Cwm LLC Purchases 3,099 Shares of ServiceNow, Inc. (NYSE:NOW)

CWM LLC grew its holdings in ServiceNow, Inc. (NYSE:NOW - Free Report) by 51.2% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 9,155 shares of the information technology services provider's stock after buying an additional 3,099 shares during the quarter. CWM LLC's holdings in ServiceNow were worth $7,289,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in the business. Quarry LP bought a new stake in ServiceNow during the fourth quarter worth about $27,000. WASHINGTON TRUST Co grew its holdings in ServiceNow by 620.0% during the 1st quarter. WASHINGTON TRUST Co now owns 36 shares of the information technology services provider's stock worth $29,000 after acquiring an additional 31 shares during the last quarter. Heck Capital Advisors LLC bought a new stake in ServiceNow during the 4th quarter worth about $37,000. ST Germain D J Co. Inc. grew its holdings in ServiceNow by 63.3% during the 1st quarter. ST Germain D J Co. Inc. now owns 49 shares of the information technology services provider's stock worth $39,000 after acquiring an additional 19 shares during the last quarter. Finally, Smallwood Wealth Investment Management LLC bought a new stake in ServiceNow during the 1st quarter worth about $40,000. Institutional investors and hedge funds own 87.18% of the company's stock.

Insider Buying and Selling

In other news, Vice Chairman Nicholas Tzitzon sold 1,171 shares of ServiceNow 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 in the company, valued at $3,060,000. This trade represents a 28.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jacqueline P. Canney sold 145 shares of ServiceNow 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 transaction of $147,900.00. Following the completion of the sale, the insider owned 3,027 shares in the company, valued at $3,087,540. This trade represents a 4.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 6,601 shares of company stock valued at $6,577,363 over the last ninety days. Insiders own 0.38% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have commented on NOW. TD Securities reissued a "buy" rating and set a $1,100.00 price objective on shares of ServiceNow in a report on Thursday, April 24th. Jefferies Financial Group decreased their price objective on shares of ServiceNow from $1,250.00 to $1,025.00 and set a "buy" rating on the stock in a report on Tuesday, April 15th. Canaccord Genuity Group decreased their price objective on shares of ServiceNow from $1,275.00 to $900.00 and set a "buy" rating on the stock in a report on Tuesday, April 22nd. Oppenheimer reissued an "outperform" rating and set a $1,100.00 price objective (up previously from $970.00) on shares of ServiceNow in a report on Tuesday, May 6th. Finally, Scotiabank set a $1,100.00 target price on shares of ServiceNow and gave the company an "outperform" rating in a research note on Wednesday, May 7th. One analyst has rated the stock with a sell rating, two have given a hold rating, thirty-one have issued a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $1,075.87.

ServiceNow Stock Down 0.2%

Shares of NYSE:NOW traded down $1.46 during midday trading on Friday, reaching $957.69. 261,382 shares of the company were exchanged, compared to its average volume of 1,483,292. ServiceNow, Inc. has a fifty-two week low of $678.66 and a fifty-two week high of $1,198.09. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.15. The stock has a fifty day simple moving average of $1,006.88 and a two-hundred day simple moving average of $957.08. The firm has a market cap of $198.22 billion, a PE ratio of 130.26, a P/E/G ratio of 4.44 and a beta of 0.94.

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

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.