Larson Financial Group LLC Boosts Stock Position in ServiceNow, Inc. (NYSE:NOW)

Larson Financial Group LLC raised its holdings in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 69.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 745 shares of the information technology services provider's stock after buying an additional 305 shares during the quarter. Larson Financial Group LLC's holdings in ServiceNow were worth $593,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Whittier Trust Co. of Nevada Inc. increased its holdings in shares of ServiceNow by 23.1% in the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 39,375 shares of the information technology services provider's stock worth $31,348,000 after buying an additional 7,393 shares during the last quarter. Whittier Trust Co. grew its position in ServiceNow by 20.6% in the first quarter. Whittier Trust Co. now owns 91,942 shares of the information technology services provider's stock worth $73,198,000 after acquiring an additional 15,715 shares in the last quarter. Lord & Richards Wealth Management LLC bought a new position in ServiceNow in the first quarter valued at $244,000. BluePointe Capital Management LLC increased its stake in ServiceNow by 4.1% in the first quarter. BluePointe Capital Management LLC now owns 2,183 shares of the information technology services provider's stock valued at $1,738,000 after acquiring an additional 86 shares during the last quarter. Finally, Graybill Wealth Management LTD. purchased a new stake in ServiceNow during the first quarter valued at about $26,000. 87.18% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Vice Chairman Nicholas Tzitzon sold 1,171 shares of the company's stock in a transaction on Friday, May 30th. The stock was sold at an average price of $1,020.00, for a total value of $1,194,420.00. Following the sale, the insider directly owned 3,000 shares of the company's stock, valued at $3,060,000. This represents a 28.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Anita M. Sands sold 428 shares of the firm's stock in a transaction 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 directly owned 10,891 shares of the company's stock, valued at $11,039,226.51. This represents a 3.78% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 6,601 shares of company stock worth $6,577,363 over the last quarter. Company insiders own 0.38% of the company's stock.

ServiceNow Trading Up 0.4%

Shares of NYSE:NOW traded up $4.28 on Friday, hitting $963.43. The company had a trading volume of 1,153,834 shares, compared to its average volume of 1,486,620. The firm's 50-day simple moving average is $1,006.88 and its two-hundred day simple moving average is $957.08. The firm has a market capitalization of $199.41 billion, a price-to-earnings ratio of 130.90, a P/E/G ratio of 4.41 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, Inc. has a 1 year low of $678.66 and a 1 year 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 EPS for the quarter, topping the consensus estimate of $3.78 by $0.26. ServiceNow had a net margin of 13.41% and a return on equity of 17.34%. The business had revenue of $3.09 billion during the quarter, compared to analyst estimates of $3.09 billion. During the same period last year, the business posted $3.41 earnings per share. ServiceNow's quarterly revenue was up 18.6% compared to the same quarter last year. Equities analysts anticipate that ServiceNow, Inc. will post 8.93 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Royal Bank Of Canada upped their price objective on ServiceNow from $1,060.00 to $1,100.00 and gave the stock an "outperform" rating in a report on Tuesday, May 6th. Bank of America increased their price target on shares of ServiceNow from $1,085.00 to $1,110.00 and gave the company a "buy" rating in a research report on Friday. BMO Capital Markets lifted their price target on shares of ServiceNow from $1,025.00 to $1,150.00 and gave the stock an "outperform" rating in a research note on Wednesday, May 14th. Mizuho upped their price objective on shares of ServiceNow from $1,050.00 to $1,100.00 and gave the company an "outperform" rating in a research note on Thursday, June 12th. Finally, Guggenheim reaffirmed a "sell" rating and set a $724.00 target price on shares of ServiceNow in a report on Thursday. One research analyst has rated the stock with a sell rating, two have issued a hold rating, thirty-one have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, ServiceNow presently has an average rating of "Moderate Buy" and a consensus price target of $1,075.87.

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.