Cerity Partners LLC Raises Holdings in ServiceNow, Inc. (NYSE:NOW)

Cerity Partners LLC lifted its position in ServiceNow, Inc. (NYSE:NOW - Free Report) by 1.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 87,802 shares of the information technology services provider's stock after buying an additional 1,574 shares during the quarter. Cerity Partners LLC's holdings in ServiceNow were worth $69,902,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Telos Capital Management Inc. raised its holdings in shares of ServiceNow by 2.4% in the 1st quarter. Telos Capital Management Inc. now owns 5,695 shares of the information technology services provider's stock valued at $4,534,000 after buying an additional 135 shares during the period. Alps Advisors Inc. grew its stake in ServiceNow by 11.3% during the 1st quarter. Alps Advisors Inc. now owns 4,049 shares of the information technology services provider's stock worth $3,224,000 after purchasing an additional 411 shares in the last quarter. Capital Insight Partners LLC grew its stake in ServiceNow by 4.0% during the 1st quarter. Capital Insight Partners LLC now owns 1,634 shares of the information technology services provider's stock worth $1,301,000 after purchasing an additional 63 shares in the last quarter. Stonebrook Private Inc. grew its stake in ServiceNow by 19.0% during the 1st quarter. Stonebrook Private Inc. now owns 632 shares of the information technology services provider's stock worth $503,000 after purchasing an additional 101 shares in the last quarter. Finally, Parr Mcknight Wealth Management Group LLC acquired a new position in ServiceNow during the 1st quarter worth $1,820,000. Hedge funds and other institutional investors own 87.18% of the company's stock.

ServiceNow Stock Performance

Shares of NYSE NOW traded down $30.97 during trading hours on Friday, reaching $937.12. The stock had a trading volume of 2,144,933 shares, compared to its average volume of 1,483,800. The firm has a market cap of $193.97 billion, a price-to-earnings ratio of 127.33, a PEG ratio of 4.45 and a beta of 0.94. 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, Inc. has a fifty-two week low of $678.66 and a fifty-two week high of $1,198.09. The firm has a 50-day moving average of $1,008.08 and a 200-day moving average of $960.59.

ServiceNow (NYSE:NOW - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The information technology services provider reported $4.04 EPS for the quarter, beating the consensus estimate of $3.78 by $0.26. The firm had revenue of $3.09 billion during the quarter, compared to the consensus estimate of $3.09 billion. ServiceNow had a return on equity of 17.34% and a net margin of 13.41%. The firm's revenue was up 18.6% compared to the same quarter last year. During the same period in the prior year, the business earned $3.41 EPS. Equities research analysts predict that ServiceNow, Inc. will post 8.93 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts recently commented on NOW shares. Robert W. Baird boosted their target price on ServiceNow from $1,010.00 to $1,150.00 and gave the stock an "outperform" rating in a research note on Thursday, April 24th. Piper Sandler lowered their target price on ServiceNow from $1,200.00 to $1,120.00 and set an "overweight" rating for the company in a research note on Thursday, April 24th. Sanford C. Bernstein reissued an "outperform" rating and set a $1,003.00 target price on shares of ServiceNow in a research note on Thursday, April 24th. Morgan Stanley reissued an "equal weight" rating on shares of ServiceNow in a research note on Tuesday. Finally, Erste Group Bank raised ServiceNow from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, April 30th. One analyst has rated the stock with a sell rating, three have given a hold rating, thirty have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $1,068.23.

Insider Activity

In other ServiceNow 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 transaction of $147,900.00. Following the completion of the sale, the insider directly owned 3,027 shares of the company's stock, valued at $3,087,540. This represents a 4.57% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Vice Chairman Nicholas Tzitzon sold 1,171 shares of the company's stock in a transaction that occurred on Friday, May 30th. The shares were 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 approximately $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 sold 6,955 shares of company stock worth $6,862,195 over the last quarter. 0.38% of the stock is owned by insiders.

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.