Jacobs & Co. CA Purchases 806 Shares of ServiceNow, Inc. (NYSE:NOW)

Jacobs & Co. CA increased its stake in ServiceNow, Inc. (NYSE:NOW - Free Report) by 9.3% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,492 shares of the information technology services provider's stock after acquiring an additional 806 shares during the quarter. Jacobs & Co. CA's holdings in ServiceNow were worth $7,556,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Quarry LP bought a new stake in shares of ServiceNow during the fourth quarter worth about $27,000. Atala Financial Inc bought a new stake in ServiceNow in the 4th quarter worth about $28,000. LFA Lugano Financial Advisors SA bought a new stake in ServiceNow in the 4th quarter worth about $32,000. FPC Investment Advisory Inc. grew its stake in ServiceNow by 725.0% in the 4th quarter. FPC Investment Advisory Inc. now owns 33 shares of the information technology services provider's stock valued at $34,000 after purchasing an additional 29 shares during the period. Finally, Noble Wealth Management PBC bought a new position in ServiceNow during the fourth quarter valued at about $34,000. 87.18% of the stock is owned by institutional investors.

ServiceNow Price Performance

Shares of NOW stock traded down $3.43 during trading on Friday, hitting $1,011.80. The company had a trading volume of 2,663,194 shares, compared to its average volume of 1,516,529. The stock has a market capitalization of $209.43 billion, a price-to-earnings ratio of 148.14, a price-to-earnings-growth ratio of 4.51 and a beta of 0.97. ServiceNow, Inc. has a 52 week low of $637.99 and a 52 week high of $1,198.09. The stock's 50-day moving average is $899.20 and its two-hundred day moving average is $975.24. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.15.

ServiceNow (NYSE:NOW - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The information technology services provider reported $4.04 EPS for the quarter, topping the consensus estimate of $3.78 by $0.26. The firm had revenue of $3.09 billion for the quarter, compared to the consensus estimate of $3.09 billion. ServiceNow had a net margin of 12.97% and a return on equity of 17.11%. The business's revenue was up 18.6% compared to the same quarter last year. During the same period last year, the firm posted $3.41 earnings per share. As a group, analysts predict that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Sanford C. Bernstein reissued an "outperform" rating and set a $1,003.00 price objective on shares of ServiceNow in a report on Thursday, April 24th. JPMorgan Chase & Co. cut their price target 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. Barclays set a $1,085.00 target price on shares of ServiceNow in a research report on Wednesday, May 7th. Morgan Stanley increased their target price on shares of ServiceNow from $881.00 to $950.00 and gave the stock an "equal weight" rating in a research report on Thursday, April 24th. Finally, Bank of America cut their price objective on shares of ServiceNow from $1,280.00 to $1,025.00 and set a "buy" rating for the company in a report on Tuesday, April 15th. One analyst has rated the stock with a sell rating, three have given a hold rating, twenty-nine have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, ServiceNow currently has a consensus rating of "Moderate Buy" and a consensus price target of $1,062.50.

Insiders Place Their Bets

In other news, Director Anita M. Sands sold 428 shares of the firm's stock in a transaction that occurred on 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 transaction, the director now owns 10,891 shares in the company, valued at approximately $11,039,226.51. This trade represents a 3.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jacqueline P. Canney sold 354 shares of the firm's stock in a transaction that occurred on Wednesday, April 16th. The stock was sold at an average price of $804.61, for a total transaction of $284,831.94. Following the completion of the transaction, the insider now owns 3,027 shares in the company, valued at $2,435,554.47. This represents a 10.47% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 3,102 shares of company stock valued at $2,944,038. 0.38% of the stock is currently owned by corporate insiders.

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.