Marcum Wealth LLC Boosts Holdings in ServiceNow, Inc. (NYSE:NOW)

Marcum Wealth LLC raised its position in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 45.3% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 988 shares of the information technology services provider's stock after purchasing an additional 308 shares during the quarter. Marcum Wealth LLC's holdings in ServiceNow were worth $787,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in NOW. Vanguard Group Inc. boosted its holdings in ServiceNow by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 19,199,258 shares of the information technology services provider's stock valued at $20,353,517,000 after purchasing an additional 190,430 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of ServiceNow by 6.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 7,955,924 shares of the information technology services provider's stock worth $8,434,235,000 after buying an additional 509,467 shares during the last quarter. FMR LLC boosted its position in ServiceNow by 4.9% in the 4th quarter. FMR LLC now owns 5,878,900 shares of the information technology services provider's stock worth $6,232,339,000 after purchasing an additional 272,506 shares in the last quarter. Geode Capital Management LLC boosted its position in ServiceNow by 2.4% in the 4th quarter. Geode Capital Management LLC now owns 4,312,571 shares of the information technology services provider's stock worth $4,560,890,000 after purchasing an additional 100,670 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in ServiceNow by 3.4% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,654,825 shares of the information technology services provider's stock worth $2,814,433,000 after purchasing an additional 87,876 shares in the last quarter. Hedge funds and other institutional investors own 87.18% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have commented on NOW shares. BMO Capital Markets upped their price objective on ServiceNow from $1,025.00 to $1,150.00 and gave the stock an "outperform" rating in a research report on Wednesday, May 14th. Scotiabank set a $1,100.00 price target on shares of ServiceNow and gave the stock an "outperform" rating in a report on Wednesday, May 7th. Piper Sandler lowered their target price on shares of ServiceNow from $1,200.00 to $1,120.00 and set an "overweight" rating on the stock in a research note on Thursday, April 24th. Bank of America lowered their target price on shares of ServiceNow from $1,280.00 to $1,025.00 and set a "buy" rating on the stock in a research note on Tuesday, April 15th. Finally, JPMorgan Chase & Co. lowered their target price on shares of ServiceNow from $1,200.00 to $970.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 22nd. One analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-nine have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $1,062.50.

Insider Buying and Selling

In other ServiceNow news, Director Anita M. Sands sold 428 shares of the 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 sale, the director now directly owns 10,891 shares of the company's stock, valued at approximately $11,039,226.51. This represents a 3.78% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Jonathan Chadwick sold 770 shares of the stock in a transaction on Monday, April 28th. The shares were sold at an average price of $931.62, for a total value of $717,347.40. Following the completion of the transaction, the director now directly owns 3,205 shares in the company, valued at $2,985,842.10. This trade represents a 19.37% 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 worth $2,944,038. Company insiders own 0.38% of the company's stock.

ServiceNow Stock Down 0.3%

NOW traded down $3.43 during trading hours on Friday, hitting $1,011.80. 2,663,194 shares of the company's stock were exchanged, compared to its average volume of 1,505,352. ServiceNow, Inc. has a 12-month low of $645.45 and a 12-month high of $1,198.09. The firm has a 50 day moving average of $899.20 and a 200 day moving average of $975.24. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.15. The firm has a market cap of $209.43 billion, a P/E ratio of 148.14, a price-to-earnings-growth ratio of 4.51 and a beta of 0.97.

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

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.