Root Financial Partners LLC Buys New Position in ServiceNow, Inc. (NYSE:NOW)

Root Financial Partners LLC acquired 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 Securities and Exchange Commission (SEC). The firm acquired 323 shares of the information technology services provider's stock, valued at approximately $257,000.

Several other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in ServiceNow by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 19,199,258 shares of the information technology services provider's stock worth $20,353,517,000 after buying an additional 190,430 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in 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 acquiring an additional 509,467 shares in the last quarter. FMR LLC increased its position in ServiceNow by 4.9% during the 4th quarter. FMR LLC now owns 5,878,900 shares of the information technology services provider's stock valued at $6,232,339,000 after buying an additional 272,506 shares in the last quarter. Geode Capital Management LLC boosted its stake in ServiceNow by 2.4% in the 4th quarter. Geode Capital Management LLC now owns 4,312,571 shares of the information technology services provider's stock worth $4,560,890,000 after purchasing an additional 100,670 shares in the last quarter. Finally, GAMMA Investing LLC increased its position in shares of ServiceNow by 87,501.3% in the 1st 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 acquiring an additional 2,686,291 shares during the period. 87.18% of the stock is owned by institutional investors.

Insider Buying and Selling at ServiceNow

In related news, CEO William R. Mcdermott sold 2,050 shares of the business's stock in a transaction that occurred on Friday, May 30th. The stock was sold at an average price of $1,012.01, for a total transaction of $2,074,620.50. Following the completion of the sale, the chief executive officer owned 6,614 shares in the company, valued at $6,693,434.14. The trade was a 23.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Russell S. Elmer sold 62 shares of the stock in a transaction that occurred 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 completion of the transaction, the general counsel owned 4,332 shares in the company, valued at $4,431,636. This represents a 1.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 6,716 shares of company stock worth $6,611,245. 0.38% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. UBS Group reaffirmed a "buy" rating and issued a $1,025.00 price objective (up from $900.00) on shares of ServiceNow in a report on Thursday, April 24th. Jefferies Financial Group lowered their target price on ServiceNow from $1,250.00 to $1,025.00 and set a "buy" rating on the stock in a report on Tuesday, April 15th. The Goldman Sachs Group reissued a "buy" rating on shares of ServiceNow in a research report on Thursday, April 24th. Canaccord Genuity Group decreased their price target on ServiceNow from $1,275.00 to $900.00 and set a "buy" rating on the stock in a research note on Tuesday, April 22nd. Finally, William Blair restated an "outperform" rating on shares of ServiceNow in a report on Friday, March 7th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, thirty-one have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $1,068.23.

ServiceNow Stock Up 3.6%

Shares of NYSE:NOW traded up $36.27 during trading hours 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. ServiceNow, Inc. has a 1 year low of $678.66 and a 1 year high of $1,198.09. The firm's 50 day moving average is $999.82 and its 200-day moving average is $964.70. The stock has a market capitalization of $216.51 billion, a price-to-earnings ratio of 142.12, a P/E/G ratio of 4.65 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.

ServiceNow (NYSE:NOW - Get Free Report) last posted 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 for the quarter, compared to analyst estimates of $3.09 billion. ServiceNow had a return on equity of 17.34% and a net margin of 13.41%. ServiceNow's revenue for the quarter was up 18.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $3.41 earnings per share. Research analysts predict that ServiceNow, Inc. will post 8.93 earnings per share for the current fiscal year.

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.