Great Lakes Retirement Inc. Acquires 1,658 Shares of ServiceNow, Inc. (NYSE:NOW)

Great Lakes Retirement Inc. increased its stake in ServiceNow, Inc. (NYSE:NOW - Free Report) by 172.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,620 shares of the information technology services provider's stock after purchasing an additional 1,658 shares during the period. Great Lakes Retirement Inc.'s holdings in ServiceNow were worth $2,086,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Adero Partners LLC grew its holdings in ServiceNow by 0.4% during the 1st quarter. Adero Partners LLC now owns 3,458 shares of the information technology services provider's stock worth $2,753,000 after acquiring an additional 13 shares during the period. Sowell Financial Services LLC acquired a new stake in shares of ServiceNow during the first quarter worth $1,370,000. Montecito Bank & Trust increased its holdings in ServiceNow by 9.2% in the first quarter. Montecito Bank & Trust now owns 631 shares of the information technology services provider's stock valued at $502,000 after purchasing an additional 53 shares during the last quarter. Janney Montgomery Scott LLC lifted its stake in ServiceNow by 3.9% in the first quarter. Janney Montgomery Scott LLC now owns 56,366 shares of the information technology services provider's stock valued at $44,875,000 after buying an additional 2,132 shares during the period. Finally, Hanson & Doremus Investment Management lifted its stake in ServiceNow by 7.7% in the first quarter. Hanson & Doremus Investment Management now owns 460 shares of the information technology services provider's stock valued at $366,000 after buying an additional 33 shares during the period. Institutional investors and hedge funds own 87.18% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Redburn Atlantic assumed coverage on ServiceNow in a research note on Wednesday, February 19th. They issued a "buy" rating for the company. Royal Bank of Canada lifted their price target on shares of ServiceNow from $1,060.00 to $1,100.00 and gave the stock an "outperform" rating in a research report on Tuesday, May 6th. Sanford C. Bernstein restated an "outperform" rating and issued a $1,003.00 price objective on shares of ServiceNow in a research report on Thursday, April 24th. Morgan Stanley boosted their target price on ServiceNow from $881.00 to $950.00 and gave the company an "equal weight" rating in a research note on Thursday, April 24th. Finally, William Blair reaffirmed an "outperform" rating on shares of ServiceNow in a research report on Friday, March 7th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, twenty-nine have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $1,062.50.

Insider Activity

In related news, Vice Chairman Nicholas Tzitzon sold 1,171 shares of the business's stock in a transaction on Friday, May 30th. The stock was sold at an average price of $1,020.00, for a total transaction of $1,194,420.00. Following the sale, the insider now owns 3,000 shares in the company, valued at $3,060,000. The trade was a 28.07% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO William R. Mcdermott sold 2,050 shares of the company's stock in a transaction dated 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 completion of the transaction, the chief executive officer now directly 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 disclosure for this sale can be found here. Over the last ninety days, insiders sold 6,716 shares of company stock worth $6,611,245. Corporate insiders own 0.38% of the company's stock.

ServiceNow Stock Performance

Shares of NYSE:NOW traded up $16.61 on Monday, hitting $1,005.27. The company had a trading volume of 1,229,665 shares, compared to its average volume of 1,482,386. The stock has a market cap of $208.07 billion, a price-to-earnings ratio of 147.19, a P/E/G ratio of 4.51 and a beta of 0.95. The company has a current ratio of 1.10, a quick 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 50 day moving average price of $944.56 and a 200 day moving average price of $972.50.

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 firm had revenue of $3.09 billion for the quarter, compared to analysts' expectations of $3.09 billion. ServiceNow had a return on equity of 17.11% and a net margin of 12.97%. The company's quarterly revenue was up 18.6% compared to the same quarter last year. During the same quarter last year, the business earned $3.41 EPS. Analysts expect that ServiceNow, Inc. will post 8.93 EPS for the current year.

About ServiceNow

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.