ServiceNow, Inc. (NYSE:NOW) Shares Sold by Harbor Capital Advisors Inc.

Harbor Capital Advisors Inc. reduced its position in shares of ServiceNow, Inc. (NYSE:NOW) by 4.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,562 shares of the information technology services provider’s stock after selling 210 shares during the period. Harbor Capital Advisors Inc.’s holdings in ServiceNow were worth $3,632,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Brighton Jones LLC boosted its stake in ServiceNow by 1.1% during the fourth quarter. Brighton Jones LLC now owns 2,753 shares of the information technology services provider’s stock worth $2,919,000 after buying an additional 30 shares during the period. Union Bancaire Privee UBP SA purchased a new position in ServiceNow during the fourth quarter worth about $48,802,000. Kestra Private Wealth Services LLC boosted its stake in ServiceNow by 30.1% during the fourth quarter. Kestra Private Wealth Services LLC now owns 4,927 shares of the information technology services provider’s stock worth $5,223,000 after buying an additional 1,141 shares during the period. Savant Capital LLC boosted its stake in ServiceNow by 9.3% during the fourth quarter. Savant Capital LLC now owns 2,924 shares of the information technology services provider’s stock worth $3,100,000 after buying an additional 248 shares during the period. Finally, Soltis Investment Advisors LLC boosted its stake in ServiceNow by 8.3% during the fourth quarter. Soltis Investment Advisors LLC now owns 615 shares of the information technology services provider’s stock worth $652,000 after buying an additional 47 shares during the period. 87.18% of the stock is currently owned by institutional investors and hedge funds.

ServiceNow Stock Down 1.6%

Shares of NYSE:NOW opened at $1,009.94 on Wednesday. The stock has a market cap of $209.04 billion, a P/E ratio of 147.87, a P/E/G ratio of 4.51 and a beta of 0.95. The firm has a fifty day moving average price of $928.22 and a 200 day moving average price of $974.13. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.10 and a quick ratio of 1.10. ServiceNow, Inc. has a 1-year low of $678.66 and a 1-year high of $1,198.09.

ServiceNow (NYSE:NOW) last issued its quarterly earnings results on Wednesday, April 23rd. The information technology services provider reported $4.04 earnings per share for the quarter, topping analysts’ consensus estimates of $3.78 by $0.26. The firm had revenue of $3.09 billion during the quarter, compared to analysts’ expectations of $3.09 billion. ServiceNow had a net margin of 12.97% and a return on equity of 17.11%. ServiceNow’s quarterly revenue was up 18.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.41 EPS. Sell-side analysts predict that ServiceNow, Inc. will post 8.93 EPS for the current year.

Insiders Place Their Bets

In other ServiceNow news, CEO William R. Mcdermott sold 2,050 shares of the company’s stock in a transaction on Friday, May 30th. The shares were sold at an average price of $1,012.01, for a total transaction of $2,074,620.50. Following the completion of the transaction, the chief executive officer now owns 6,614 shares in the company, valued at approximately $6,693,434.14. This represents a 23.66% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jacqueline P. Canney sold 66 shares of the company’s stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $1,023.00, for a total transaction of $67,518.00. Following the transaction, the insider now owns 3,027 shares of the company’s stock, valued at approximately $3,096,621. The trade was a 2.13% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 6,716 shares of company stock worth $6,611,245. 0.38% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several brokerages have weighed in on NOW. Wells Fargo & Company increased their target price on shares of ServiceNow from $1,100.00 to $1,150.00 and gave the stock an “overweight” rating in a research note on Thursday, April 24th. Oppenheimer reaffirmed an “outperform” rating and set a $1,100.00 target price (up previously from $970.00) on shares of ServiceNow in a research note on Tuesday, May 6th. Scotiabank set a $1,100.00 price objective on shares of ServiceNow and gave the company an “outperform” rating in a research note on Wednesday, May 7th. JPMorgan Chase & Co. lowered their price objective on shares of ServiceNow from $1,200.00 to $970.00 and set an “overweight” rating for the company in a research note on Tuesday, April 22nd. Finally, JMP Securities reissued a “market outperform” rating and issued a $1,300.00 price objective on shares of ServiceNow in a research note on Tuesday, May 6th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,062.50.

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.