Red Door Wealth Management LLC Purchases 780 Shares of ServiceNow, Inc. (NYSE:NOW)

Red Door Wealth Management LLC grew its stake in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 9.9% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 8,681 shares of the information technology services provider's stock after purchasing an additional 780 shares during the quarter. Red Door Wealth Management LLC's holdings in ServiceNow were worth $6,911,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. WASHINGTON TRUST Co grew its holdings in ServiceNow by 620.0% in the 1st quarter. WASHINGTON TRUST Co now owns 36 shares of the information technology services provider's stock worth $29,000 after acquiring an additional 31 shares during the last quarter. Valley National Advisers Inc. grew its stake in shares of ServiceNow by 2.0% in the first quarter. Valley National Advisers Inc. now owns 731 shares of the information technology services provider's stock worth $581,000 after purchasing an additional 14 shares during the last quarter. Washington Trust Advisors Inc. increased its holdings in ServiceNow by 29.1% during the 1st quarter. Washington Trust Advisors Inc. now owns 111 shares of the information technology services provider's stock valued at $88,000 after purchasing an additional 25 shares during the period. IRON Financial LLC bought a new position in ServiceNow during the 1st quarter valued at approximately $752,000. Finally, Amalgamated Bank lifted its holdings in ServiceNow by 1.9% in the 1st quarter. Amalgamated Bank now owns 45,262 shares of the information technology services provider's stock worth $36,035,000 after buying an additional 847 shares during the period. Institutional investors own 87.18% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on NOW shares. Wall Street Zen raised ServiceNow from a "hold" rating to a "buy" rating in a research note on Friday, June 27th. Stifel Nicolaus boosted their price objective on shares of ServiceNow from $975.00 to $1,050.00 and gave the company a "buy" rating in a research report on Tuesday, May 6th. Royal Bank Of Canada upped their price objective on shares of ServiceNow from $1,060.00 to $1,100.00 and gave the stock an "outperform" rating in a report on Tuesday, May 6th. Guggenheim boosted their price target on shares of ServiceNow from $716.00 to $724.00 and gave the company a "sell" rating in a research report on Thursday, April 24th. Finally, Raymond James Financial lowered their price objective on shares of ServiceNow from $1,200.00 to $1,000.00 and set an "outperform" rating for the company in a report on Tuesday, April 8th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, thirty-one have issued a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $1,068.23.

ServiceNow Stock Up 3.6%

NYSE NOW traded up $36.27 during mid-day trading on Thursday, reaching $1,046.03. The stock had a trading volume of 1,205,886 shares, compared to its average volume of 1,482,655. The stock has a market cap of $216.51 billion, a PE ratio of 142.12, a price-to-earnings-growth ratio of 4.65 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 debt-to-equity ratio of 0.15, a current ratio of 1.12 and a quick ratio of 1.12. The company has a fifty day moving average price of $999.82 and a 200 day moving average price of $964.70.

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, 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 firm had revenue of $3.09 billion during the quarter, compared to analysts' expectations of $3.09 billion. During the same quarter in the previous year, the business earned $3.41 earnings per share. The company's revenue was up 18.6% on a year-over-year basis. On average, research analysts expect that ServiceNow, Inc. will post 8.93 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Deborah Black sold 598 shares of the stock in a transaction that occurred on Friday, April 25th. The shares were sold at an average price of $940.23, for a total transaction of $562,257.54. Following the transaction, the director owned 428 shares in the company, valued at $402,418.44. This represents a 58.28% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Anita M. Sands sold 428 shares of ServiceNow 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 completion of the sale, the director directly owned 10,891 shares of the company's stock, valued at approximately $11,039,226.51. This trade represents a 3.78% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 6,716 shares of company stock worth $6,611,245 in the last quarter. 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.