Parr Mcknight Wealth Management Group LLC Invests $1.82 Million 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 the company in its most recent filing with the SEC. The fund purchased 2,286 shares of the information technology services provider's stock, valued at approximately $1,820,000.

Several other large investors have also added to or reduced their stakes in the company. Brighton Jones LLC boosted its stake in shares of ServiceNow by 1.1% in the fourth quarter. Brighton Jones LLC now owns 2,753 shares of the information technology services provider's stock worth $2,919,000 after buying an additional 30 shares during the last quarter. Proficio Capital Partners LLC boosted its stake in shares of ServiceNow by 45.6% in the fourth quarter. Proficio Capital Partners LLC now owns 629 shares of the information technology services provider's stock worth $667,000 after buying an additional 197 shares during the last quarter. AlphaQuest LLC purchased a new stake in shares of ServiceNow in the fourth quarter worth about $131,000. King Luther Capital Management Corp boosted its stake in shares of ServiceNow by 10.7% in the fourth quarter. King Luther Capital Management Corp now owns 1,023 shares of the information technology services provider's stock worth $1,085,000 after buying an additional 99 shares during the last quarter. Finally, Avantax Planning Partners Inc. boosted its stake in shares of ServiceNow by 1.6% in the fourth quarter. Avantax Planning Partners Inc. now owns 890 shares of the information technology services provider's stock worth $944,000 after buying an additional 14 shares during the last quarter. Hedge funds and other institutional investors own 87.18% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on NOW. DA Davidson began coverage on ServiceNow in a research note on Wednesday, June 25th. They issued a "buy" rating and a $1,150.00 target price on the stock. Robert W. Baird upped their target price on ServiceNow from $1,010.00 to $1,150.00 and gave the stock an "outperform" rating in a research note on Thursday, April 24th. FBN Securities raised ServiceNow to a "strong-buy" rating in a report on Wednesday, June 11th. Stifel Nicolaus upped their price target on ServiceNow from $975.00 to $1,050.00 and gave the stock a "buy" rating in a report on Tuesday, May 6th. Finally, TD Securities reaffirmed a "buy" rating and issued a $1,100.00 price target on shares of ServiceNow in a report on Thursday, April 24th. One research analyst has rated the stock with a sell rating, three have given a hold rating, thirty have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $1,068.23.

ServiceNow Trading Down 2.7%

ServiceNow stock traded down $25.66 during mid-day trading on Friday, hitting $942.43. The company's stock had a trading volume of 966,025 shares, compared to its average volume of 1,478,573. The firm has a market capitalization of $195.07 billion, a PE ratio of 128.10, a price-to-earnings-growth ratio of 4.66 and a beta of 0.94. ServiceNow, Inc. has a 1 year low of $678.66 and a 1 year high of $1,198.09. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.15. The stock's fifty day moving average is $1,008.88 and its two-hundred day moving average is $961.75.

ServiceNow (NYSE:NOW - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The information technology services provider reported $4.04 EPS for the quarter, topping the consensus estimate of $3.78 by $0.26. ServiceNow had a return on equity of 17.34% and a net margin of 13.41%. The business had revenue of $3.09 billion during the quarter, compared to analyst estimates of $3.09 billion. During the same period last year, the business posted $3.41 earnings per share. The company's quarterly revenue was up 18.6% on a year-over-year basis. On average, analysts anticipate that ServiceNow, Inc. will post 8.93 EPS for the current year.

Insider Buying and Selling at ServiceNow

In other news, Director Deborah Black sold 598 shares of the firm's stock in a transaction on Friday, April 25th. The stock was sold at an average price of $940.23, for a total transaction of $562,257.54. Following the completion of the transaction, the director directly owned 428 shares in the company, valued at $402,418.44. This trade represents a 58.28% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO William R. Mcdermott sold 2,050 shares of the firm's stock in a transaction on 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 transaction, the chief executive officer owned 6,614 shares of the company's stock, valued at approximately $6,693,434.14. This represents a 23.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 6,955 shares of company stock valued at $6,862,195. Corporate insiders own 0.38% of the company's stock.

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.