IRON Financial LLC Buys New Holdings in ServiceNow, Inc. (NYSE:NOW)

IRON Financial LLC acquired a new position in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 945 shares of the information technology services provider's stock, valued at approximately $752,000.

A number of other institutional investors also recently added to or reduced their stakes in NOW. Brighton Jones LLC lifted its position in shares of ServiceNow by 1.1% during the 4th quarter. Brighton Jones LLC now owns 2,753 shares of the information technology services provider's stock valued at $2,919,000 after acquiring an additional 30 shares during the last quarter. Proficio Capital Partners LLC lifted its holdings in shares of ServiceNow by 154,255.3% during the fourth quarter. Proficio Capital Partners LLC now owns 666,815 shares of the information technology services provider's stock valued at $667,000 after purchasing an additional 666,383 shares during the last quarter. Private Trust Co. NA lifted its holdings in shares of ServiceNow by 15.2% during the fourth quarter. Private Trust Co. NA now owns 431 shares of the information technology services provider's stock valued at $457,000 after purchasing an additional 57 shares during the last quarter. SVB Wealth LLC purchased a new stake in shares of ServiceNow during the fourth quarter valued at $1,672,000. Finally, Cobblestone Capital Advisors LLC NY lifted its stake in ServiceNow by 4.7% during the fourth quarter. Cobblestone Capital Advisors LLC NY now owns 353 shares of the information technology services provider's stock valued at $374,000 after buying an additional 16 shares in the last quarter. Institutional investors and hedge funds own 87.18% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on NOW. JMP Securities reissued a "market outperform" rating and issued a $1,300.00 price objective on shares of ServiceNow in a research note on Tuesday, May 6th. Wells Fargo & Company increased their target price on shares of ServiceNow from $1,100.00 to $1,150.00 and gave the stock an "overweight" rating in a research report on Thursday, April 24th. Jefferies Financial Group cut 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. BMO Capital Markets raised their price target on ServiceNow from $1,025.00 to $1,150.00 and gave the stock an "outperform" rating in a research note on Wednesday, May 14th. Finally, Evercore ISI lifted their price target on ServiceNow from $925.00 to $1,000.00 and gave the company an "outperform" rating in a report on Thursday, April 24th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, thirty-one have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $1,068.23.

ServiceNow Stock Down 0.7%

NOW traded down $7.39 during trading hours on Wednesday, hitting $1,004.50. 471,281 shares of the company's stock were exchanged, compared to its average volume of 1,479,792. ServiceNow, Inc. has a 1-year low of $678.66 and a 1-year high of $1,198.09. The stock's 50-day moving average is $995.96 and its two-hundred day moving average is $964.39. The stock has a market cap of $207.91 billion, a price-to-earnings ratio of 136.47, a PEG ratio of 4.72 and a beta of 0.94. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.15.

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

Insider Activity

In related news, Director Jonathan Chadwick sold 770 shares of the stock in a transaction that occurred on Monday, April 28th. The stock was sold at an average price of $931.62, for a total transaction of $717,347.40. Following the completion of the transaction, the director directly owned 3,205 shares of the company's stock, valued at approximately $2,985,842.10. This represents a 19.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO William R. Mcdermott sold 2,050 shares of the stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $1,012.01, for a total value 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 approximately $6,693,434.14. The trade was a 23.66% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 6,716 shares of company stock valued at $6,611,245. Corporate insiders own 0.38% of the company's stock.

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.