ServiceNow, Inc. (NYSE:NOW) Shares Purchased by Global Assets Advisory LLC

Global Assets Advisory LLC raised its stake in ServiceNow, Inc. (NYSE:NOW - Free Report) by 144.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,128 shares of the information technology services provider's stock after purchasing an additional 1,258 shares during the quarter. Global Assets Advisory LLC's holdings in ServiceNow were worth $1,680,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of NOW. Quarry LP purchased a new stake in ServiceNow during the 4th quarter worth approximately $27,000. Atala Financial Inc bought a new stake in shares of ServiceNow in the fourth quarter worth $28,000. LFA Lugano Financial Advisors SA bought a new position in ServiceNow during the 4th quarter valued at $32,000. Noble Wealth Management PBC acquired a new position in ServiceNow during the 4th quarter worth $34,000. Finally, Heck Capital Advisors LLC acquired a new position in ServiceNow during the 4th quarter worth $37,000. Institutional investors and hedge funds own 87.18% of the company's stock.

ServiceNow Stock Performance

NOW stock traded up $7.57 during trading on Thursday, reaching $1,012.73. 1,202,641 shares of the company's stock were exchanged, compared to its average volume of 1,482,813. ServiceNow, Inc. has a 1-year low of $678.66 and a 1-year high of $1,198.09. The firm has a market cap of $209.62 billion, a PE ratio of 137.60, a P/E/G ratio of 4.58 and a beta of 0.95. The company's fifty day moving average price is $975.77 and its 200-day moving average price is $968.70. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.15.

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 for the quarter, topping the consensus estimate of $3.78 by $0.26. The business had revenue of $3.09 billion during the quarter, compared to the consensus estimate of $3.09 billion. ServiceNow had a net margin of 13.41% and a return on equity of 17.34%. The company's quarterly revenue was up 18.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $3.41 earnings per share. On average, research analysts expect that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

Insider Transactions at ServiceNow

In other news, CEO William R. Mcdermott sold 2,050 shares of the business's stock in a transaction on Friday, May 30th. The stock was sold at an average price of $1,012.01, for a total value of $2,074,620.50. Following the sale, the chief executive officer now owns 6,614 shares of the company's stock, valued at approximately $6,693,434.14. The trade was a 23.66% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Anita M. Sands sold 428 shares of the company's stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $1,013.61, for a total value of $433,825.08. Following the completion of the sale, the director now owns 10,891 shares of the company's stock, valued at approximately $11,039,226.51. This trade represents a 3.78% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 6,716 shares of company stock valued at $6,611,245. Company insiders own 0.38% of the company's stock.

Wall Street Analyst Weigh In

NOW has been the topic of a number of recent analyst reports. Evercore ISI upped their target price on shares of ServiceNow from $925.00 to $1,000.00 and gave the company an "outperform" rating in a research note on Thursday, April 24th. DA Davidson started coverage on ServiceNow in a research note on Wednesday. They set a "buy" rating and a $1,150.00 price objective on the stock. Canaccord Genuity Group decreased their target price on ServiceNow from $1,275.00 to $900.00 and set a "buy" rating for the company in a research report on Tuesday, April 22nd. Citigroup upped their price target on ServiceNow from $1,128.00 to $1,160.00 and gave the company a "buy" rating in a research report on Wednesday, May 7th. Finally, Bank of America reduced their price objective on ServiceNow from $1,280.00 to $1,025.00 and set a "buy" rating on the stock in a research note on Tuesday, April 15th. One analyst has rated the stock with a sell rating, three have given a hold rating, thirty have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $1,065.32.

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.