Alps Advisors Inc. Raises Stock Position in ServiceNow, Inc. (NYSE:NOW)

Alps Advisors Inc. raised its stake in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 11.3% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,049 shares of the information technology services provider's stock after purchasing an additional 411 shares during the quarter. Alps Advisors Inc.'s holdings in ServiceNow were worth $3,224,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Cassady Schiller Wealth Management LLC boosted its holdings in shares of ServiceNow by 44.0% during the 4th quarter. Cassady Schiller Wealth Management LLC now owns 36 shares of the information technology services provider's stock valued at $38,000 after buying an additional 11 shares in the last quarter. Plancorp LLC lifted its stake in ServiceNow by 4.1% during the 4th quarter. Plancorp LLC now owns 308 shares of the information technology services provider's stock valued at $327,000 after acquiring an additional 12 shares during the period. Capital Investment Advisory Services LLC lifted its stake in ServiceNow by 2.1% during the 1st quarter. Capital Investment Advisory Services LLC now owns 577 shares of the information technology services provider's stock valued at $459,000 after acquiring an additional 12 shares during the period. Kesler Norman & Wride LLC lifted its stake 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 valued at $1,157,000 after acquiring an additional 13 shares during the period. Finally, Sepio Capital LP lifted its stake in shares of ServiceNow by 3.8% in the 4th quarter. Sepio Capital LP now owns 359 shares of the information technology services provider's stock worth $381,000 after purchasing an additional 13 shares during the period. 87.18% of the stock is owned by hedge funds and other institutional investors.

ServiceNow Stock Performance

Shares of ServiceNow stock opened at $937.12 on Friday. The company has a market capitalization of $193.97 billion, a PE ratio of 127.33, a P/E/G ratio of 4.45 and a beta of 0.94. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.12 and a current ratio of 1.12. The company has a 50-day simple moving average of $1,008.08 and a two-hundred day simple moving average of $960.59. ServiceNow, Inc. has a one year low of $678.66 and a one year high of $1,198.09.

ServiceNow (NYSE:NOW - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The information technology services provider reported $4.04 earnings per share 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 business had revenue of $3.09 billion for the quarter, compared to analyst estimates of $3.09 billion. During the same quarter in the previous year, the firm earned $3.41 earnings per share. The company's revenue was up 18.6% on a year-over-year basis. Research analysts expect that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

Insider Transactions at ServiceNow

In related news, insider Jacqueline P. Canney sold 145 shares of the company'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 value of $147,900.00. Following the sale, the insider owned 3,027 shares in the company, valued at $3,087,540. This represents a 4.57% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel Russell S. Elmer sold 62 shares of the company's stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $1,023.00, for a total value of $63,426.00. Following the completion of the sale, the general counsel owned 4,332 shares in the company, valued at approximately $4,431,636. This represents a 1.41% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 6,955 shares of company stock valued at $6,862,195 over the last quarter. Company insiders own 0.38% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Canaccord Genuity Group lowered their price objective on shares of ServiceNow from $1,275.00 to $900.00 and set a "buy" rating on the stock in a research note on Tuesday, April 22nd. Mizuho increased their price objective on shares of ServiceNow from $1,050.00 to $1,100.00 and gave the company an "outperform" rating in a report on Thursday, June 12th. Needham & Company LLC reissued a "buy" rating and issued a $1,050.00 target price on shares of ServiceNow in a report on Tuesday, May 6th. BMO Capital Markets raised their target price on shares of ServiceNow from $1,025.00 to $1,150.00 and gave the company an "outperform" rating in a report on Wednesday, May 14th. Finally, Robert W. Baird lifted their price objective on shares of ServiceNow from $1,010.00 to $1,150.00 and gave the stock an "outperform" rating in a research note on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, thirty have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $1,068.23.

ServiceNow Company 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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