IFP Advisors Inc Acquires 2,944 Shares of ServiceNow, Inc. (NYSE:NOW)

IFP Advisors Inc grew its stake in ServiceNow, Inc. (NYSE:NOW - Free Report) by 151.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,893 shares of the information technology services provider's stock after purchasing an additional 2,944 shares during the period. IFP Advisors Inc's holdings in ServiceNow were worth $3,895,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of NOW. GAMMA Investing LLC grew its stake in shares of ServiceNow by 87,501.3% during the first 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 purchasing an additional 2,686,291 shares during the last quarter. Norges Bank acquired a new position in ServiceNow during the 4th quarter worth $2,603,360,000. OVERSEA CHINESE BANKING Corp Ltd boosted its position in ServiceNow by 1,586.5% in the 1st quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 933,209 shares of the information technology services provider's stock valued at $742,965,000 after buying an additional 877,875 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in ServiceNow by 6.8% in 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 last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its stake in shares of ServiceNow by 36.7% in the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 1,830,419 shares of the information technology services provider's stock valued at $1,940,464,000 after buying an additional 491,861 shares during the period. 87.18% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at ServiceNow

In other news, CEO William R. Mcdermott sold 2,050 shares of the business's stock in a transaction that occurred 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 transaction, the chief executive officer owned 6,614 shares in the company, 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 hyperlink. Also, Director Anita M. Sands sold 428 shares of the firm's stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $1,013.61, for a total transaction of $433,825.08. Following the sale, the director owned 10,891 shares of the company's stock, valued at approximately $11,039,226.51. The trade was a 3.78% decrease in their position. The disclosure for this sale can be found here. Insiders sold 6,601 shares of company stock valued at $6,577,363 in the last quarter. 0.38% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on NOW. Wells Fargo & Company increased their price objective on shares of ServiceNow from $1,100.00 to $1,150.00 and gave the company an "overweight" rating in a report on Thursday, April 24th. Raymond James Financial cut their price target on ServiceNow from $1,200.00 to $1,000.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 8th. DA Davidson initiated coverage on ServiceNow in a research note on Wednesday, June 25th. They set a "buy" rating and a $1,150.00 price objective for the company. Jefferies Financial Group dropped their price objective on ServiceNow from $1,250.00 to $1,025.00 and set a "buy" rating for the company in a report on Tuesday, April 15th. Finally, BMO Capital Markets raised their target price on ServiceNow from $1,025.00 to $1,150.00 and gave the stock an "outperform" rating in a report on Wednesday, May 14th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, thirty have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, ServiceNow has an average rating of "Moderate Buy" and an average price target of $1,075.87.

ServiceNow Stock Performance

NYSE NOW opened at $963.43 on Monday. The company has a market cap of $199.41 billion, a P/E ratio of 130.90, a PEG ratio of 4.43 and a beta of 0.94. The company has a fifty day simple moving average of $1,006.53 and a 200 day simple moving average of $955.01. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.15. ServiceNow, Inc. has a 12-month low of $678.66 and a 12-month high of $1,198.09.

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

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.

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