Maytree Asset Management Ltd Takes $398,000 Position in ServiceNow, Inc. (NYSE:NOW)

Maytree Asset Management Ltd bought a new stake in ServiceNow, Inc. (NYSE:NOW - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 500 shares of the information technology services provider's stock, valued at approximately $398,000. ServiceNow comprises approximately 0.7% of Maytree Asset Management Ltd's portfolio, making the stock its 10th biggest holding.

Other institutional investors also recently modified their holdings of the company. Edgemoor Investment Advisors Inc. grew its holdings in shares of ServiceNow by 2.5% in the 1st quarter. Edgemoor Investment Advisors Inc. now owns 459 shares of the information technology services provider's stock worth $366,000 after purchasing an additional 11 shares during the last quarter. Capital Investment Advisory Services LLC grew its holdings in shares of ServiceNow by 2.1% in the 1st quarter. Capital Investment Advisory Services LLC now owns 577 shares of the information technology services provider's stock worth $459,000 after purchasing an additional 12 shares during the last quarter. Kesler Norman & Wride LLC lifted its position in ServiceNow by 1.2% during the 4th quarter. Kesler Norman & Wride LLC now owns 1,092 shares of the information technology services provider's stock worth $1,157,000 after buying an additional 13 shares in the last quarter. Sepio Capital LP lifted its position in ServiceNow by 3.8% during the 4th quarter. Sepio Capital LP now owns 359 shares of the information technology services provider's stock worth $381,000 after buying an additional 13 shares in the last quarter. Finally, Mission Creek Capital Partners Inc. lifted its position in ServiceNow by 0.5% during the 4th quarter. Mission Creek Capital Partners Inc. now owns 2,392 shares of the information technology services provider's stock worth $2,536,000 after buying an additional 13 shares in the last quarter. Institutional investors own 87.18% of the company's stock.

ServiceNow Stock Performance

NOW stock traded up $41.69 during midday trading on Thursday, reaching $998.12. 3,477,903 shares of the company were exchanged, compared to its average volume of 1,688,948. The business has a 50-day moving average price of $1,002.51 and a two-hundred day moving average price of $954.31. The firm has a market capitalization of $206.59 billion, a price-to-earnings ratio of 135.61, a price-to-earnings-growth ratio of 4.41 and a beta of 0.94. ServiceNow, Inc. has a one year low of $678.66 and a one 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.

ServiceNow (NYSE:NOW - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The information technology services provider reported $4.09 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.57 by $0.52. The company had revenue of $3.22 billion during the quarter, compared to analysts' expectations of $3.12 billion. ServiceNow had a net margin of 13.41% and a return on equity of 17.34%. ServiceNow's quarterly revenue was up 22.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $3.13 earnings per share. Equities research analysts forecast that ServiceNow, Inc. will post 8.93 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on NOW shares. Needham & Company LLC upped their price target on shares of ServiceNow from $1,050.00 to $1,200.00 and gave the stock a "buy" rating in a research report on Thursday. Canaccord Genuity Group reduced their price target on shares of ServiceNow from $1,275.00 to $900.00 and set a "buy" rating on the stock in a research report on Tuesday, April 22nd. Sanford C. Bernstein reiterated an "outperform" rating and set a $1,003.00 price target on shares of ServiceNow in a research report on Thursday, April 24th. Morgan Stanley reiterated an "equal weight" rating on shares of ServiceNow in a research report on Tuesday, July 8th. Finally, Erste Group Bank restated a "hold" rating on shares of ServiceNow in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, ServiceNow currently has an average rating of "Moderate Buy" and a consensus price target of $1,107.94.

Insider Buying and Selling

In related news, CEO William R. Mcdermott sold 2,050 shares of the company's stock in a transaction dated 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 completion of the sale, the chief executive officer owned 6,614 shares of the company's stock, valued at $6,693,434.14. This represents a 23.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Anita M. Sands sold 239 shares of the company's stock in a transaction dated Thursday, July 3rd. The stock was sold at an average price of $1,050.00, for a total transaction of $250,950.00. Following the sale, the director directly owned 10,404 shares of the company's stock, valued at $10,924,200. This represents a 2.25% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 6,601 shares of company stock valued at $6,577,363 in the last 90 days. 0.38% of the stock is currently owned by corporate insiders.

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.