Emerald Advisers LLC Buys New Shares in ServiceNow, Inc. (NYSE:NOW)

Emerald Advisers LLC purchased a new position in ServiceNow, Inc. (NYSE:NOW - Free Report) during the 1st quarter, according to its most recent 13F filing with the SEC. The firm purchased 657 shares of the information technology services provider's stock, valued at approximately $523,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Quarry LP bought a new position in ServiceNow during the fourth quarter valued at about $27,000. Atala Financial Inc bought a new stake in shares of ServiceNow during the fourth quarter valued at approximately $28,000. Heck Capital Advisors LLC bought a new stake in shares of ServiceNow during the fourth quarter valued at approximately $37,000. Cassady Schiller Wealth Management LLC raised its stake in shares of 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, WASHINGTON TRUST Co lifted its position in ServiceNow by 620.0% in the first quarter. WASHINGTON TRUST Co now owns 36 shares of the information technology services provider's stock worth $29,000 after purchasing an additional 31 shares during the period. 87.18% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at ServiceNow

In other ServiceNow news, Vice Chairman Nicholas Tzitzon sold 1,171 shares of ServiceNow stock in a transaction dated Friday, May 30th. The stock was sold at an average price of $1,020.00, for a total value of $1,194,420.00. Following the sale, the insider owned 3,000 shares of the company's stock, valued at $3,060,000. This trade represents a 28.07% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO William R. Mcdermott sold 2,050 shares of the stock in a transaction on Friday, May 30th. The shares were sold at an average price of $1,012.01, for a total transaction of $2,074,620.50. Following the completion of the sale, the chief executive officer owned 6,614 shares of the company's stock, valued at approximately $6,693,434.14. This represents a 23.66% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 6,955 shares of company stock valued at $6,862,195. 0.38% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities research analysts have issued reports on NOW shares. Evercore ISI boosted their price target on shares of ServiceNow from $925.00 to $1,000.00 and gave the company an "outperform" rating in a report on Thursday, April 24th. The Goldman Sachs Group reissued a "buy" rating on shares of ServiceNow in a research note on Thursday, April 24th. DA Davidson initiated coverage on shares of ServiceNow in a research note on Wednesday, June 25th. They set a "buy" rating and a $1,150.00 price target for the company. UBS Group reiterated a "buy" rating and issued a $1,025.00 price objective (up from $900.00) on shares of ServiceNow in a research note on Thursday, April 24th. Finally, Wells Fargo & Company increased their target price on ServiceNow from $1,100.00 to $1,150.00 and gave the stock an "overweight" rating in a report on Thursday, April 24th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, thirty-one have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $1,068.23.

ServiceNow Price Performance

NOW opened at $937.12 on Monday. The company has a fifty day moving average price of $1,008.08 and a two-hundred day moving average price of $958.61. The firm has a market capitalization of $193.97 billion, a PE ratio of 127.33, a P/E/G ratio of 4.31 and a beta of 0.94. ServiceNow, Inc. has a 52 week low of $678.66 and a 52 week 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.

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 analysts' consensus estimates of $3.78 by $0.26. ServiceNow had a return on equity of 17.34% and a net margin of 13.41%. The business had revenue of $3.09 billion during the quarter, compared to analysts' expectations of $3.09 billion. During the same period in the previous year, the firm earned $3.41 earnings per share. The firm's quarterly revenue was up 18.6% compared to the same quarter last year. As a group, analysts anticipate 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.

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