ServiceNow, Inc. (NYSE:NOW) Shares Sold by Procyon Advisors LLC

Procyon Advisors LLC decreased its stake in ServiceNow, Inc. (NYSE:NOW) by 23.7% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 1,193 shares of the information technology services provider’s stock after selling 371 shares during the period. Procyon Advisors LLC’s holdings in ServiceNow were worth $910,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of NOW. Argonautica Private Wealth Management Inc. grew its stake in shares of ServiceNow by 1.0% during the 4th quarter. Argonautica Private Wealth Management Inc. now owns 1,376 shares of the information technology services provider’s stock worth $972,000 after purchasing an additional 13 shares during the period. Wealth Management Partners LLC raised its holdings in ServiceNow by 2.7% in the fourth quarter. Wealth Management Partners LLC now owns 531 shares of the information technology services provider’s stock valued at $375,000 after buying an additional 14 shares during the period. Oliver Lagore Vanvalin Investment Group raised its holdings in ServiceNow by 30.4% in the fourth quarter. Oliver Lagore Vanvalin Investment Group now owns 60 shares of the information technology services provider’s stock valued at $42,000 after buying an additional 14 shares during the period. Trust Co. of Vermont raised its stake in shares of ServiceNow by 8.6% during the third quarter. Trust Co. of Vermont now owns 190 shares of the information technology services provider’s stock valued at $106,000 after purchasing an additional 15 shares during the period. Finally, Claro Advisors LLC raised its stake in shares of ServiceNow by 3.6% during the fourth quarter. Claro Advisors LLC now owns 428 shares of the information technology services provider’s stock valued at $302,000 after purchasing an additional 15 shares during the period. Hedge funds and other institutional investors own 87.18% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on NOW shares. Robert W. Baird raised their price target on shares of ServiceNow from $870.00 to $885.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 7th. KeyCorp decreased their price objective on shares of ServiceNow from $1,000.00 to $950.00 and set an “overweight” rating for the company in a report on Thursday, April 25th. StockNews.com downgraded shares of ServiceNow from a “buy” rating to a “hold” rating in a report on Friday, April 26th. BMO Capital Markets decreased their price objective 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. Finally, Jefferies Financial Group raised their target price on ServiceNow from $885.00 to $900.00 and gave the company a “buy” rating in a research note on Wednesday, April 10th. Three investment analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the stock. Based on data from MarketBeat.com, ServiceNow currently has a consensus rating of “Moderate Buy” and an average target price of $814.48.

Insider Activity

In related news, insider Christopher Bedi sold 215 shares of the company’s stock in a transaction dated Wednesday, June 5th. The stock was sold at an average price of $700.00, for a total transaction of $150,500.00. Following the sale, the insider now owns 15,892 shares in the company, valued at approximately $11,124,400. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other ServiceNow news, insider Paul John Smith sold 125 shares of the firm’s stock in a transaction on Monday, May 13th. The stock was sold at an average price of $727.38, for a total value of $90,922.50. Following the completion of the sale, the insider now directly owns 3,112 shares of the company’s stock, valued at $2,263,606.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Christopher Bedi sold 215 shares of the firm’s stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $700.00, for a total value of $150,500.00. Following the completion of the sale, the insider now directly owns 15,892 shares of the company’s stock, valued at $11,124,400. The disclosure for this sale can be found here. Over the last quarter, insiders sold 5,530 shares of company stock valued at $3,997,012. Company insiders own 0.25% of the company’s stock.

ServiceNow Stock Performance

NOW traded up $20.22 during trading on Thursday, hitting $774.13. The stock had a trading volume of 1,180,546 shares, compared to its average volume of 1,281,515. The company has a 50 day moving average price of $724.24 and a 200-day moving average price of $740.08. The firm has a market cap of $158.70 billion, a price-to-earnings ratio of 82.41, a P/E/G ratio of 4.73 and a beta of 0.96. ServiceNow, Inc. has a one year low of $527.24 and a one year high of $815.32. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.05 and a quick ratio of 1.05.

ServiceNow (NYSE:NOW) last posted its quarterly earnings results on Wednesday, April 24th. The information technology services provider reported $1.82 EPS for the quarter, topping analysts’ consensus estimates of $1.41 by $0.41. ServiceNow had a return on equity of 13.59% and a net margin of 20.34%. The company had revenue of $2.60 billion during the quarter, compared to analysts’ expectations of $2.59 billion. As a group, research analysts predict that ServiceNow, Inc. will post 6.5 EPS for the current year.

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.