ServiceNow, Inc. (NYSE:NOW) Shares Sold by CHURCHILL MANAGEMENT Corp

CHURCHILL MANAGEMENT Corp decreased its holdings in ServiceNow, Inc. (NYSE:NOW) by 14.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 6,370 shares of the information technology services provider’s stock after selling 1,080 shares during the period. CHURCHILL MANAGEMENT Corp’s holdings in ServiceNow were worth $4,856,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. University of Texas Texas AM Investment Managment Co. purchased a new position in ServiceNow in the 4th quarter valued at approximately $29,000. AdvisorNet Financial Inc boosted its holdings in shares of ServiceNow by 266.7% in the fourth quarter. AdvisorNet Financial Inc now owns 44 shares of the information technology services provider’s stock valued at $31,000 after acquiring an additional 32 shares in the last quarter. Sachetta LLC purchased a new stake in ServiceNow during the fourth quarter worth about $35,000. Disciplined Equity Management Inc. purchased a new stake in ServiceNow during the fourth quarter worth about $35,000. Finally, Fortitude Family Office LLC purchased a new stake in shares of ServiceNow in the fourth quarter valued at about $41,000. Institutional investors and hedge funds own 87.18% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on NOW. Jefferies Financial Group boosted their price objective on shares of ServiceNow from $885.00 to $900.00 and gave the company a “buy” rating in a research report on Wednesday, April 10th. StockNews.com downgraded shares of ServiceNow from a “buy” rating to a “hold” rating in a research note on Friday, April 26th. Needham & Company LLC reissued a “buy” rating and set a $900.00 target price on shares of ServiceNow in a report on Tuesday, June 18th. UBS Group dropped their price objective on shares of ServiceNow from $920.00 to $875.00 and set a “buy” rating on the stock in a report on Thursday, April 25th. Finally, Citigroup increased their price objective on shares of ServiceNow from $896.00 to $906.00 and gave the stock a “buy” rating in a report on Thursday, April 18th. Three analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $814.48.

Insider Transactions at ServiceNow

In other news, insider Paul John Smith sold 125 shares of the business’s stock in a transaction on Monday, May 13th. The shares were 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 in the company, valued at $2,263,606.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, insider Paul John Smith sold 125 shares of the company’s stock in a transaction on Monday, May 13th. The shares were sold at an average price of $727.38, for a total transaction of $90,922.50. Following the completion of the transaction, the insider now directly owns 3,112 shares in the company, valued at approximately $2,263,606.56. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Nicholas Tzitzon sold 2,000 shares of the company’s stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $690.99, for a total transaction of $1,381,980.00. Following the transaction, the insider now owns 3,649 shares of the company’s stock, valued at $2,521,422.51. The disclosure for this sale can be found here. Over the last three months, insiders sold 5,530 shares of company stock worth $3,997,012. 0.25% of the stock is owned by insiders.

ServiceNow Price Performance

NYSE NOW opened at $749.33 on Friday. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.18. The stock has a market capitalization of $153.61 billion, a PE ratio of 80.14, a price-to-earnings-growth ratio of 4.60 and a beta of 0.96. The company has a 50 day moving average price of $723.59 and a two-hundred day moving average price of $738.85. ServiceNow, Inc. has a 12-month low of $527.24 and a 12-month high of $815.32.

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

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.