Perigon Wealth Management LLC Has $4.18 Million Stock Position in ServiceNow, Inc. (NYSE:NOW)

Perigon Wealth Management LLC grew its stake in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 8.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,248 shares of the information technology services provider's stock after purchasing an additional 418 shares during the period. Perigon Wealth Management LLC's holdings in ServiceNow were worth $4,178,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Onefund LLC boosted its holdings in shares of ServiceNow by 2.0% in the fourth quarter. Onefund LLC now owns 552 shares of the information technology services provider's stock worth $585,000 after buying an additional 11 shares during the period. Cassady Schiller Wealth Management LLC boosted its stake in ServiceNow by 44.0% in the 4th quarter. Cassady Schiller Wealth Management LLC now owns 36 shares of the information technology services provider's stock worth $38,000 after purchasing an additional 11 shares during the period. Plancorp LLC grew its position in ServiceNow by 4.1% during the 4th quarter. Plancorp LLC now owns 308 shares of the information technology services provider's stock worth $327,000 after purchasing an additional 12 shares in the last quarter. Kesler Norman & Wride LLC raised its stake in ServiceNow by 1.2% during the 4th quarter. Kesler Norman & Wride LLC now owns 1,092 shares of the information technology services provider's stock valued at $1,157,000 after purchasing an additional 13 shares during the period. Finally, Sepio Capital LP raised its stake in ServiceNow by 3.8% during the 4th quarter. Sepio Capital LP now owns 359 shares of the information technology services provider's stock valued at $381,000 after purchasing an additional 13 shares during the period. Institutional investors and hedge funds own 87.18% of the company's stock.

ServiceNow Stock Performance

Shares of NOW traded up $12.12 during mid-day trading on Friday, hitting $1,023.56. The company's stock had a trading volume of 1,514,258 shares, compared to its average volume of 1,484,917. The stock's 50-day moving average is $980.58 and its two-hundred day moving average is $967.95. The firm has a market capitalization of $211.86 billion, a PE ratio of 139.07, a price-to-earnings-growth ratio of 4.62 and a beta of 0.95. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.12 and a current ratio of 1.12. ServiceNow, Inc. has a one year low of $678.66 and a one year high of $1,198.09.

ServiceNow (NYSE:NOW - Get Free Report) last released its earnings results on Wednesday, April 23rd. The information technology services provider reported $4.04 EPS for the quarter, beating the consensus estimate of $3.78 by $0.26. The firm had revenue of $3.09 billion during the quarter, compared to analysts' expectations of $3.09 billion. ServiceNow had a net margin of 13.41% and a return on equity of 17.34%. The business's quarterly revenue was up 18.6% compared to the same quarter last year. During the same period in the prior year, the company earned $3.41 EPS. As a group, sell-side analysts anticipate that ServiceNow, Inc. will post 8.93 EPS for the current year.

Insider Activity at ServiceNow

In other ServiceNow news, General Counsel Russell S. Elmer sold 62 shares of ServiceNow stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $1,023.00, for a total transaction of $63,426.00. Following the sale, the general counsel now owns 4,332 shares in the company, valued at $4,431,636. The trade was a 1.41% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Anita M. Sands sold 248 shares of the business's stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $1,009.14, for a total transaction of $250,266.72. Following the completion of the sale, the director now directly owns 10,643 shares in the company, valued at $10,740,277.02. This trade represents a 2.28% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 6,716 shares of company stock worth $6,611,245. Company insiders own 0.38% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on NOW shares. Citigroup lifted their price target on ServiceNow from $1,128.00 to $1,160.00 and gave the company a "buy" rating in a report on Wednesday, May 7th. Robert W. Baird lifted their target price on ServiceNow from $1,010.00 to $1,150.00 and gave the company an "outperform" rating in a research note on Thursday, April 24th. Bank of America reduced their price target on shares of ServiceNow from $1,280.00 to $1,025.00 and set a "buy" rating for the company in a research report on Tuesday, April 15th. Cantor Fitzgerald restated an "overweight" rating and set a $1,048.00 price target on shares of ServiceNow in a report on Thursday, April 24th. Finally, UBS Group reiterated a "buy" rating and issued a $1,025.00 price objective (up previously from $900.00) on shares of ServiceNow in a research note on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, thirty have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $1,065.32.

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.