Farther Finance Advisors LLC Raises Stock Position in ServiceNow, Inc. (NYSE:NOW)

Farther Finance Advisors LLC grew its stake in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 112.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,171 shares of the information technology services provider's stock after purchasing an additional 3,798 shares during the period. Farther Finance Advisors LLC's holdings in ServiceNow were worth $5,820,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of NOW. Brighton Jones LLC boosted its stake in ServiceNow by 1.1% during the fourth quarter. Brighton Jones LLC now owns 2,753 shares of the information technology services provider's stock worth $2,919,000 after acquiring an additional 30 shares in the last quarter. Union Bancaire Privee UBP SA bought a new stake in ServiceNow during the fourth quarter worth about $48,802,000. Kingsview Wealth Management LLC boosted its stake in ServiceNow by 4.8% during the fourth quarter. Kingsview Wealth Management LLC now owns 2,765 shares of the information technology services provider's stock worth $2,931,000 after acquiring an additional 127 shares in the last quarter. Kestra Private Wealth Services LLC boosted its stake in ServiceNow by 30.1% during the fourth quarter. Kestra Private Wealth Services LLC now owns 4,927 shares of the information technology services provider's stock worth $5,223,000 after acquiring an additional 1,141 shares in the last quarter. Finally, Newbridge Financial Services Group Inc. raised its holdings in ServiceNow by 21.9% in the fourth quarter. Newbridge Financial Services Group Inc. now owns 356 shares of the information technology services provider's stock worth $377,000 after buying an additional 64 shares during the last quarter. Institutional investors own 87.18% of the company's stock.

ServiceNow Stock Down 2.0%

Shares of ServiceNow stock traded down $19.66 on Friday, reaching $987.71. The stock had a trading volume of 1,332,159 shares, compared to its average volume of 1,481,295. The company has a 50 day moving average price of $939.30 and a 200 day moving average price of $974.01. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.15. ServiceNow, Inc. has a 1 year low of $678.66 and a 1 year high of $1,198.09. The stock has a market capitalization of $204.44 billion, a P/E ratio of 144.61, a P/E/G ratio of 4.51 and a beta of 0.95.

ServiceNow (NYSE:NOW - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The information technology services provider reported $4.04 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.78 by $0.26. ServiceNow had a net margin of 12.97% and a return on equity of 17.11%. The firm had revenue of $3.09 billion for the quarter, compared to the consensus estimate of $3.09 billion. During the same quarter in the previous year, the firm earned $3.41 EPS. The company's quarterly revenue was up 18.6% compared to the same quarter last year. As a group, equities research analysts forecast that ServiceNow, Inc. will post 8.93 EPS for the current year.

Insider Buying and Selling

In other ServiceNow news, insider Jacqueline P. Canney sold 66 shares of ServiceNow stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $1,023.00, for a total transaction of $67,518.00. Following the completion of the sale, the insider now directly owns 3,027 shares in the company, valued at approximately $3,096,621. The trade was a 2.13% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Anita M. Sands sold 248 shares of ServiceNow stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $1,009.14, for a total transaction of $250,266.72. Following the sale, the director now owns 10,643 shares of the company's stock, valued at approximately $10,740,277.02. The trade was a 2.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 6,716 shares of company stock worth $6,611,245 in the last three months. Corporate insiders own 0.38% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on NOW. Stifel Nicolaus boosted their price objective on shares of ServiceNow from $975.00 to $1,050.00 and gave the company a "buy" rating in a report on Tuesday, May 6th. Needham & Company LLC reissued a "buy" rating and issued a $1,050.00 price objective on shares of ServiceNow in a research note on Tuesday, May 6th. Piper Sandler dropped their target price on shares of ServiceNow from $1,200.00 to $1,120.00 and set an "overweight" rating for the company in a research report on Thursday, April 24th. Bank of America dropped their target price on shares of ServiceNow from $1,280.00 to $1,025.00 and set a "buy" rating for the company in a research report on Tuesday, April 15th. Finally, Robert W. Baird increased their price objective on shares of ServiceNow from $1,010.00 to $1,150.00 and gave the company an "outperform" rating in a research report on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-nine have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, ServiceNow has a consensus rating of "Moderate Buy" and an average target price 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.