Oak Thistle LLC Purchases 1,564 Shares of ServiceNow, Inc. (NYSE:NOW)

Oak Thistle LLC boosted its stake in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 762.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,769 shares of the information technology services provider's stock after buying an additional 1,564 shares during the quarter. Oak Thistle LLC's holdings in ServiceNow were worth $1,408,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Teramo Advisors LLC acquired a new stake in shares of ServiceNow in the first quarter valued at approximately $208,000. Sustainable Growth Advisers LP grew its position in shares of ServiceNow by 96.7% in the first quarter. Sustainable Growth Advisers LP now owns 723,457 shares of the information technology services provider's stock valued at $575,973,000 after purchasing an additional 355,629 shares during the period. Proficio Capital Partners LLC grew its position in shares of ServiceNow by 2.2% in the first quarter. Proficio Capital Partners LLC now owns 643 shares of the information technology services provider's stock valued at $512,000 after purchasing an additional 14 shares during the period. KLP Kapitalforvaltning AS raised its stake in ServiceNow by 2.4% during the first quarter. KLP Kapitalforvaltning AS now owns 81,365 shares of the information technology services provider's stock worth $64,778,000 after purchasing an additional 1,940 shares during the period. Finally, United Bank raised its stake in ServiceNow by 67.7% during the first quarter. United Bank now owns 1,315 shares of the information technology services provider's stock worth $1,047,000 after purchasing an additional 531 shares during the period. 87.18% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have recently commented on NOW. Erste Group Bank reissued a "hold" rating on shares of ServiceNow in a research note on Wednesday. JMP Securities reissued a "market outperform" rating and set a $1,300.00 price objective on shares of ServiceNow in a report on Tuesday, July 22nd. Stifel Nicolaus raised their price objective on shares of ServiceNow from $975.00 to $1,050.00 and gave the stock a "buy" rating in a report on Tuesday, May 6th. Bank of America raised their price objective on shares of ServiceNow from $1,110.00 to $1,200.00 and gave the stock a "buy" rating in a report on Thursday. Finally, Robert W. Baird raised their price objective on shares of ServiceNow from $1,010.00 to $1,150.00 and gave the stock an "outperform" rating in a report on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, twenty-nine have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, ServiceNow has a consensus rating of "Moderate Buy" and an average price target of $1,114.87.

ServiceNow Price Performance

Shares of NOW stock traded down $28.13 during trading on Friday, hitting $968.05. The company had a trading volume of 1,998,443 shares, compared to its average volume of 1,429,436. The company has a quick ratio of 1.12, a current ratio of 1.09 and a debt-to-equity ratio of 0.14. The stock's 50-day moving average is $1,000.33 and its two-hundred day moving average is $952.52. The stock has a market capitalization of $200.37 billion, a price-to-earnings ratio of 121.92, a price-to-earnings-growth ratio of 4.43 and a beta of 0.94. ServiceNow, Inc. has a 52 week low of $678.66 and a 52 week high of $1,198.09.

ServiceNow (NYSE:NOW - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The information technology services provider reported $4.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.57 by $0.52. The business had revenue of $3.22 billion during the quarter, compared to analyst estimates of $3.12 billion. ServiceNow had a return on equity of 18.04% and a net margin of 13.78%. ServiceNow's revenue for the quarter was up 22.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.13 earnings per share. As a group, analysts predict that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

Insider Activity

In related news, CEO William R. Mcdermott sold 2,050 shares of ServiceNow stock in a transaction dated Friday, May 30th. The stock was sold at an average price of $1,012.01, for a total value of $2,074,620.50. Following the completion of the sale, the chief executive officer directly owned 6,614 shares in the company, valued at approximately $6,693,434.14. This trade represents a 23.66% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Russell S. Elmer sold 62 shares of ServiceNow stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $1,023.00, for a total value of $63,426.00. Following the completion of the sale, the general counsel owned 4,332 shares of the company's stock, valued at $4,431,636. The trade was a 1.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 6,003 shares of company stock valued at $6,015,106. Corporate insiders own 0.38% of the company's stock.

ServiceNow Company 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.