1,018 Shares in ServiceNow, Inc. $NOW Bought by Integrity Alliance LLC.

Key Points

• Integrity Alliance LLC acquired 1,018 shares of ServiceNow, Inc. for approximately $810,000 during the 1st quarter, highlighting new institutional interest in the company.
• Brokerage firms such as Piper Sandler and Citigroup have recently raised their price targets for ServiceNow, indicating positive outlooks for the stock.
• Insider trading activity has been significant, with Paul Fipps and director Anita M. Sands selling large amounts of stock, which may raise concerns about insider sentiment.

Integrity Alliance LLC. acquired a new position in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 1,018 shares of the information technology services provider's stock, valued at approximately $810,000.

Several other large investors have also recently added to or reduced their stakes in NOW. Bogart Wealth LLC lifted its stake in ServiceNow by 113.3% during the first quarter. Bogart Wealth LLC now owns 32 shares of the information technology services provider's stock worth $25,000 after purchasing an additional 17 shares during the last quarter. Graybill Wealth Management LTD. bought a new position in ServiceNow during the first quarter worth $26,000. WASHINGTON TRUST Co lifted its stake in ServiceNow by 620.0% during the first quarter. WASHINGTON TRUST Co now owns 36 shares of the information technology services provider's stock worth $29,000 after purchasing an additional 31 shares during the last quarter. Dagco Inc. bought a new position in ServiceNow during the first quarter worth $33,000. Finally, Heck Capital Advisors LLC bought a new position in ServiceNow during the fourth quarter worth $37,000. 87.18% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on NOW. Piper Sandler raised their price objective on ServiceNow from $1,120.00 to $1,150.00 and gave the stock an "overweight" rating in a research note on Thursday, July 24th. Citigroup raised their target price on ServiceNow from $1,160.00 to $1,234.00 and gave the company a "buy" rating in a research note on Thursday, July 24th. Raymond James Financial raised their target price on ServiceNow from $1,000.00 to $1,100.00 and gave the company an "outperform" rating in a research note on Thursday, July 24th. Wall Street Zen cut ServiceNow from a "buy" rating to a "hold" rating in a research note on Saturday, August 30th. Finally, Cantor Fitzgerald reiterated an "overweight" rating and issued a $1,200.00 target price on shares of ServiceNow in a research note on Thursday, July 24th. One analyst has rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $1,115.20.

Insider Buying and Selling at ServiceNow

In related news, insider Paul Fipps sold 1,452 shares of ServiceNow stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $895.05, for a total transaction of $1,299,612.60. Following the transaction, the insider directly owned 457 shares of the company's stock, valued at $409,037.85. The trade was a 76.06% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Anita M. Sands sold 1,097 shares of ServiceNow stock in a transaction dated Friday, August 29th. The stock was sold at an average price of $915.11, for a total value of $1,003,875.67. Following the transaction, the director directly owned 9,307 shares in the company, valued at approximately $8,516,928.77. The trade was a 10.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 18,976 shares of company stock valued at $17,049,775. 0.38% of the stock is currently owned by insiders.

ServiceNow Price Performance

Shares of NYSE NOW opened at $940.23 on Friday. ServiceNow, Inc. has a fifty-two week low of $678.66 and a fifty-two week high of $1,198.09. The firm's 50-day simple moving average is $929.66 and its 200 day simple moving average is $922.41. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.14. The stock has a market cap of $195.57 billion, a P/E ratio of 118.42, a P/E/G ratio of 4.17 and a beta of 0.91.

ServiceNow (NYSE:NOW - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The information technology services provider reported $4.09 earnings per share for the quarter, beating analysts' consensus estimates of $3.57 by $0.52. ServiceNow had a net margin of 13.78% and a return on equity of 18.04%. The business had revenue of $3.22 billion for the quarter, compared to analysts' expectations of $3.12 billion. During the same period in the previous year, the business earned $3.13 earnings per share. The company's revenue was up 22.4% on a year-over-year basis. Equities analysts expect that ServiceNow, Inc. will post 8.93 EPS for the current 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.

Want to see what other hedge funds are holding NOW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ServiceNow, Inc. (NYSE:NOW - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.