Allspring Global Investments Holdings LLC Purchases 2,015 Shares of ServiceNow, Inc. (NYSE:NOW)

Allspring Global Investments Holdings LLC increased its position in ServiceNow, Inc. (NYSE:NOW - Free Report) by 0.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 288,912 shares of the information technology services provider's stock after buying an additional 2,015 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.14% of ServiceNow worth $234,469,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of NOW. Brighton Jones LLC lifted its position in ServiceNow by 1.1% in the fourth quarter. Brighton Jones LLC now owns 2,753 shares of the information technology services provider's stock valued at $2,919,000 after purchasing an additional 30 shares during the last quarter. Pine Valley Investments Ltd Liability Co bought a new stake in ServiceNow in the fourth quarter valued at approximately $219,000. Whipplewood Advisors LLC bought a new stake in ServiceNow in the fourth quarter valued at approximately $269,000. Oppenheimer & Co. Inc. lifted its position in ServiceNow by 4.9% in the fourth quarter. Oppenheimer & Co. Inc. now owns 6,051 shares of the information technology services provider's stock valued at $6,415,000 after purchasing an additional 285 shares during the last quarter. Finally, Proficio Capital Partners LLC lifted its position in 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 purchasing an additional 666,383 shares during the last quarter. Institutional investors own 87.18% of the company's stock.

ServiceNow Trading Up 1.2%

NYSE NOW opened at $1,023.56 on Friday. ServiceNow, Inc. has a 12 month low of $678.66 and a 12 month high of $1,198.09. The stock has a market cap of $211.86 billion, a P/E ratio of 139.07, a P/E/G ratio of 4.65 and a beta of 0.95. The stock's fifty day moving average price is $985.61 and its 200-day moving average price is $967.23. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.15.

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

Insider Transactions at ServiceNow

In related news, Vice Chairman Nicholas Tzitzon sold 1,171 shares of the stock in a transaction on Friday, May 30th. The stock was sold at an average price of $1,020.00, for a total transaction of $1,194,420.00. Following the sale, the insider now directly owns 3,000 shares of the company's stock, valued at $3,060,000. This trade represents a 28.07% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Anita M. Sands sold 248 shares of the stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $1,009.14, for a total value of $250,266.72. Following the sale, the director now directly owns 10,643 shares in the company, valued at $10,740,277.02. This trade represents a 2.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 6,716 shares of company stock valued at $6,611,245. Insiders own 0.38% of the company's stock.

Analysts Set New Price Targets

Several analysts have weighed in on NOW shares. Scotiabank set a $1,100.00 price objective on ServiceNow and gave the company an "outperform" rating in a research report on Wednesday, May 7th. Evercore ISI boosted their price objective on ServiceNow from $925.00 to $1,000.00 and gave the company an "outperform" rating in a research report on Thursday, April 24th. Wall Street Zen upgraded ServiceNow from a "hold" rating to a "buy" rating in a report on Friday. FBN Securities upgraded ServiceNow to a "strong-buy" rating in a report on Wednesday, June 11th. Finally, Erste Group Bank upgraded ServiceNow from a "hold" rating to a "strong-buy" rating in a report on Wednesday, April 30th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, thirty-one have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, ServiceNow presently has a consensus rating of "Moderate Buy" and an average price target of $1,065.32.

ServiceNow Profile

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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