Parr Mcknight Wealth Management Group LLC Takes $1.82 Million Position in ServiceNow, Inc. (NYSE:NOW)

Parr Mcknight Wealth Management Group LLC purchased a new stake in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 2,286 shares of the information technology services provider's stock, valued at approximately $1,820,000.

Several other large investors have also recently added to or reduced their stakes in the company. Janus Henderson Group PLC grew its position in shares of ServiceNow by 1.5% during the 4th quarter. Janus Henderson Group PLC now owns 824,725 shares of the information technology services provider's stock valued at $874,258,000 after buying an additional 12,533 shares during the last quarter. FMR LLC boosted its stake in ServiceNow by 4.9% in the fourth quarter. FMR LLC now owns 5,878,900 shares of the information technology services provider's stock valued at $6,232,339,000 after acquiring an additional 272,506 shares during the period. Nicholas Investment Partners LP boosted its stake in ServiceNow by 223.5% in the fourth quarter. Nicholas Investment Partners LP now owns 2,805 shares of the information technology services provider's stock valued at $2,974,000 after acquiring an additional 1,938 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of ServiceNow by 18.8% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 196,783 shares of the information technology services provider's stock valued at $209,103,000 after purchasing an additional 31,125 shares during the last quarter. Finally, Norges Bank acquired a new stake in shares of ServiceNow during the 4th quarter worth approximately $2,603,360,000. 87.18% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

NOW has been the topic of several recent research reports. Truist Financial upgraded shares of ServiceNow from a "hold" rating to a "buy" rating and lifted their price objective for the company from $950.00 to $1,200.00 in a research report on Thursday, May 1st. JPMorgan Chase & Co. cut their price objective 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. JMP Securities reissued a "market outperform" rating and issued a $1,300.00 price objective on shares of ServiceNow in a research note on Tuesday, May 6th. BMO Capital Markets raised their price objective on shares of ServiceNow from $1,025.00 to $1,150.00 and gave the company an "outperform" rating in a research report on Wednesday, May 14th. Finally, FBN Securities upgraded shares of ServiceNow to a "strong-buy" rating in a report on Wednesday, June 11th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, thirty have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $1,068.23.

ServiceNow Stock Down 4.5%

NYSE:NOW traded down $45.42 on Thursday, hitting $968.29. The stock had a trading volume of 2,002,404 shares, compared to its average volume of 1,480,307. The stock has a market cap of $200.42 billion, a P/E ratio of 129.80, a price-to-earnings-growth ratio of 4.66 and a beta of 0.94. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.12 and a current ratio of 1.12. The firm's fifty day simple moving average is $1,008.69 and its two-hundred day simple moving average is $962.58. 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 posted its quarterly earnings results on Wednesday, April 23rd. The information technology services provider reported $4.04 earnings per share for the quarter, beating the consensus estimate of $3.78 by $0.26. The company had revenue of $3.09 billion during the quarter, compared to analyst estimates of $3.09 billion. ServiceNow had a net margin of 13.41% and a return on equity of 17.34%. The firm's revenue for the quarter 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. Analysts predict that ServiceNow, Inc. will post 8.93 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Anita M. Sands sold 239 shares of the business's stock in a transaction dated Thursday, July 3rd. The stock was sold at an average price of $1,050.00, for a total transaction of $250,950.00. Following the completion of the transaction, the director directly owned 10,404 shares in the company, valued at $10,924,200. The trade was a 2.25% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jacqueline P. Canney sold 145 shares of ServiceNow 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 $147,900.00. Following the sale, the insider owned 3,027 shares of the company's stock, valued at approximately $3,087,540. The trade was a 4.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 6,955 shares of company stock valued at $6,862,195. Corporate insiders own 0.38% of the company's stock.

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.