ServiceNow, Inc. (NYSE:NOW) Shares Purchased by Northeast Investment Management

Northeast Investment Management grew its position in ServiceNow, Inc. (NYSE:NOW - Free Report) by 15.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 26,428 shares of the information technology services provider's stock after purchasing an additional 3,443 shares during the quarter. Northeast Investment Management's holdings in ServiceNow were worth $21,040,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Quarry LP acquired a new stake in shares of ServiceNow in the 4th quarter valued at $27,000. Atala Financial Inc acquired a new stake in shares of ServiceNow in the 4th quarter valued at $28,000. LFA Lugano Financial Advisors SA acquired a new stake in shares of ServiceNow in the 4th quarter valued at $32,000. Noble Wealth Management PBC acquired a new stake in shares of ServiceNow in the 4th quarter valued at $34,000. Finally, FPC Investment Advisory Inc. raised its holdings in shares of 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 in the last quarter. 87.18% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at ServiceNow

In related news, Vice Chairman Nicholas Tzitzon sold 1,171 shares of the company's stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $1,020.00, for a total transaction of $1,194,420.00. Following the completion of the transaction, the insider now owns 3,000 shares of the company's stock, valued at approximately $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 SEC, which is accessible through this hyperlink. Also, Director Anita M. Sands sold 428 shares of the company's stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $1,013.61, for a total transaction of $433,825.08. Following the transaction, the director now directly owns 10,891 shares of the company's stock, valued at $11,039,226.51. This trade represents a 3.78% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 6,716 shares of company stock worth $6,611,245 over the last ninety days. 0.38% of the stock is currently owned by corporate insiders.

ServiceNow Trading Up 0.2%

Shares of NYSE NOW traded up $1.70 during midday trading on Thursday, reaching $1,006.03. 846,899 shares of the stock were exchanged, compared to its average volume of 1,480,445. The company has a market capitalization of $208.23 billion, a P/E ratio of 147.30, a P/E/G ratio of 4.51 and a beta of 0.95. ServiceNow, Inc. has a 52-week low of $678.66 and a 52-week high of $1,198.09. 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 stock has a 50 day moving average price of $939.30 and a 200-day moving average price of $974.01.

ServiceNow (NYSE:NOW - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The information technology services provider reported $4.04 EPS for the quarter, topping analysts' consensus estimates of $3.78 by $0.26. The business had revenue of $3.09 billion during 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 company's quarterly revenue was up 18.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.41 earnings per share. Equities research analysts expect that ServiceNow, Inc. will post 8.93 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

NOW has been the topic of a number of analyst reports. Citigroup raised their price objective on shares of ServiceNow from $1,128.00 to $1,160.00 and gave the company a "buy" rating in a report on Wednesday, May 7th. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $1,048.00 target price on shares of ServiceNow in a research report on Thursday, April 24th. Robert W. Baird increased their target price on shares of ServiceNow from $1,010.00 to $1,150.00 and gave the company an "outperform" rating in a research report on Thursday, April 24th. Oppenheimer reaffirmed an "outperform" rating and issued a $1,100.00 target price (up from $970.00) on shares of ServiceNow in a research report on Tuesday, May 6th. Finally, Bank of America dropped 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 report on Tuesday, April 15th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-nine have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price 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.