650 Shares in ServiceNow, Inc. (NYSE:NOW) Purchased by Palisade Capital Management LP

Palisade Capital Management LP purchased a new position in ServiceNow, Inc. (NYSE:NOW - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 650 shares of the information technology services provider's stock, valued at approximately $517,000.

Other large investors also recently bought and sold shares of the company. GAMMA Investing LLC increased its holdings in shares of ServiceNow by 87,501.3% in the first quarter. GAMMA Investing LLC now owns 2,689,361 shares of the information technology services provider's stock valued at $2,141,108,000 after purchasing an additional 2,686,291 shares during the last quarter. Norges Bank acquired a new stake in shares of ServiceNow in the fourth quarter valued at $2,603,360,000. Proficio Capital Partners LLC grew its stake in shares of ServiceNow by 154,255.3% in the fourth quarter. Proficio Capital Partners LLC now owns 666,815 shares of the information technology services provider's stock valued at $667,000 after buying an additional 666,383 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in ServiceNow by 6.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 7,955,924 shares of the information technology services provider's stock worth $8,434,235,000 after purchasing an additional 509,467 shares in the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its stake in ServiceNow by 36.7% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 1,830,419 shares of the information technology services provider's stock worth $1,940,464,000 after purchasing an additional 491,861 shares in the last quarter. Institutional investors and hedge funds own 87.18% of the company's stock.

Insider Transactions at ServiceNow

In other news, Director Deborah Black sold 598 shares of ServiceNow stock in a transaction dated Friday, April 25th. The stock was sold at an average price of $940.23, for a total value of $562,257.54. Following the transaction, the director owned 428 shares in the company, valued at approximately $402,418.44. The trade was a 58.28% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO William R. Mcdermott sold 2,050 shares of ServiceNow stock in a transaction dated Friday, May 30th. The stock was sold at an average price of $1,012.01, for a total value of $2,074,620.50. Following the completion of the transaction, the chief executive officer owned 6,614 shares in the company, valued at approximately $6,693,434.14. This represents a 23.66% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 6,716 shares of company stock valued at $6,611,245. 0.38% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Guggenheim boosted their target price on ServiceNow from $716.00 to $724.00 and gave the stock a "sell" rating in a research note on Thursday, April 24th. Evercore ISI upped their price target on ServiceNow from $925.00 to $1,000.00 and gave the stock an "outperform" rating in a research note on Thursday, April 24th. Mizuho upped their price objective on ServiceNow from $1,050.00 to $1,100.00 and gave the stock an "outperform" rating in a report on Thursday, June 12th. The Goldman Sachs Group reissued a "buy" rating on shares of ServiceNow in a report on Thursday, April 24th. Finally, Canaccord Genuity Group lowered their target price on ServiceNow from $1,275.00 to $900.00 and set a "buy" rating on the stock in a report on Tuesday, April 22nd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, thirty-one have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, ServiceNow has a consensus rating of "Moderate Buy" and an average target price of $1,068.23.

ServiceNow Price Performance

ServiceNow stock opened at $1,046.03 on Friday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.12 and a current ratio of 1.12. ServiceNow, Inc. has a 52 week low of $678.66 and a 52 week high of $1,198.09. The stock has a market capitalization of $216.51 billion, a P/E ratio of 142.12, a price-to-earnings-growth ratio of 4.64 and a beta of 0.94. The stock has a fifty day moving average of $1,001.94 and a 200-day moving average of $964.12.

ServiceNow (NYSE:NOW - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The information technology services provider reported $4.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.78 by $0.26. The business had revenue of $3.09 billion for the quarter, compared to analyst estimates of $3.09 billion. ServiceNow had a return on equity of 17.34% and a net margin of 13.41%. The company's quarterly revenue was up 18.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.41 earnings per share. On average, sell-side analysts expect 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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