52. The firm had revenue of $3.22 billion during the quarter, compared to the consensus estimate of $3.12 billion. ServiceNow had a return on equity of 18.04% and a net margin of 13.78%.The company’s quarterly revenue was up 22.4% compared to the same quarter last year. During the same period in the prior year, the business posted $3.13 earnings per share. As a group, research analysts predict that ServiceNow, Inc. will post 8.93 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have weighed in on NOW shares. Zacks Research upgraded ServiceNow from a “hold” rating to a “strong-buy” rating in a report on Monday, October 13th. Morgan Stanley upgraded shares of ServiceNow from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $1,040.00 to $1,250.00 in a research note on Wednesday, September 24th. Guggenheim reissued a “sell” rating and set a $724.00 target price on shares of ServiceNow in a research note on Thursday, July 17th. Wall Street Zen raised shares of ServiceNow from a “hold” rating to a “buy” rating in a research note on Saturday, October 18th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of ServiceNow in a report on Wednesday, October 8th. Two equities research analysts have rated the stock with a Strong Buy rating, thirty have issued a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, ServiceNow has a consensus rating of “Moderate Buy” and an average price target of $1,121.37.

Insider Buying and Selling

In related news, insider Paul Fipps sold 1,452 shares of the firm’s stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $895.05, for a total transaction of $1,299,612.60. Following the transaction, the insider directly owned 457 shares of the company’s stock, valued at $409,037.85. This trade represents a 76.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO William R. Mcdermott sold 5,825 shares of the stock in a transaction dated Thursday, August 28th. The shares were sold at an average price of $916.63, for a total transaction of $5,339,369.75. Following the completion of the sale, the chief executive officer owned 6,614 shares of the company’s stock, valued at approximately $6,062,590.82. This trade represents a 46.83% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 18,737 shares of company stock valued at $16,798,825 over the last 90 days. 0.38% of the stock is currently owned by company insiders.

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.