338 Shares in ServiceNow, Inc. (NYSE:NOW) Purchased by Allium Financial Advisors LLC

Key Points

• Allium Financial Advisors LLC acquired a new position in ServiceNow, Inc. during the 1st quarter, buying 338 shares valued at approximately $269,000.
• Several institutional investors, including Bogart Wealth LLC and WASHINGTON TRUST Co, have significantly increased their holdings in ServiceNow, contributing to a total institutional ownership of 87.18%.
• ServiceNow's stock recently faced a 2.8% decline, with a current trading price around $968.05 and a market cap of $200.37 billion.

Allium Financial Advisors LLC acquired a new position in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 338 shares of the information technology services provider's stock, valued at approximately $269,000.

Several other large investors have also recently added to or reduced their stakes in NOW. Motco lifted its stake in ServiceNow by 1,563.6% in the first quarter. Motco now owns 183 shares of the information technology services provider's stock valued at $146,000 after buying an additional 172 shares during the period. Integrated Investment Consultants LLC increased its holdings in ServiceNow by 2.5% in the 1st quarter. Integrated Investment Consultants LLC now owns 450 shares of the information technology services provider's stock worth $358,000 after purchasing an additional 11 shares in the last quarter. HB Wealth Management LLC grew its position in shares of ServiceNow by 75.6% in the 1st quarter. HB Wealth Management LLC now owns 7,686 shares of the information technology services provider's stock valued at $6,119,000 after buying an additional 3,309 shares during the last quarter. Angeles Wealth Management LLC boosted its holdings in ServiceNow by 2.2% in the first quarter. Angeles Wealth Management LLC now owns 1,371 shares of the information technology services provider's stock worth $1,092,000 after acquiring an additional 30 shares in the last quarter. Finally, Stevens Capital Management LP increased its position in shares of ServiceNow by 95.5% during the first quarter. Stevens Capital Management LP now owns 563 shares of the information technology services provider's stock valued at $448,000 after acquiring an additional 275 shares during the last quarter. 87.18% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, Director Anita M. Sands sold 239 shares of the firm's stock in a transaction dated Thursday, July 3rd. The shares were sold at an average price of $1,050.00, for a total value of $250,950.00. Following the transaction, the director directly owned 10,404 shares in the company, valued at approximately $10,924,200. This trade represents a 2.25% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Jacqueline P. Canney sold 145 shares of ServiceNow 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 transaction, the insider directly owned 3,027 shares in the company, valued at $3,087,540. This represents a 4.57% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 5,233 shares of company stock valued at $5,297,758. 0.38% of the stock is owned by corporate insiders.

ServiceNow Trading Down 1.0%

Shares of NOW traded down $10.30 on Wednesday, hitting $982.91. 437,997 shares of the stock traded hands, compared to its average volume of 1,683,306. ServiceNow, Inc. has a 1 year low of $678.66 and a 1 year high of $1,198.09. 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's 50 day moving average is $998.96 and its two-hundred day moving average is $951.86. The firm has a market capitalization of $204.44 billion, a P/E ratio of 123.83, a P/E/G ratio of 4.44 and a beta of 0.94.

ServiceNow (NYSE:NOW - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The information technology services provider reported $4.09 EPS for the quarter, topping 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 firm had revenue of $3.22 billion during the quarter, compared to analyst estimates of $3.12 billion. During the same quarter in the prior year, the business posted $3.13 earnings per share. ServiceNow's revenue for the quarter was up 22.4% compared to the same quarter last year. As a group, sell-side analysts predict that ServiceNow, Inc. will post 8.93 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. JMP Securities restated a "market outperform" rating and set a $1,300.00 target price on shares of ServiceNow in a research report on Tuesday, July 22nd. Royal Bank Of Canada increased their price target on ServiceNow from $1,060.00 to $1,100.00 and gave the company an "outperform" rating in a report on Tuesday, May 6th. Bank of America raised their price target on ServiceNow from $1,110.00 to $1,200.00 and gave the company a "buy" rating in a report on Thursday, July 24th. Wells Fargo & Company lifted their price target on shares of ServiceNow from $1,150.00 to $1,225.00 and gave the company an "overweight" rating in a research note on Thursday, July 24th. Finally, Piper Sandler lifted their price target on shares of ServiceNow from $1,120.00 to $1,150.00 and gave the stock an "overweight" rating in a report on Thursday, July 24th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, thirty have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $1,115.20.

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.