1858 Wealth Management LLC Purchases 275 Shares of ServiceNow, Inc. (NYSE:NOW)

1858 Wealth Management LLC boosted its position in ServiceNow, Inc. (NYSE:NOW - Free Report) by 15.0% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 2,109 shares of the information technology services provider's stock after purchasing an additional 275 shares during the period. ServiceNow comprises 1.4% of 1858 Wealth Management LLC's investment portfolio, making the stock its 23rd biggest position. 1858 Wealth Management LLC's holdings in ServiceNow were worth $1,679,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Quarry LP bought a new stake in ServiceNow in the 4th quarter worth about $27,000. Atala Financial Inc bought a new stake in ServiceNow in the 4th quarter worth about $28,000. LFA Lugano Financial Advisors SA bought a new position in shares of ServiceNow during the 4th quarter valued at approximately $32,000. Noble Wealth Management PBC bought a new position in shares of ServiceNow during the 4th quarter valued at approximately $34,000. Finally, FPC Investment Advisory Inc. grew its position in shares of ServiceNow by 725.0% during the 4th quarter. FPC Investment Advisory Inc. now owns 33 shares of the information technology services provider's stock valued at $34,000 after acquiring an additional 29 shares during the period. 87.18% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on NOW shares. Citigroup increased their target price on shares of ServiceNow from $1,128.00 to $1,160.00 and gave the company a "buy" rating in a research report on Wednesday, May 7th. FBN Securities raised shares of ServiceNow to a "strong-buy" rating in a research report on Wednesday, June 11th. Bank of America reduced their target price on shares of ServiceNow from $1,280.00 to $1,025.00 and set a "buy" rating for the company in a research report on Tuesday, April 15th. Scotiabank set a $1,100.00 target price on shares of ServiceNow and gave the company an "outperform" rating in a research report on Wednesday, May 7th. Finally, JMP Securities reissued a "market outperform" rating and set a $1,300.00 target price on shares of ServiceNow in a research report on Tuesday, May 6th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-nine have issued a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, ServiceNow currently has a consensus rating of "Moderate Buy" and a consensus target price of $1,062.50.

Insider Activity

In other news, General Counsel Russell S. Elmer sold 62 shares of the firm's stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $1,023.00, for a total transaction of $63,426.00. Following the sale, the general counsel now owns 4,332 shares in the company, valued at approximately $4,431,636. This trade represents a 1.41% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO William R. Mcdermott sold 2,050 shares of the firm'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 sale, the chief executive officer now owns 6,614 shares in the company, valued at approximately $6,693,434.14. This trade represents a 23.66% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 6,716 shares of company stock worth $6,611,245. 0.38% of the stock is currently owned by corporate insiders.

ServiceNow Stock Performance

NYSE NOW opened at $969.78 on Friday. ServiceNow, Inc. has a 1 year low of $678.66 and a 1 year high of $1,198.09. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.12 and a quick ratio of 1.12. The stock has a market capitalization of $200.72 billion, a PE ratio of 131.76, a P/E/G ratio of 4.48 and a beta of 0.95. The company's 50 day simple moving average is $964.42 and its two-hundred day simple moving average is $970.33.

ServiceNow (NYSE:NOW - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The information technology services provider reported $4.04 earnings per share for the quarter, beating the consensus estimate of $3.78 by $0.26. The firm had revenue of $3.09 billion for the quarter, compared to analysts' expectations of $3.09 billion. ServiceNow had a net margin of 13.41% and a return on equity of 17.34%. The business's quarterly revenue was up 18.6% on a year-over-year basis. During the same quarter last year, the company posted $3.41 EPS. Analysts predict that ServiceNow, Inc. will post 8.93 earnings per share for the current fiscal year.

About ServiceNow

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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