Root Financial Partners LLC Acquires New Holdings in ServiceNow, Inc. (NYSE:NOW)

Root Financial Partners LLC purchased a new stake in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 323 shares of the information technology services provider's stock, valued at approximately $257,000.

Several other large investors have also recently bought and sold shares of the stock. Quarry LP acquired a new stake in shares of ServiceNow during the 4th quarter valued at $27,000. Atala Financial Inc purchased a new position in shares of ServiceNow during the 4th quarter valued at $28,000. LFA Lugano Financial Advisors SA acquired a new position in ServiceNow in the 4th quarter worth about $32,000. Noble Wealth Management PBC acquired a new position in ServiceNow in the fourth quarter worth approximately $34,000. Finally, Heck Capital Advisors LLC acquired a new position in shares of ServiceNow during the 4th quarter worth $37,000. Institutional investors and hedge funds own 87.18% of the company's stock.

ServiceNow Stock Up 1.2%

Shares of NYSE:NOW opened at $1,023.56 on Monday. The company has a 50 day moving average price of $985.61 and a two-hundred day moving average price of $964.70. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.12 and a current ratio of 1.12. The company has a market capitalization of $211.86 billion, a PE ratio of 139.07, a PEG ratio of 4.70 and a beta of 0.96. ServiceNow, Inc. has a 52 week low of $678.66 and a 52 week high of $1,198.09.

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

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. TD Securities reaffirmed a "buy" rating and set a $1,100.00 target price on shares of ServiceNow in a research report on Thursday, April 24th. Bank of America reduced their target price on shares of ServiceNow from $1,280.00 to $1,025.00 and set a "buy" rating for the company in a research note on Tuesday, April 15th. Piper Sandler decreased their price target on shares of ServiceNow from $1,200.00 to $1,120.00 and set an "overweight" rating on the stock in a research note on Thursday, April 24th. Morgan Stanley upped their price objective on ServiceNow from $881.00 to $950.00 and gave the company an "equal weight" rating in a research note on Thursday, April 24th. Finally, Needham & Company LLC reiterated a "buy" rating and set a $1,050.00 target price on shares of ServiceNow in a research report on Tuesday, May 6th. One equities research 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 given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $1,065.32.

Insider Buying and Selling

In other ServiceNow news, insider Jacqueline P. Canney sold 66 shares of the stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $1,023.00, for a total transaction of $67,518.00. Following the sale, the insider now directly owns 3,027 shares in the company, valued at $3,096,621. This represents a 2.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Anita M. Sands sold 248 shares of the firm's stock in a transaction dated 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 transaction, the director now directly owns 10,643 shares in the company, valued at approximately $10,740,277.02. This represents a 2.28% decrease in their ownership of the stock. 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.

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.

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