Park Edge Advisors LLC Sells 41 Shares of ServiceNow, Inc. (NYSE:NOW)

Park Edge Advisors LLC cut its position in ServiceNow, Inc. (NYSE:NOW) by 4.9% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 789 shares of the information technology services provider’s stock after selling 41 shares during the quarter. Park Edge Advisors LLC’s holdings in ServiceNow were worth $602,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. University of Texas Texas AM Investment Managment Co. acquired a new position in shares of ServiceNow during the fourth quarter valued at about $29,000. AdvisorNet Financial Inc increased its holdings in shares of ServiceNow by 266.7% during 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 acquired a new position in shares of ServiceNow during the fourth quarter valued at about $35,000. Disciplined Equity Management Inc. acquired a new position in shares of ServiceNow during the fourth quarter valued at about $35,000. Finally, Fortitude Family Office LLC acquired a new position in shares of ServiceNow during the fourth quarter valued at about $41,000. Institutional investors and hedge funds own 87.18% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Needham & Company LLC reiterated a “buy” rating and issued a $900.00 target price on shares of ServiceNow in a research report on Tuesday, June 18th. UBS Group dropped their target price on ServiceNow from $920.00 to $875.00 and set a “buy” rating on the stock in a research report on Thursday, April 25th. Wells Fargo & Company upped their target price on ServiceNow from $875.00 to $900.00 and gave the company an “overweight” rating in a research report on Tuesday, April 16th. Guggenheim reiterated a “neutral” rating on shares of ServiceNow in a research report on Monday, April 15th. Finally, Robert W. Baird upped their target price on ServiceNow from $870.00 to $885.00 and gave the company an “outperform” rating in a research report on Tuesday, May 7th. Three equities research analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the stock. According to MarketBeat, ServiceNow has an average rating of “Moderate Buy” and an average target price of $813.28.

ServiceNow Price Performance

NYSE NOW traded down $8.19 during mid-day trading on Thursday, hitting $785.92. The stock had a trading volume of 577,464 shares, compared to its average volume of 1,202,180. The firm’s 50 day moving average is $729.74 and its 200 day moving average is $742.98. ServiceNow, Inc. has a twelve month low of $527.24 and a twelve month 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. The stock has a market capitalization of $161.11 billion, a price-to-earnings ratio of 84.06, a PEG ratio of 4.98 and a beta of 0.99.

ServiceNow (NYSE:NOW) last posted its quarterly earnings data on Wednesday, April 24th. The information technology services provider reported $1.82 EPS for the quarter, beating the consensus estimate of $1.41 by $0.41. ServiceNow had a return on equity of 13.59% and a net margin of 20.34%. The firm had revenue of $2.60 billion during the quarter, compared to the consensus estimate of $2.59 billion. Equities research analysts forecast that ServiceNow, Inc. will post 6.5 earnings per share for the current fiscal year.

Insider Activity at ServiceNow

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

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.