Rhumbline Advisers Buys 5,499 Shares of ServiceNow, Inc. (NYSE:NOW)

Rhumbline Advisers lifted its position in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 1.5% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 377,750 shares of the information technology services provider's stock after acquiring an additional 5,499 shares during the period. Rhumbline Advisers owned 0.18% of ServiceNow worth $300,742,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of NOW. Vanguard Group Inc. increased its stake in shares of ServiceNow by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 19,199,258 shares of the information technology services provider's stock valued at $20,353,517,000 after purchasing an additional 190,430 shares during the period. Price T Rowe Associates Inc. MD increased its stake in shares of ServiceNow by 6.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 7,955,924 shares of the information technology services provider's stock valued at $8,434,235,000 after purchasing an additional 509,467 shares during the period. FMR LLC increased its stake in shares of 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 purchasing an additional 272,506 shares during the period. Geode Capital Management LLC increased its stake in shares of ServiceNow by 2.4% in the fourth quarter. Geode Capital Management LLC now owns 4,312,571 shares of the information technology services provider's stock valued at $4,560,890,000 after purchasing an additional 100,670 shares during the period. Finally, GAMMA Investing LLC increased its stake in shares of ServiceNow by 87,501.3% in the first quarter. GAMMA Investing LLC now owns 2,689,361 shares of the information technology services provider's stock valued at $2,141,108,000 after purchasing an additional 2,686,291 shares during the period. Institutional investors and hedge funds own 87.18% of the company's stock.

ServiceNow Trading Down 0.0%

ServiceNow stock traded down $0.11 during midday trading on Monday, reaching $1,010.98. The stock had a trading volume of 1,001,802 shares, compared to its average volume of 1,503,330. The firm's fifty day simple moving average is $899.20 and its two-hundred day simple moving average is $974.30. ServiceNow, Inc. has a twelve month low of $645.45 and a twelve month high of $1,198.09. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.10 and a quick ratio of 1.10. The firm has a market cap of $209.26 billion, a price-to-earnings ratio of 148.02, a PEG ratio of 4.51 and a beta of 0.97.

ServiceNow (NYSE:NOW - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The information technology services provider reported $4.04 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 12.97% and a return on equity of 17.11%. The company's revenue for the quarter was up 18.6% on a year-over-year basis. During the same quarter last year, the business posted $3.41 EPS. Equities analysts anticipate that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have commented on NOW. UBS Group restated a "buy" rating and issued a $1,025.00 price target (up previously from $900.00) on shares of ServiceNow in a research note on Thursday, April 24th. Oppenheimer restated an "outperform" rating and issued a $1,100.00 price target (up previously from $970.00) on shares of ServiceNow in a research note on Tuesday, May 6th. Guggenheim raised their price target on shares of ServiceNow from $716.00 to $724.00 and gave the company a "sell" rating in a research note on Thursday, April 24th. Erste Group Bank upgraded shares of ServiceNow from a "hold" rating to a "strong-buy" rating in a report on Wednesday, April 30th. Finally, Barclays set a $1,085.00 price objective on shares of ServiceNow in a report on Wednesday, May 7th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, thirty have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, ServiceNow presently has an average rating of "Moderate Buy" and an average target price of $1,062.50.

Insider Buying and Selling at ServiceNow

In other ServiceNow news, General Counsel Russell S. Elmer sold 191 shares of the stock in a transaction on Thursday, May 8th. The shares were sold at an average price of $985.00, for a total transaction of $188,135.00. Following the transaction, the general counsel now directly owns 4,332 shares of the company's stock, valued at $4,267,020. This represents a 4.22% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Jacqueline P. Canney sold 354 shares of the firm's stock in a transaction dated Wednesday, April 16th. The shares were sold at an average price of $804.61, for a total value of $284,831.94. Following the transaction, the insider now owns 3,027 shares in the company, valued at approximately $2,435,554.47. This trade represents a 10.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 3,102 shares of company stock valued at $2,944,038 in the last quarter. Company 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.