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Founders Financial Alliance LLC Takes Position in ServiceNow, Inc. (NYSE:NOW)

ServiceNow logo with Computer and Technology background

Key Points

  • Founders Financial Alliance LLC made a new investment of approximately $407,000 in ServiceNow, acquiring 511 shares of the company in the first quarter.
  • Analysts have raised their price targets for ServiceNow, with Robert W. Baird increasing it from $1,010 to $1,150, and Wells Fargo raising it further to $1,225.
  • Insider Jacqueline P. Canney sold 145 shares at an average price of $1,020, while CEO William R. Mcdermott sold 2,050 shares at an average price of $1,012.01, indicating a significant decrease in their holdings.
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Founders Financial Alliance LLC bought a new stake in ServiceNow, Inc. (NYSE:NOW - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 511 shares of the information technology services provider's stock, valued at approximately $407,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Janus Henderson Group PLC grew its position in ServiceNow by 1.5% during the fourth quarter. Janus Henderson Group PLC now owns 824,725 shares of the information technology services provider's stock valued at $874,258,000 after buying an additional 12,533 shares during the period. Parr Mcknight Wealth Management Group LLC bought a new position in ServiceNow during the first quarter worth about $1,820,000. ASR Vermogensbeheer N.V. purchased a new stake in shares of ServiceNow in the first quarter worth about $19,278,000. Nicholas Investment Partners LP boosted its position in shares of ServiceNow by 223.5% in the fourth quarter. Nicholas Investment Partners LP now owns 2,805 shares of the information technology services provider's stock valued at $2,974,000 after acquiring an additional 1,938 shares during the period. Finally, Goldman Sachs Group Inc. boosted its position in shares of ServiceNow by 131.4% in the first quarter. Goldman Sachs Group Inc. now owns 1,480,526 shares of the information technology services provider's stock valued at $1,178,706,000 after acquiring an additional 840,731 shares during the period. Hedge funds and other institutional investors own 87.18% of the company's stock.

ServiceNow Price Performance

NOW stock traded down $16.56 during midday trading on Monday, hitting $855.95. The company's stock had a trading volume of 2,368,911 shares, compared to its average volume of 1,652,977. ServiceNow, Inc. has a 12 month low of $678.66 and a 12 month high of $1,198.09. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.14. The firm has a market capitalization of $178.04 billion, a price-to-earnings ratio of 107.80, a price-to-earnings-growth ratio of 3.93 and a beta of 0.93. The company has a 50 day moving average of $982.92 and a two-hundred day moving average of $942.17.

ServiceNow (NYSE:NOW - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The information technology services provider reported $4.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.57 by $0.52. The business had revenue of $3.22 billion for the quarter, compared to analysts' expectations of $3.12 billion. ServiceNow had a return on equity of 18.04% and a net margin of 13.78%. The company's revenue for the quarter was up 22.4% on a year-over-year basis. During the same period in the prior year, the firm earned $3.13 EPS. On average, analysts expect that ServiceNow, Inc. will post 8.93 EPS for the current year.

Insider Buying and Selling at ServiceNow

In related news, Director Anita M. Sands sold 239 shares of the stock in a transaction on Thursday, July 3rd. The stock was sold at an average price of $1,050.00, for a total transaction of $250,950.00. Following the sale, the director owned 10,404 shares in the company, valued at approximately $10,924,200. This represents a 2.25% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Vice Chairman Nicholas Tzitzon sold 1,171 shares of the stock in a transaction 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 owned 3,000 shares in the company, valued at $3,060,000. The trade was a 28.07% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 5,799 shares of company stock worth $5,800,903. Company insiders own 0.38% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on NOW shares. Barclays set a $1,210.00 target price on shares of ServiceNow in a research note on Thursday, July 24th. Sanford C. Bernstein restated an "outperform" rating and issued a $1,003.00 target price on shares of ServiceNow in a report on Thursday, April 24th. TD Securities reiterated a "buy" rating and issued a $1,100.00 price target on shares of ServiceNow in a report on Thursday, April 24th. DA Davidson boosted their target price on shares of ServiceNow from $1,150.00 to $1,250.00 and gave the company a "buy" rating in a report on Thursday, July 24th. Finally, The Goldman Sachs Group reaffirmed a "buy" rating on shares of ServiceNow in a research report on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, thirty have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, ServiceNow presently has a consensus rating of "Moderate Buy" and an average target price of $1,115.20.

Get Our Latest Research Report on ServiceNow

About ServiceNow

(Free Report)

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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Institutional Ownership by Quarter for ServiceNow (NYSE:NOW)

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