ServiceNow, Inc. (NYSE:NOW) is Hartline Investment Corp's 9th Largest Position

Hartline Investment Corp lifted its stake in ServiceNow, Inc. (NYSE:NOW - Free Report) by 11.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 28,785 shares of the information technology services provider's stock after purchasing an additional 2,985 shares during the quarter. ServiceNow comprises about 3.0% of Hartline Investment Corp's holdings, making the stock its 9th largest holding. Hartline Investment Corp's holdings in ServiceNow were worth $22,917,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Quarry LP acquired a new stake in shares of ServiceNow in the fourth quarter valued at approximately $27,000. Atala Financial Inc acquired a new stake in shares of ServiceNow in the fourth quarter valued at approximately $28,000. LFA Lugano Financial Advisors SA acquired a new stake in ServiceNow during the fourth quarter worth $32,000. Heck Capital Advisors LLC acquired a new stake in ServiceNow during the fourth quarter worth $37,000. Finally, Cassady Schiller Wealth Management LLC increased its stake in ServiceNow by 44.0% during the fourth quarter. Cassady Schiller Wealth Management LLC now owns 36 shares of the information technology services provider's stock worth $38,000 after acquiring an additional 11 shares during the last quarter. Institutional investors and hedge funds own 87.18% of the company's stock.

Insider Activity at ServiceNow

In other ServiceNow news, CEO William R. Mcdermott sold 2,050 shares of ServiceNow stock in a transaction dated Friday, May 30th. The stock was sold at an average price of $1,012.01, for a total transaction of $2,074,620.50. Following the completion of the sale, the chief executive officer directly owned 6,614 shares of the company's stock, valued at $6,693,434.14. The trade was a 23.66% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Jacqueline P. Canney sold 145 shares of ServiceNow stock in a transaction dated Friday, May 30th. The stock was sold at an average price of $1,020.00, for a total value of $147,900.00. Following the sale, the insider directly owned 3,027 shares of the company's stock, valued at $3,087,540. This trade represents a 4.57% 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 over the last three months. Company insiders own 0.38% of the company's stock.

ServiceNow Stock Up 3.6%

NYSE NOW traded up $36.27 during trading on Friday, reaching $1,046.03. 1,205,886 shares of the company's stock were exchanged, compared to its average volume of 1,486,285. The stock has a market cap of $216.51 billion, a P/E ratio of 142.12, a price-to-earnings-growth ratio of 4.80 and a beta of 0.94. 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 company has a 50 day moving average price of $1,003.94 and a two-hundred day moving average price of $963.64. ServiceNow, Inc. has a 1 year low of $678.66 and a 1 year high of $1,198.09.

ServiceNow (NYSE:NOW - Get Free Report) last announced its quarterly earnings results 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. The company had revenue of $3.09 billion during the quarter, compared to the consensus estimate of $3.09 billion. ServiceNow had a return on equity of 17.34% and a net margin of 13.41%. ServiceNow's revenue for the quarter was up 18.6% on a year-over-year basis. During the same period in the previous year, the business earned $3.41 EPS. On average, equities research analysts anticipate that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

NOW has been the subject of several recent analyst reports. Robert W. Baird raised their target price on ServiceNow from $1,010.00 to $1,150.00 and gave the stock an "outperform" rating in a research note on Thursday, April 24th. Bank of America cut their target price on ServiceNow from $1,280.00 to $1,025.00 and set a "buy" rating for the company in a research note on Tuesday, April 15th. Scotiabank set a $1,100.00 target price on ServiceNow and gave the stock an "outperform" rating in a research note on Wednesday, May 7th. JPMorgan Chase & Co. cut their target price on ServiceNow from $1,200.00 to $970.00 and set an "overweight" rating for the company in a research note on Tuesday, April 22nd. Finally, The Goldman Sachs Group reissued a "buy" rating on shares of ServiceNow in a research note on Thursday, April 24th. One 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 assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $1,068.23.

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.