Bank of New York Mellon Corp Boosts Holdings in ServiceNow, Inc. (NYSE:NOW)

Bank of New York Mellon Corp boosted its holdings in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 7.8% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,622,430 shares of the information technology services provider's stock after purchasing an additional 117,985 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.78% of ServiceNow worth $1,291,681,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Cassady Schiller Wealth Management LLC boosted its holdings in ServiceNow by 44.0% during the fourth quarter. Cassady Schiller Wealth Management LLC now owns 36 shares of the information technology services provider's stock valued at $38,000 after acquiring an additional 11 shares during the period. Plancorp LLC grew its stake in shares of ServiceNow by 4.1% in the fourth quarter. Plancorp LLC now owns 308 shares of the information technology services provider's stock worth $327,000 after acquiring an additional 12 shares during the last quarter. Capital Investment Advisory Services LLC increased its position in ServiceNow by 2.1% during the first quarter. Capital Investment Advisory Services LLC now owns 577 shares of the information technology services provider's stock worth $459,000 after acquiring an additional 12 shares during the period. Kesler Norman & Wride LLC raised 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 purchasing an additional 13 shares during the last quarter. Finally, Sepio Capital LP boosted its holdings in ServiceNow by 3.8% in the 4th quarter. Sepio Capital LP now owns 359 shares of the information technology services provider's stock valued at $381,000 after purchasing an additional 13 shares during the period. 87.18% of the stock is owned by institutional investors and hedge funds.

Insider Activity at ServiceNow

In related news, Director Anita M. Sands sold 248 shares of the firm's stock in a transaction dated 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 transaction, the director owned 10,643 shares of the company's stock, valued at approximately $10,740,277.02. This trade represents a 2.28% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Vice Chairman Nicholas Tzitzon sold 1,171 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 value of $1,194,420.00. Following the sale, the insider directly owned 3,000 shares of the company's stock, valued at $3,060,000. This represents a 28.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 6,716 shares of company stock worth $6,611,245 over the last quarter. 0.38% of the stock is owned by company insiders.

ServiceNow Trading Up 3.6%

NYSE:NOW traded up $36.27 on Friday, reaching $1,046.03. 1,205,886 shares of the stock traded hands, compared to its average volume of 1,487,467. The firm has a market capitalization of $216.51 billion, a price-to-earnings ratio of 142.12, a price-to-earnings-growth ratio of 4.80 and a beta of 0.94. ServiceNow, Inc. has a 1-year low of $678.66 and a 1-year high of $1,198.09. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.15. The company's 50 day moving average is $1,003.94 and its 200-day moving average is $963.64.

ServiceNow (NYSE:NOW - Get Free Report) last released its earnings results on Wednesday, April 23rd. The information technology services provider reported $4.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.78 by $0.26. ServiceNow had a net margin of 13.41% and a return on equity of 17.34%. 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 business earned $3.41 earnings per share. ServiceNow's revenue for the quarter was up 18.6% on a year-over-year basis. Equities research analysts anticipate that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have commented on NOW. Canaccord Genuity Group cut their price target on ServiceNow from $1,275.00 to $900.00 and set a "buy" rating for the company in a report on Tuesday, April 22nd. Needham & Company LLC reiterated a "buy" rating and set a $1,050.00 target price on shares of ServiceNow in a research report on Tuesday, May 6th. Barclays set a $1,085.00 target price on ServiceNow in a research note on Wednesday, May 7th. Erste Group Bank upgraded ServiceNow from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, April 30th. Finally, Evercore ISI upped their target price on shares of ServiceNow from $925.00 to $1,000.00 and gave the company an "outperform" rating in a research report on Thursday, April 24th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, thirty have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price 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.