InTrack Investment Management Inc Sells 1,332 Shares of ServiceNow, Inc. (NYSE:NOW)

InTrack Investment Management Inc reduced its stake in ServiceNow, Inc. (NYSE:NOW - Free Report) by 80.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 322 shares of the information technology services provider's stock after selling 1,332 shares during the period. InTrack Investment Management Inc's holdings in ServiceNow were worth $332,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Redhawk Wealth Advisors Inc. lifted its stake in shares of ServiceNow by 2.2% in the fourth quarter. Redhawk Wealth Advisors Inc. now owns 459 shares of the information technology services provider's stock valued at $487,000 after buying an additional 10 shares in the last quarter. Catalyst Financial Partners LLC raised its position in ServiceNow by 1.0% in the 3rd quarter. Catalyst Financial Partners LLC now owns 1,146 shares of the information technology services provider's stock valued at $1,025,000 after buying an additional 11 shares during the last quarter. First Affirmative Financial Network lifted its stake in ServiceNow by 1.4% during the 3rd quarter. First Affirmative Financial Network now owns 895 shares of the information technology services provider's stock valued at $801,000 after acquiring an additional 12 shares in the last quarter. Capital Advisors Ltd. LLC boosted its holdings in ServiceNow by 14.6% during the 3rd quarter. Capital Advisors Ltd. LLC now owns 94 shares of the information technology services provider's stock worth $84,000 after acquiring an additional 12 shares during the last quarter. Finally, BluePointe Capital Management LLC grew its stake in shares of ServiceNow by 0.6% in the 3rd quarter. BluePointe Capital Management LLC now owns 2,014 shares of the information technology services provider's stock worth $1,801,000 after acquiring an additional 12 shares in the last quarter. Institutional investors and hedge funds own 87.18% of the company's stock.

Wall Street Analysts Forecast Growth

NOW has been the subject of several analyst reports. The Goldman Sachs Group increased their price objective on shares of ServiceNow from $1,050.00 to $1,200.00 and gave the company a "buy" rating in a research note on Friday, January 10th. Piper Sandler boosted their price target on shares of ServiceNow from $1,000.00 to $1,200.00 and gave the stock an "overweight" rating in a report on Monday, January 6th. Stifel Nicolaus raised their price objective on shares of ServiceNow from $900.00 to $990.00 and gave the stock a "buy" rating in a report on Thursday, October 24th. Royal Bank of Canada boosted their target price on shares of ServiceNow from $1,045.00 to $1,210.00 and gave the company an "outperform" rating in a research note on Friday, January 3rd. Finally, Needham & Company LLC lifted their price target on shares of ServiceNow from $1,075.00 to $1,150.00 and gave the stock a "buy" rating in a report on Monday, November 25th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-five have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $1,080.38.

Insider Buying and Selling

In other news, insider Kevin Thomas Mcbride sold 100 shares of the business's stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $1,023.97, for a total value of $102,397.00. Following the completion of the sale, the insider now owns 3,457 shares of the company's stock, valued at approximately $3,539,864.29. The trade was a 2.81 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Jacqueline P. Canney sold 455 shares of the firm's stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $1,058.54, for a total value of $481,635.70. Following the transaction, the insider now owns 3,027 shares in the company, valued at approximately $3,204,200.58. The trade was a 13.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 20,731 shares of company stock worth $21,016,751 in the last quarter. 0.25% of the stock is owned by insiders.

ServiceNow Price Performance

ServiceNow stock traded up $14.86 during mid-day trading on Friday, hitting $1,072.02. 1,079,535 shares of the company traded hands, compared to its average volume of 944,889. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.13 and a current ratio of 1.13. ServiceNow, Inc. has a one year low of $637.99 and a one year high of $1,157.90. The stock has a market cap of $220.84 billion, a price-to-earnings ratio of 166.72, a price-to-earnings-growth ratio of 4.65 and a beta of 0.99. The stock has a fifty day moving average price of $1,069.67 and a 200-day moving average price of $932.23.

ServiceNow (NYSE:NOW - Get Free Report) last released its earnings results on Wednesday, October 23rd. The information technology services provider reported $3.72 EPS for the quarter, beating analysts' consensus estimates of $3.46 by $0.26. ServiceNow had a return on equity of 16.03% and a net margin of 12.77%. The business had revenue of $2.80 billion for the quarter, compared to analysts' expectations of $2.75 billion. During the same quarter in the prior year, the firm earned $1.21 earnings per share. The firm's revenue was up 22.2% on a year-over-year basis. On average, equities analysts predict that ServiceNow, Inc. will post 7.07 earnings per share for the current fiscal year.

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.