Advyzon Investment Management LLC Takes $474,000 Position in ServiceNow, Inc. (NYSE:NOW)

Key Points

• Advyzon Investment Management LLC acquired 595 shares of ServiceNow, Inc., valued at approximately $474,000, in the first quarter.
• ServiceNow's stock reached a 1-year low of $678.66 and a 1-year high of $1,198.09, with a current market capitalization of $191.78 billion.
• The company reported a quarterly earnings per share (EPS) of $4.09, exceeding estimates, along with a revenue of $3.22 billion, marking a 22.4% increase over the previous year.

Advyzon Investment Management LLC purchased a new stake in ServiceNow, Inc. (NYSE:NOW - Free Report) during the first quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 595 shares of the information technology services provider's stock, valued at approximately $474,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Janus Henderson Group PLC grew its holdings in shares of ServiceNow by 1.5% during the fourth quarter. Janus Henderson Group PLC now owns 824,725 shares of the information technology services provider's stock worth $874,258,000 after purchasing an additional 12,533 shares during the last quarter. Parr Mcknight Wealth Management Group LLC purchased a new stake in ServiceNow in the 1st quarter valued at $1,820,000. Nicholas Investment Partners LP boosted its stake in ServiceNow by 223.5% during the 4th quarter. Nicholas Investment Partners LP now owns 2,805 shares of the information technology services provider's stock worth $2,974,000 after purchasing an additional 1,938 shares during the period. Eastern Bank grew its holdings in shares of ServiceNow by 0.9% during the first quarter. Eastern Bank now owns 54,771 shares of the information technology services provider's stock worth $43,605,000 after buying an additional 511 shares during the last quarter. Finally, ING Groep NV raised its stake in ServiceNow by 448.0% during the 1st quarter. ING Groep NV now owns 253,804 shares of the information technology services provider's stock valued at $202,064,000 after acquiring an additional 207,493 shares during the last quarter. Hedge funds and other institutional investors own 87.18% of the company's stock.

Analyst Ratings Changes

NOW has been the subject of several research reports. Needham & Company LLC lifted their price target on ServiceNow from $1,050.00 to $1,200.00 and gave the stock a "buy" rating in a research note on Thursday, July 24th. Scotiabank set a $1,100.00 price target on ServiceNow and gave the company an "outperform" rating in a research report on Wednesday, May 7th. Piper Sandler increased their target price on shares of ServiceNow from $1,120.00 to $1,150.00 and gave the stock an "overweight" rating in a research report on Thursday, July 24th. Wall Street Zen raised shares of ServiceNow from a "hold" rating to a "buy" rating in a research report on Tuesday, July 29th. Finally, Stifel Nicolaus boosted their price target on ServiceNow from $975.00 to $1,050.00 and gave the stock a "buy" rating in a research report on Tuesday, May 6th. One analyst has rated the stock with a sell rating, three have issued a hold rating, thirty have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $1,115.20.

Insider Buying and Selling

In other ServiceNow 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 value of $2,074,620.50. Following the completion of the sale, the chief executive officer directly owned 6,614 shares of the company's stock, valued at approximately $6,693,434.14. This represents a 23.66% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jacqueline P. Canney sold 145 shares of the business's stock in a transaction that occurred on Friday, May 30th. The stock was sold at an average price of $1,020.00, for a total transaction of $147,900.00. Following the completion of the sale, the insider owned 3,027 shares in the company, valued at $3,087,540. The trade was a 4.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 5,990 shares of company stock worth $6,047,567. 0.38% of the stock is owned by corporate insiders.

ServiceNow Stock Performance

Shares of NYSE NOW traded up $5.95 during midday trading on Wednesday, reaching $911.07. 1,067,691 shares of the company traded hands, compared to its average volume of 1,630,136. The stock has a 50-day moving average price of $990.76 and a 200 day moving average price of $947.93. The company has a market cap of $189.50 billion, a price-to-earnings ratio of 114.74, a PEG ratio of 4.08 and a beta of 0.93. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.09 and a quick ratio of 1.09. ServiceNow, Inc. has a 52 week low of $678.66 and a 52 week high of $1,198.09.

ServiceNow (NYSE:NOW - Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The information technology services provider reported $4.09 earnings per share (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts' expectations of $3.12 billion. During the same period last year, the firm posted $3.13 earnings per share. The business's revenue was up 22.4% on a year-over-year basis. Sell-side analysts anticipate 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.