Rossby Financial LCC Makes New $292,000 Investment in ServiceNow, Inc. (NYSE:NOW)

Rossby Financial LCC purchased a new position in ServiceNow, Inc. (NYSE:NOW - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 367 shares of the information technology services provider's stock, valued at approximately $292,000.

Other institutional investors also recently added to or reduced their stakes in the company. Brighton Jones LLC grew its stake in shares of ServiceNow by 1.1% during the 4th quarter. Brighton Jones LLC now owns 2,753 shares of the information technology services provider's stock worth $2,919,000 after acquiring an additional 30 shares during the period. Proficio Capital Partners LLC increased its stake in shares of ServiceNow by 154,255.3% in the fourth quarter. Proficio Capital Partners LLC now owns 666,815 shares of the information technology services provider's stock worth $667,000 after purchasing an additional 666,383 shares in the last quarter. Modera Wealth Management LLC raised its position in shares of ServiceNow by 22.7% in the fourth quarter. Modera Wealth Management LLC now owns 335 shares of the information technology services provider's stock valued at $355,000 after purchasing an additional 62 shares during the period. Commerzbank Aktiengesellschaft FI boosted its holdings in ServiceNow by 39.6% in the 4th quarter. Commerzbank Aktiengesellschaft FI now owns 1,502 shares of the information technology services provider's stock worth $1,604,000 after buying an additional 426 shares during the period. Finally, Exencial Wealth Advisors LLC boosted its holdings in ServiceNow by 16.5% in the 4th quarter. Exencial Wealth Advisors LLC now owns 558 shares of the information technology services provider's stock worth $592,000 after buying an additional 79 shares during the period. Institutional investors own 87.18% of the company's stock.

Insider Buying and Selling at ServiceNow

In other ServiceNow news, Director Deborah Black sold 598 shares of the company's stock in a transaction on Friday, April 25th. The shares were sold at an average price of $940.23, for a total value of $562,257.54. Following the completion of the transaction, the director directly owned 428 shares in the company, valued at approximately $402,418.44. This represents a 58.28% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jonathan Chadwick sold 770 shares of the firm's stock in a transaction dated Monday, April 28th. The stock was sold at an average price of $931.62, for a total transaction of $717,347.40. Following the completion of the sale, the director directly owned 3,205 shares of the company's stock, valued at approximately $2,985,842.10. This represents a 19.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 6,716 shares of company stock worth $6,611,245 over the last three months. 0.38% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on NOW. Erste Group Bank raised ServiceNow from a "hold" rating to a "strong-buy" rating in a report on Wednesday, April 30th. TD Securities restated a "buy" rating and issued a $1,100.00 target price on shares of ServiceNow in a research note 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 report on Tuesday, April 22nd. Jefferies Financial Group cut their price objective on shares of ServiceNow from $1,250.00 to $1,025.00 and set a "buy" rating for the company in a research report on Tuesday, April 15th. Finally, Morgan Stanley boosted their price objective on shares of ServiceNow from $950.00 to $1,040.00 and gave the company an "equal weight" rating in a research note on Wednesday. One research analyst has rated the stock with a sell rating, two have given a hold rating, thirty-one have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $1,068.23.

ServiceNow Trading Up 3.6%

Shares of ServiceNow stock traded up $36.27 on Thursday, hitting $1,046.03. The stock had a trading volume of 1,205,886 shares, compared to its average volume of 1,482,655. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.15. ServiceNow, Inc. has a one year low of $678.66 and a one year high of $1,198.09. The stock's 50-day simple moving average is $999.82 and its two-hundred day simple moving average is $964.70. The stock has a market cap of $216.51 billion, a price-to-earnings ratio of 142.12, a PEG ratio of 4.65 and a beta of 0.94.

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