Lmcg Investments LLC Has $12.60 Million Position in ServiceNow, Inc. (NYSE:NOW)

Lmcg Investments LLC lifted its stake in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 13.8% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 15,832 shares of the information technology services provider's stock after buying an additional 1,924 shares during the period. ServiceNow makes up approximately 0.8% of Lmcg Investments LLC's investment portfolio, making the stock its 29th biggest holding. Lmcg Investments LLC's holdings in ServiceNow were worth $12,604,000 at the end of the most recent reporting period.

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

ServiceNow Stock Up 1.3%

NYSE:NOW traded up $13.10 during mid-day trading on Friday, reaching $1,030.70. The stock had a trading volume of 956,231 shares, compared to its average volume of 1,483,042. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.10 and a quick ratio of 1.10. The stock has a market cap of $213.34 billion, a P/E ratio of 150.91, a PEG ratio of 4.51 and a beta of 0.95. The business's 50 day moving average is $915.04 and its 200 day moving average is $974.91. ServiceNow, Inc. has a fifty-two week low of $678.66 and a fifty-two week high of $1,198.09.

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

Insider Buying and Selling at ServiceNow

In other news, Director Anita M. Sands sold 248 shares of the business's stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $1,009.14, for a total transaction of $250,266.72. Following the transaction, the director now owns 10,643 shares in the company, valued at approximately $10,740,277.02. The trade was a 2.28% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO William R. Mcdermott sold 2,050 shares of the stock in a transaction dated Friday, May 30th. The shares were sold at an average price of $1,012.01, for a total transaction of $2,074,620.50. Following the completion of the sale, the chief executive officer now owns 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. Insiders sold 6,716 shares of company stock worth $6,611,245 over the last ninety days. Company insiders own 0.38% of the company's stock.

Analyst Ratings Changes

NOW has been the subject of a number of analyst reports. Mizuho reduced their price target on ServiceNow from $1,210.00 to $1,100.00 and set an "outperform" rating for the company in a report on Tuesday, March 11th. Canaccord Genuity Group decreased their target price on ServiceNow from $1,275.00 to $900.00 and set a "buy" rating on the stock in a research report on Tuesday, April 22nd. Wall Street Zen raised shares of ServiceNow from a "hold" rating to a "buy" rating in a research note on Sunday, June 1st. Morgan Stanley upped their price objective 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, The Goldman Sachs Group reiterated a "buy" rating on shares of ServiceNow in a research report on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, thirty have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $1,062.50.

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.