Harmony Asset Management LLC Acquires 509 Shares of ServiceNow, Inc. (NYSE:NOW)

Harmony Asset Management LLC increased its position in ServiceNow, Inc. (NYSE:NOW - Free Report) by 101.8% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 1,009 shares of the information technology services provider's stock after purchasing an additional 509 shares during the period. Harmony Asset Management LLC's holdings in ServiceNow were worth $803,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in shares of ServiceNow by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 19,199,258 shares of the information technology services provider's stock valued at $20,353,517,000 after buying an additional 190,430 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in shares of ServiceNow by 6.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 7,955,924 shares of the information technology services provider's stock valued at $8,434,235,000 after buying an additional 509,467 shares during the period. FMR LLC boosted its stake in shares of ServiceNow by 4.9% during the 4th quarter. FMR LLC now owns 5,878,900 shares of the information technology services provider's stock valued at $6,232,339,000 after buying an additional 272,506 shares during the period. Geode Capital Management LLC boosted its stake in shares of ServiceNow by 2.4% during the 4th quarter. Geode Capital Management LLC now owns 4,312,571 shares of the information technology services provider's stock valued at $4,560,890,000 after buying an additional 100,670 shares during the period. Finally, GAMMA Investing LLC boosted its stake in shares of ServiceNow by 87,501.3% during the 1st quarter. GAMMA Investing LLC now owns 2,689,361 shares of the information technology services provider's stock valued at $2,141,108,000 after buying an additional 2,686,291 shares during the period. Institutional investors and hedge funds own 87.18% of the company's stock.

Insider Buying and Selling at ServiceNow

In other news, General Counsel Russell S. Elmer sold 62 shares of the 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 $63,426.00. Following the sale, the general counsel directly owned 4,332 shares of the company's stock, valued at $4,431,636. This represents a 1.41% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Anita M. Sands sold 239 shares of the stock in a transaction that occurred on Thursday, July 3rd. The shares were sold at an average price of $1,050.00, for a total transaction of $250,950.00. Following the sale, the director directly owned 10,404 shares in the company, valued at $10,924,200. This trade represents a 2.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 6,955 shares of company stock valued at $6,862,195 over the last three months. Insiders own 0.38% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on NOW shares. Jefferies Financial Group decreased their target price on shares of ServiceNow from $1,250.00 to $1,025.00 and set a "buy" rating for the company in a research note on Tuesday, April 15th. Wall Street Zen lowered shares of ServiceNow from a "buy" rating to a "hold" rating in a research report on Saturday, July 5th. Evercore ISI boosted their target price on shares of ServiceNow from $925.00 to $1,000.00 and gave the stock an "outperform" rating in a research report on Thursday, April 24th. Morgan Stanley restated an "equal weight" rating on shares of ServiceNow in a report on Tuesday. Finally, Barclays set a $1,085.00 price objective on shares of ServiceNow in a report on Wednesday, May 7th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, thirty have given a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $1,068.23.

ServiceNow Price Performance

ServiceNow stock traded down $30.97 during trading hours on Friday, hitting $937.12. 2,144,933 shares of the stock were exchanged, compared to its average volume of 1,483,800. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.12 and a current ratio of 1.12. The stock has a market capitalization of $193.97 billion, a P/E ratio of 127.33, a P/E/G ratio of 4.45 and a beta of 0.94. ServiceNow, Inc. has a 12 month low of $678.66 and a 12 month high of $1,198.09. The business's 50-day moving average is $1,008.08 and its two-hundred day moving average is $960.59.

ServiceNow (NYSE:NOW - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The information technology services provider reported $4.04 EPS for the quarter, beating the consensus estimate of $3.78 by $0.26. ServiceNow had a net margin of 13.41% and a return on equity of 17.34%. The business had revenue of $3.09 billion for the quarter, compared to analysts' expectations of $3.09 billion. During the same period in the prior year, the firm earned $3.41 earnings per share. ServiceNow's revenue was up 18.6% compared to the same quarter last year. Equities research analysts expect that ServiceNow, Inc. will post 8.93 EPS for the current fiscal 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.