Salem Investment Counselors Inc. Has $578,000 Stock Holdings in ServiceNow, Inc. (NYSE:NOW)

Salem Investment Counselors Inc. decreased its holdings in ServiceNow, Inc. (NYSE:NOWFree Report) by 9.9% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 758 shares of the information technology services provider’s stock after selling 83 shares during the quarter. Salem Investment Counselors Inc.’s holdings in ServiceNow were worth $578,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of NOW. Sandbox Financial Partners LLC boosted its position in ServiceNow by 8.6% in the fourth quarter. Sandbox Financial Partners LLC now owns 835 shares of the information technology services provider’s stock worth $590,000 after purchasing an additional 66 shares during the last quarter. Federated Hermes Inc. increased its holdings in ServiceNow by 19.8% during the fourth quarter. Federated Hermes Inc. now owns 300,122 shares of the information technology services provider’s stock worth $212,033,000 after buying an additional 49,631 shares during the last quarter. Raymond James & Associates raised its position in ServiceNow by 5.9% in the fourth quarter. Raymond James & Associates now owns 331,406 shares of the information technology services provider’s stock worth $234,135,000 after acquiring an additional 18,442 shares during the period. Smithfield Trust Co boosted its stake in ServiceNow by 36.4% in the fourth quarter. Smithfield Trust Co now owns 981 shares of the information technology services provider’s stock valued at $691,000 after acquiring an additional 262 shares during the last quarter. Finally, Dohj LLC bought a new position in shares of ServiceNow during the 4th quarter valued at approximately $913,000. Institutional investors own 87.18% of the company’s stock.

Insider Activity

In other news, insider Paul John Smith sold 190 shares of the firm’s stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $718.78, for a total transaction of $136,568.20. Following the transaction, the insider now owns 3,010 shares in the company, valued at $2,163,527.80. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other ServiceNow news, insider Paul John Smith sold 190 shares of the stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $718.78, for a total transaction of $136,568.20. Following the sale, the insider now owns 3,010 shares of the company’s stock, valued at approximately $2,163,527.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Nicholas Tzitzon sold 2,000 shares of the business’s stock in a transaction that occurred on Thursday, May 30th. The stock was 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 approximately $2,521,422.51. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 5,530 shares of company stock valued at $3,997,012. 0.25% of the stock is currently owned by company insiders.

ServiceNow Stock Performance

Shares of NOW traded up $15.02 during mid-day trading on Friday, hitting $749.33. 1,764,477 shares of the company traded hands, compared to its average volume of 1,586,168. The stock has a market cap of $153.61 billion, a price-to-earnings ratio of 80.14, a P/E/G ratio of 4.60 and a beta of 0.96. ServiceNow, Inc. has a 1 year low of $527.24 and a 1 year high of $815.32. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.05 and a current ratio of 1.05. The stock has a 50-day moving average price of $723.59 and a two-hundred day moving average price of $738.85.

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

Wall Street Analyst Weigh In

NOW has been the topic of several recent research reports. BMO Capital Markets lowered their price target on shares of ServiceNow from $850.00 to $830.00 and set an “outperform” rating on the stock in a report on Thursday, April 25th. Morgan Stanley raised their price target on ServiceNow from $814.00 to $830.00 and gave the company an “overweight” rating in a report on Thursday, April 25th. JMP Securities reissued a “market outperform” rating and set a $825.00 price objective on shares of ServiceNow in a report on Tuesday, May 7th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $820.00 target price on shares of ServiceNow in a research note on Wednesday, March 20th. Finally, Robert W. Baird boosted their price target on shares of ServiceNow from $870.00 to $885.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 7th. Three equities research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $814.48.

Read Our Latest Stock Report on ServiceNow

ServiceNow Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for ServiceNow (NYSE:NOW)

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