Confluence Wealth Services Inc. Buys 412 Shares of ServiceNow, Inc. (NYSE:NOW)

Confluence Wealth Services Inc. lifted its stake in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 114.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 773 shares of the information technology services provider's stock after acquiring an additional 412 shares during the quarter. Confluence Wealth Services Inc.'s holdings in ServiceNow were worth $628,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Quarry LP bought a new position in shares of ServiceNow during the 4th quarter valued at approximately $27,000. Atala Financial Inc purchased a new position in ServiceNow in the 4th quarter worth approximately $28,000. LFA Lugano Financial Advisors SA purchased a new position in ServiceNow in the 4th quarter worth approximately $32,000. Noble Wealth Management PBC purchased a new position in ServiceNow in the 4th quarter worth approximately $34,000. Finally, Heck Capital Advisors LLC purchased a new position in ServiceNow in the 4th quarter worth approximately $37,000. 87.18% of the stock is currently owned by institutional investors.

Insider Buying and Selling at ServiceNow

In other news, insider Jacqueline P. Canney sold 354 shares of the stock in a transaction on Wednesday, April 16th. The stock was sold at an average price of $804.61, for a total transaction of $284,831.94. Following the transaction, the insider now owns 3,027 shares of the company's stock, valued at approximately $2,435,554.47. This represents a 10.47% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO William R. Mcdermott sold 2,050 shares of the stock in a transaction on Friday, May 30th. The stock was sold at an average price of $1,012.01, for a total value of $2,074,620.50. Following the transaction, the chief executive officer now directly owns 6,614 shares in the company, valued at $6,693,434.14. The trade was a 23.66% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 6,716 shares of company stock valued at $6,611,245 in the last quarter. 0.38% of the stock is owned by insiders.

ServiceNow Stock Performance

Shares of ServiceNow stock opened at $1,023.56 on Friday. The stock's fifty day moving average is $985.61 and its two-hundred day moving average is $965.98. The company has a market capitalization of $211.86 billion, a PE ratio of 139.07, a price-to-earnings-growth ratio of 4.70 and a beta of 0.95. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.15. ServiceNow, Inc. has a 52 week low of $678.66 and a 52 week high of $1,198.09.

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, beating the consensus estimate of $3.78 by $0.26. The company had revenue of $3.09 billion for 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%. ServiceNow's quarterly revenue was up 18.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.41 EPS. As a group, analysts expect that ServiceNow, Inc. will post 8.93 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms recently commented on NOW. TD Securities reissued a "buy" rating and issued a $1,100.00 price target on shares of ServiceNow in a report on Thursday, April 24th. Wells Fargo & Company boosted their price target on ServiceNow from $1,100.00 to $1,150.00 and gave the stock an "overweight" rating in a report on Thursday, April 24th. Sanford C. Bernstein reissued an "outperform" rating and issued a $1,003.00 price target on shares of ServiceNow in a report on Thursday, April 24th. Guggenheim upped their price objective on ServiceNow from $716.00 to $724.00 and gave the stock a "sell" rating in a report on Thursday, April 24th. Finally, Mizuho upped their price objective on ServiceNow from $1,050.00 to $1,100.00 and gave the stock an "outperform" rating in a report on Thursday, June 12th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, thirty-one have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, ServiceNow has an average rating of "Moderate Buy" and an average target price of $1,065.32.

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.

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