Boothe Investment Group Inc. Has $6.14 Million Stake in ServiceNow, Inc. (NYSE:NOW)

Boothe Investment Group Inc. reduced its holdings in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 4.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,714 shares of the information technology services provider's stock after selling 325 shares during the quarter. ServiceNow accounts for about 2.8% of Boothe Investment Group Inc.'s holdings, making the stock its 15th biggest position. Boothe Investment Group Inc.'s holdings in ServiceNow were worth $6,141,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in NOW. Brighton Jones LLC lifted its position in shares of ServiceNow by 1.1% during 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 in the last quarter. Union Bancaire Privee UBP SA bought a new position in shares of ServiceNow during the fourth quarter valued at about $48,802,000. Van ECK Associates Corp lifted its position in shares of ServiceNow by 2.5% during the fourth quarter. Van ECK Associates Corp now owns 12,556 shares of the information technology services provider's stock valued at $13,311,000 after purchasing an additional 301 shares in the last quarter. Banque Pictet & Cie SA bought a new stake in ServiceNow in the fourth quarter worth about $516,000. Finally, Valeo Financial Advisors LLC raised its position in ServiceNow by 3.2% in the fourth quarter. Valeo Financial Advisors LLC now owns 2,070 shares of the information technology services provider's stock worth $2,194,000 after acquiring an additional 65 shares during the period. 87.18% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have commented on NOW shares. UBS Group reaffirmed a "buy" rating and issued a $1,025.00 price objective (up previously from $900.00) on shares of ServiceNow in a research report on Thursday, April 24th. Stifel Nicolaus lifted their price objective on shares of ServiceNow from $975.00 to $1,050.00 and gave the stock a "buy" rating in a research report on Tuesday, May 6th. Redburn Atlantic started coverage on shares of ServiceNow in a research report on Wednesday, February 19th. They issued a "buy" rating on the stock. Mizuho lifted their price objective on shares of ServiceNow from $1,050.00 to $1,100.00 and gave the stock an "outperform" rating in a research report on Thursday, June 12th. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $1,050.00 price objective on shares of ServiceNow in a research report on Tuesday, May 6th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-nine have issued a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $1,062.50.

Insiders Place Their Bets

In other ServiceNow news, Director Anita M. Sands sold 248 shares of the firm's stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $1,009.14, for a total value of $250,266.72. Following the completion of the sale, the director now owns 10,643 shares in the company, 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, General Counsel Russell S. Elmer sold 62 shares of the firm'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 transaction, the general counsel now owns 4,332 shares of the company's stock, valued at $4,431,636. This trade represents a 1.41% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 6,716 shares of company stock worth $6,611,245. 0.38% of the stock is currently owned by company insiders.

ServiceNow Stock Down 2.4%

Shares of NYSE NOW traded down $24.62 during mid-day trading on Thursday, reaching $980.29. 1,208,405 shares of the company traded hands, compared to its average volume of 1,481,461. 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 stock has a market cap of $202.90 billion, a PE ratio of 133.19, a price-to-earnings-growth ratio of 4.63 and a beta of 0.95. The company's fifty day moving average is $956.82 and its two-hundred day moving average is $972.45. ServiceNow, Inc. has a fifty-two week low of $678.66 and a fifty-two week 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 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 company had revenue of $3.09 billion during the quarter, compared to analyst estimates of $3.09 billion. During the same period in the previous year, the company earned $3.41 earnings per share. The company's quarterly revenue was up 18.6% compared to the same quarter last year. On average, analysts expect that ServiceNow, Inc. will post 8.93 earnings per share for the current 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.