Capital Investment Services of America Inc. Has $29.15 Million Holdings in ServiceNow, Inc. (NYSE:NOW)

Capital Investment Services of America Inc. cut its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 2.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 36,610 shares of the information technology services provider’s stock after selling 793 shares during the period. ServiceNow makes up 3.0% of Capital Investment Services of America Inc.’s holdings, making the stock its 10th biggest holding. Capital Investment Services of America Inc.’s holdings in ServiceNow were worth $29,147,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Vanguard Group Inc. boosted its holdings in ServiceNow by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 19,199,258 shares of the information technology services provider’s stock worth $20,353,517,000 after purchasing an additional 190,430 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in ServiceNow by 6.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 7,955,924 shares of the information technology services provider’s stock valued at $8,434,235,000 after acquiring an additional 509,467 shares during the last quarter. FMR LLC boosted its stake in ServiceNow by 4.9% in the fourth quarter. FMR LLC now owns 5,878,900 shares of the information technology services provider’s stock valued at $6,232,339,000 after acquiring an additional 272,506 shares during the last quarter. Geode Capital Management LLC boosted its stake in ServiceNow by 2.4% in the fourth 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 acquiring an additional 100,670 shares during the last quarter. Finally, GAMMA Investing LLC boosted its stake in ServiceNow by 87,501.3% in the first 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 acquiring an additional 2,686,291 shares during the last quarter. 87.18% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on NOW shares. Raymond James lowered their price target on shares of ServiceNow from $1,200.00 to $1,000.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 8th. Scotiabank set a $1,100.00 price target on shares of ServiceNow and gave the company an “outperform” rating in a research report on Wednesday, May 7th. Morgan Stanley boosted their price target on shares of ServiceNow from $881.00 to $950.00 and gave the company an “equal weight” rating in a research report on Thursday, April 24th. BMO Capital Markets boosted their price target on shares of ServiceNow from $1,025.00 to $1,150.00 and gave the company an “outperform” rating in a research report on Wednesday, May 14th. Finally, Wells Fargo & Company boosted their price target on shares of ServiceNow from $1,100.00 to $1,150.00 and gave the company an “overweight” rating in a research report on Thursday, April 24th. One analyst has rated the stock with a sell rating, three have given 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, ServiceNow presently has an average rating of “Moderate Buy” and an average price target of $1,062.50.

ServiceNow Trading Down 2.0%

NYSE:NOW opened at $987.71 on Friday. The company has a 50-day moving average price of $944.56 and a 200-day moving average price of $973.45. ServiceNow, Inc. has a 12 month low of $678.66 and a 12 month high of $1,198.09. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.15. The stock has a market cap of $204.44 billion, a price-to-earnings ratio of 144.61, a P/E/G ratio of 4.51 and a beta of 0.95.

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

Insider Transactions at ServiceNow

In other ServiceNow news, insider Jacqueline P. Canney sold 354 shares of the firm’s stock in a transaction dated Wednesday, April 16th. The shares were sold at an average price of $804.61, for a total transaction of $284,831.94. Following the completion of the sale, the insider now directly owns 3,027 shares in the company, valued at approximately $2,435,554.47. This trade represents a 10.47% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Anita M. Sands sold 248 shares of the firm’s stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $1,009.14, for a total transaction of $250,266.72. Following the sale, the director now owns 10,643 shares of the company’s stock, valued at approximately $10,740,277.02. This represents a 2.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 6,716 shares of company stock valued at $6,611,245. Company insiders own 0.38% of the company’s stock.

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.