ServiceNow, Inc. $NOW Shares Purchased by Jones Financial Companies Lllp

Key Points

• Jones Financial Companies Lllp increased its stake in ServiceNow, Inc. by 83.8%, acquiring an additional 42,024 shares during the first quarter, bringing its total holdings to 92,169 shares valued at $73,379,000.
• Analyst ratings for ServiceNow include a recent price target increase from Piper Sandler to $1,150, with a consensus rating of "Moderate Buy" and an average price target of $1,115.20.
• Vice Chairman Nicholas Tzitzon and insider Paul Fipps sold significant shares of ServiceNow, reducing their ownership by 36.43% and 76.06%, respectively, amid broader insider activity involving a total of 18,976 shares sold last quarter.

Jones Financial Companies Lllp lifted its position in ServiceNow, Inc. (NYSE:NOW - Free Report) by 83.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 92,169 shares of the information technology services provider's stock after purchasing an additional 42,024 shares during the quarter. Jones Financial Companies Lllp's holdings in ServiceNow were worth $73,379,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of NOW. Brighton Jones LLC raised its stake in shares of ServiceNow by 1.1% in the fourth quarter. Brighton Jones LLC now owns 2,753 shares of the information technology services provider's stock worth $2,919,000 after purchasing an additional 30 shares during the last quarter. Fiduciary Trust Co raised its stake in shares of ServiceNow by 0.4% in the fourth quarter. Fiduciary Trust Co now owns 5,579 shares of the information technology services provider's stock worth $5,914,000 after purchasing an additional 22 shares during the last quarter. Fullerton Fund Management Co Ltd. raised its stake in shares of ServiceNow by 35.1% in the fourth quarter. Fullerton Fund Management Co Ltd. now owns 654 shares of the information technology services provider's stock worth $693,000 after purchasing an additional 170 shares during the last quarter. Focus Partners Wealth raised its stake in shares of ServiceNow by 139.4% in the fourth quarter. Focus Partners Wealth now owns 125,127 shares of the information technology services provider's stock worth $135,358,000 after purchasing an additional 72,860 shares during the last quarter. Finally, Guardian Wealth Advisors LLC NC purchased a new position in shares of ServiceNow in the fourth quarter worth about $279,000. 87.18% of the stock is currently owned by hedge funds and other institutional investors.

ServiceNow Price Performance

NOW traded up $26.25 during trading on Monday, hitting $940.05. The company's stock had a trading volume of 1,635,738 shares, compared to its average volume of 1,771,618. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.14. ServiceNow, Inc. has a twelve month low of $678.66 and a twelve month high of $1,198.09. The business's fifty day simple moving average is $935.00 and its 200 day simple moving average is $922.21. The firm has a market capitalization of $195.53 billion, a price-to-earnings ratio of 118.39, a P/E/G ratio of 4.12 and a beta of 0.91.

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

Analyst Ratings Changes

NOW has been the topic of several analyst reports. JMP Securities reaffirmed a "market outperform" rating and set a $1,300.00 target price on shares of ServiceNow in a report on Monday, August 4th. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $1,200.00 target price on shares of ServiceNow in a report on Thursday, July 24th. UBS Group dropped their target price on ServiceNow from $1,125.00 to $1,100.00 and set a "buy" rating on the stock in a report on Thursday, July 24th. Piper Sandler raised their target price on ServiceNow from $1,120.00 to $1,150.00 and gave the stock an "overweight" rating in a report on Thursday, July 24th. Finally, Oppenheimer reaffirmed an "outperform" rating and set a $1,150.00 target price (up from $1,100.00) on shares of ServiceNow in a report on Thursday, July 24th. One analyst has rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $1,115.20.

Insider Buying and Selling

In other news, Director Anita M. Sands sold 1,097 shares of ServiceNow stock in a transaction that occurred on Friday, August 29th. The stock was sold at an average price of $915.11, for a total value of $1,003,875.67. Following the sale, the director directly owned 9,307 shares of the company's stock, valued at $8,516,928.77. The trade was a 10.54% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO William R. Mcdermott sold 5,825 shares of ServiceNow stock in a transaction that occurred on Thursday, August 28th. The stock was sold at an average price of $916.63, for a total value of $5,339,369.75. Following the completion of the sale, the chief executive officer directly owned 6,614 shares in the company, valued at $6,062,590.82. This represents a 46.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 18,976 shares of company stock valued at $17,049,775 in the last 90 days. Corporate insiders own 0.38% of the company's stock.

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.