Independent Advisor Alliance Acquires 1,275 Shares of ServiceNow, Inc. (NYSE:NOW)

Independent Advisor Alliance boosted its position in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 15.5% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,492 shares of the information technology services provider's stock after buying an additional 1,275 shares during the period. Independent Advisor Alliance's holdings in ServiceNow were worth $7,557,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of NOW. Quarry LP acquired a new stake in ServiceNow during the 4th quarter worth approximately $27,000. Bogart Wealth LLC increased its stake in shares of ServiceNow by 113.3% in the 1st quarter. Bogart Wealth LLC now owns 32 shares of the information technology services provider's stock valued at $25,000 after acquiring an additional 17 shares in the last quarter. Graybill Wealth Management LTD. bought a new stake in shares of ServiceNow in the 1st quarter valued at $26,000. Heck Capital Advisors LLC bought a new stake in shares of ServiceNow in the 4th quarter valued at $37,000. Finally, WASHINGTON TRUST Co increased its stake in ServiceNow by 620.0% during the 1st quarter. WASHINGTON TRUST Co now owns 36 shares of the information technology services provider's stock valued at $29,000 after purchasing an additional 31 shares in the last quarter. 87.18% of the stock is currently owned by institutional investors and hedge funds.

ServiceNow Stock Down 0.3%

Shares of ServiceNow stock opened at $871.70 on Monday. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.14. The business has a 50-day moving average price of $982.92 and a 200 day moving average price of $942.17. ServiceNow, Inc. has a fifty-two week low of $678.66 and a fifty-two week high of $1,198.09. The firm has a market cap of $181.31 billion, a P/E ratio of 109.79, a P/E/G ratio of 3.93 and a beta of 0.93.

ServiceNow (NYSE:NOW - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The information technology services provider reported $4.09 EPS for the quarter, topping the consensus estimate of $3.57 by $0.52. The firm had revenue of $3.22 billion for the quarter, compared to analysts' expectations of $3.12 billion. ServiceNow had a return on equity of 18.04% and a net margin of 13.78%. The firm's quarterly revenue was up 22.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.13 earnings per share. On average, sell-side analysts forecast that ServiceNow, Inc. will post 8.93 earnings per share for the current fiscal year.

Insider Activity

In other ServiceNow news, insider Jacqueline P. Canney sold 145 shares of the company's stock in a transaction dated Friday, May 30th. The shares were sold at an average price of $1,020.00, for a total transaction of $147,900.00. Following the completion of the sale, the insider directly owned 3,027 shares in the company, valued at $3,087,540. This represents a 4.57% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Anita M. Sands sold 428 shares of the firm's stock in a transaction dated 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 directly owned 10,891 shares in the company, valued at approximately $11,039,226.51. This represents a 3.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 5,250 shares of company stock valued at $5,318,667. Corporate insiders own 0.38% of the company's stock.

Analysts Set New Price Targets

A number of research firms have issued reports on NOW. Piper Sandler lifted their price objective on shares of ServiceNow from $1,120.00 to $1,150.00 and gave the stock an "overweight" rating in a report on Thursday, July 24th. TD Securities reiterated a "buy" rating and set a $1,100.00 price target on shares of ServiceNow in a research report on Thursday, April 24th. Guggenheim restated a "sell" rating and issued a $724.00 price objective on shares of ServiceNow in a research report on Thursday, July 17th. JMP Securities reaffirmed a "market outperform" rating and issued a $1,300.00 target price on shares of ServiceNow in a research note on Monday, August 4th. Finally, Scotiabank set a $1,100.00 price objective on ServiceNow and gave the company an "outperform" rating in a research note on Wednesday, May 7th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, thirty have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $1,115.20.

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.

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