Salvus Wealth Management LLC Trims Stock Position in ServiceNow, Inc. (NYSE:NOW)

Salvus Wealth Management LLC cut its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 28.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 709 shares of the information technology services provider’s stock after selling 276 shares during the quarter. Salvus Wealth Management LLC’s holdings in ServiceNow were worth $564,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in shares of ServiceNow by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 19,199,258 shares of the information technology services provider’s stock valued at $20,353,517,000 after purchasing an additional 190,430 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in ServiceNow by 6.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 7,955,924 shares of the information technology services provider’s stock worth $8,434,235,000 after purchasing an additional 509,467 shares in the last quarter. FMR LLC increased its holdings in ServiceNow by 4.9% during the 4th quarter. FMR LLC now owns 5,878,900 shares of the information technology services provider’s stock worth $6,232,339,000 after purchasing an additional 272,506 shares during the period. Geode Capital Management LLC raised its position in ServiceNow by 2.4% in the 4th quarter. Geode Capital Management LLC now owns 4,312,571 shares of the information technology services provider’s stock valued at $4,560,890,000 after purchasing an additional 100,670 shares in the last quarter. Finally, GAMMA Investing LLC boosted its stake in shares of ServiceNow by 87,501.3% in the 1st quarter. GAMMA Investing LLC now owns 2,689,361 shares of the information technology services provider’s stock valued at $2,141,108,000 after buying an additional 2,686,291 shares during the period. Hedge funds and other institutional investors own 87.18% of the company’s stock.

ServiceNow Price Performance

Shares of NYSE NOW opened at $1,012.25 on Thursday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.10 and a current ratio of 1.10. ServiceNow, Inc. has a one year low of $676.19 and a one year high of $1,198.09. The company’s fifty day moving average is $910.63 and its two-hundred day moving average is $974.82. The firm has a market capitalization of $209.52 billion, a P/E ratio of 148.21, a PEG ratio of 4.51 and a beta of 0.97.

ServiceNow (NYSE:NOW) last announced its quarterly earnings results on Wednesday, April 23rd. The information technology services provider reported $4.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.78 by $0.26. The company had revenue of $3.09 billion for the quarter, compared to the consensus estimate of $3.09 billion. ServiceNow had a net margin of 12.97% and a return on equity of 17.11%. The company’s revenue for the quarter was up 18.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.41 earnings per share. Analysts forecast that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

Insider Activity

In related news, Vice Chairman Nicholas Tzitzon sold 1,171 shares of the business’s stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $1,020.00, for a total value of $1,194,420.00. Following the completion of the sale, the insider now directly owns 3,000 shares in the company, valued at approximately $3,060,000. The trade was a 28.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO William R. Mcdermott sold 2,050 shares of the stock in a transaction that occurred on Friday, May 30th. The stock was 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 directly owns 6,614 shares in the company, valued at approximately $6,693,434.14. This represents a 23.66% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 6,716 shares of company stock valued at $6,611,245 over the last 90 days. Insiders own 0.38% of the company’s stock.

Analyst Ratings Changes

Several analysts recently weighed in on NOW shares. Oppenheimer reaffirmed an “outperform” rating and issued a $1,100.00 target price (up previously from $970.00) on shares of ServiceNow in a report on Tuesday, May 6th. Wells Fargo & Company lifted their price objective on shares of ServiceNow from $1,100.00 to $1,150.00 and gave the stock an “overweight” rating in a research report on Thursday, April 24th. Guggenheim increased their target price on ServiceNow from $716.00 to $724.00 and gave the company a “sell” rating in a report on Thursday, April 24th. The Goldman Sachs Group reiterated a “buy” rating on shares of ServiceNow in a report on Thursday, April 24th. Finally, Scotiabank set a $1,100.00 price objective on shares of ServiceNow and gave the stock an “outperform” rating in a research report on Wednesday, May 7th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, thirty have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price 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.