Compagnie Lombard Odier SCmA Buys 22,864 Shares of ServiceNow, Inc. (NYSE:NOW)

Compagnie Lombard Odier SCmA increased its position in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 18.4% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 147,157 shares of the information technology services provider's stock after buying an additional 22,864 shares during the period. ServiceNow accounts for 1.4% of Compagnie Lombard Odier SCmA's holdings, making the stock its 17th biggest holding. Compagnie Lombard Odier SCmA owned about 0.07% of ServiceNow worth $117,158,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. Avidian Wealth Enterprises LLC increased its stake in ServiceNow by 1.8% in the fourth quarter. Avidian Wealth Enterprises LLC now owns 497 shares of the information technology services provider's stock valued at $527,000 after purchasing an additional 9 shares in the last quarter. TBH Global Asset Management LLC increased its stake in ServiceNow by 3.8% in the fourth quarter. TBH Global Asset Management LLC now owns 302 shares of the information technology services provider's stock valued at $320,000 after purchasing an additional 11 shares in the last quarter. Onefund LLC increased its stake in ServiceNow by 2.0% in the fourth quarter. Onefund LLC now owns 552 shares of the information technology services provider's stock valued at $585,000 after purchasing an additional 11 shares in the last quarter. Cassady Schiller Wealth Management LLC increased its stake in ServiceNow by 44.0% in 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 purchasing an additional 11 shares in the last quarter. Finally, Valley Brook Capital Group Inc. increased its stake in ServiceNow by 2.7% in the fourth quarter. Valley Brook Capital Group Inc. now owns 459 shares of the information technology services provider's stock valued at $487,000 after purchasing an additional 12 shares in the last quarter. Institutional investors own 87.18% of the company's stock.

Insider Activity

In other news, CEO William R. Mcdermott sold 2,050 shares of the business's stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $1,012.01, for a total value of $2,074,620.50. Following the sale, the chief executive officer now owns 6,614 shares of the company's stock, valued at $6,693,434.14. The trade was a 23.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Anita M. Sands sold 428 shares of the stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $1,013.61, for a total transaction of $433,825.08. Following the completion of the sale, the director now owns 10,891 shares in the company, valued at $11,039,226.51. This represents a 3.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 6,716 shares of company stock valued at $6,611,245 over the last quarter. Company insiders own 0.38% of the company's stock.

ServiceNow Stock Performance

NOW stock traded down $19.66 during mid-day trading on Friday, hitting $987.71. The company had a trading volume of 1,332,159 shares, compared to its average volume of 1,483,399. The firm has a market cap of $204.44 billion, a PE ratio of 144.61, a price-to-earnings-growth ratio of 4.51 and a beta of 0.95. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.10 and a current ratio of 1.10. ServiceNow, Inc. has a 12 month low of $678.66 and a 12 month high of $1,198.09. The stock's fifty day moving average price is $944.56 and its two-hundred day moving average price is $972.50.

ServiceNow (NYSE:NOW - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The information technology services provider reported $4.04 EPS for the quarter, topping the consensus estimate of $3.78 by $0.26. ServiceNow had a net margin of 12.97% and a return on equity of 17.11%. 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 posted $3.41 earnings per share. The company's revenue for the quarter was up 18.6% on a year-over-year basis. On average, analysts forecast that ServiceNow, Inc. will post 8.93 earnings per share for the current fiscal year.

Analysts Set New Price Targets

NOW has been the subject of several research analyst reports. Evercore ISI lifted their price target on shares of ServiceNow from $925.00 to $1,000.00 and gave the company an "outperform" rating in a research note on Thursday, April 24th. Truist Financial upgraded shares of ServiceNow from a "hold" rating to a "buy" rating and lifted their price objective for the company from $950.00 to $1,200.00 in a report on Thursday, May 1st. Needham & Company LLC reiterated a "buy" rating and set a $1,050.00 price objective on shares of ServiceNow in a report on Tuesday, May 6th. Morgan Stanley lifted their price objective on shares of ServiceNow from $881.00 to $950.00 and gave the company an "equal weight" rating in a report on Thursday, April 24th. Finally, Robert W. Baird lifted their price objective on shares of ServiceNow from $1,010.00 to $1,150.00 and gave the company an "outperform" rating in a report on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-nine have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, ServiceNow currently has an average rating of "Moderate Buy" and an average price target of $1,062.50.

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.