Dynamic Advisor Solutions LLC Makes New $1.28 Million Investment in ServiceNow, Inc. (NYSE:NOW)

Dynamic Advisor Solutions LLC bought a new position in ServiceNow, Inc. (NYSE:NOW - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 1,601 shares of the information technology services provider's stock, valued at approximately $1,275,000.

A number of other hedge funds also recently bought and sold shares of NOW. Quarry LP purchased a new position in ServiceNow during the 4th quarter valued at $27,000. Atala Financial Inc purchased a new position in ServiceNow during the 4th quarter valued at about $28,000. LFA Lugano Financial Advisors SA bought a new stake in ServiceNow during the fourth quarter worth about $32,000. Noble Wealth Management PBC purchased a new stake in ServiceNow in the fourth quarter worth about $34,000. Finally, FPC Investment Advisory Inc. lifted its holdings in shares of ServiceNow by 725.0% during the fourth quarter. FPC Investment Advisory Inc. now owns 33 shares of the information technology services provider's stock valued at $34,000 after purchasing an additional 29 shares during the last quarter. Hedge funds and other institutional investors own 87.18% of the company's stock.

Analyst Ratings Changes

A number of research firms have weighed in on NOW. JPMorgan Chase & Co. lowered their target price on ServiceNow from $1,200.00 to $970.00 and set an "overweight" rating on the stock in a report on Tuesday, April 22nd. Bank of America dropped their price objective on shares of ServiceNow from $1,280.00 to $1,025.00 and set a "buy" rating on the stock in a report on Tuesday, April 15th. Raymond James Financial reduced their target price on shares of ServiceNow from $1,200.00 to $1,000.00 and set an "outperform" rating for the company in a report on Tuesday, April 8th. Morgan Stanley increased their price target on shares of ServiceNow from $881.00 to $950.00 and gave the stock an "equal weight" rating in a research report on Thursday, April 24th. Finally, Erste Group Bank raised shares of ServiceNow from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, April 30th. One research 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 given a strong buy rating to the company. According to data from MarketBeat.com, ServiceNow presently has an average rating of "Moderate Buy" and an average target price of $1,062.50.

Insider Activity at ServiceNow

In other news, insider Jacqueline P. Canney sold 354 shares of the stock in a transaction dated Wednesday, April 16th. The shares were sold at an average price of $804.61, for a total transaction of $284,831.94. Following the sale, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Vice Chairman Nicholas Tzitzon sold 1,171 shares of the firm'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 transaction of $1,194,420.00. Following the completion of the transaction, the insider now directly owns 3,000 shares of the company's stock, valued at approximately $3,060,000. The trade was a 28.07% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 6,716 shares of company stock valued at $6,611,245. 0.38% of the stock is owned by insiders.

ServiceNow Stock Performance

Shares of NYSE NOW traded down $16.56 during mid-day trading on Wednesday, hitting $988.35. The stock had a trading volume of 149,685 shares, compared to its average volume of 1,476,390. The company has a 50 day moving average of $953.73 and a two-hundred day moving average of $972.40. ServiceNow, Inc. has a twelve month low of $678.66 and a twelve month high of $1,198.09. 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 firm has a market cap of $204.57 billion, a PE ratio of 134.84, a PEG ratio of 4.63 and a beta of 0.95.

ServiceNow (NYSE:NOW - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The information technology services provider reported $4.04 earnings per share for the quarter, topping 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 firm had revenue of $3.09 billion for the quarter, compared to analyst estimates of $3.09 billion. During the same quarter in the prior year, the business earned $3.41 earnings per share. The business's quarterly revenue was up 18.6% compared to the same quarter last year. Research analysts predict that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

ServiceNow Company 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.