ServiceNow, Inc. $NOW Holdings Increased by Mattson Financial Services LLC

Key Points

• Mattson Financial Services LLC increased its holdings in ServiceNow, Inc. by 23.0%, acquiring an additional 490 shares, bringing their total to 2,624 shares worth approximately $2,089,000.
• ServiceNow reported $4.09 earnings per share for the last quarter, surpassing analysts' expectations of $3.57, with a revenue of $3.22 billion, reflecting a 22.4% year-over-year increase.
• Multiple analysts have upgraded ServiceNow's stock rating, with target prices ranging from $1,100.00 to $1,300.00, resulting in a consensus rating of "Moderate Buy" and an average price target of $1,115.20.

Mattson Financial Services LLC grew its holdings in ServiceNow, Inc. (NYSE:NOW - Free Report) by 23.0% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,624 shares of the information technology services provider's stock after acquiring an additional 490 shares during the period. Mattson Financial Services LLC's holdings in ServiceNow were worth $2,089,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in NOW. Bogart Wealth LLC raised its stake in shares of ServiceNow by 113.3% in the 1st quarter. Bogart Wealth LLC now owns 32 shares of the information technology services provider's stock valued at $25,000 after acquiring an additional 17 shares during the period. Graybill Wealth Management LTD. purchased a new position in shares of ServiceNow in the 1st quarter valued at $26,000. WASHINGTON TRUST Co raised its stake in shares of ServiceNow by 620.0% in the 1st quarter. WASHINGTON TRUST Co now owns 36 shares of the information technology services provider's stock valued at $29,000 after acquiring an additional 31 shares during the period. Dagco Inc. purchased a new position in shares of ServiceNow in the 1st quarter valued at $33,000. Finally, Heck Capital Advisors LLC purchased a new position in shares of ServiceNow in the 4th quarter valued at $37,000. Hedge funds and other institutional investors own 87.18% of the company's stock.

ServiceNow Stock Performance

Shares of NYSE NOW traded down $8.24 during midday trading on Friday, hitting $930.04. The company's stock had a trading volume of 711,066 shares, compared to its average volume of 1,580,307. ServiceNow, Inc. has a 1-year low of $678.66 and a 1-year high of $1,198.09. The firm's fifty day moving average price is $927.34 and its 200-day moving average price is $922.46. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.09 and a current ratio of 1.09. The firm has a market cap of $193.45 billion, a P/E ratio of 117.13, a P/E/G ratio of 4.23 and a beta of 0.91.

ServiceNow (NYSE:NOW - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The information technology services provider reported $4.09 EPS for the quarter, beating the consensus estimate of $3.57 by $0.52. ServiceNow had a net margin of 13.78% and a return on equity of 18.04%. The business had revenue of $3.22 billion during the quarter, compared to analyst estimates of $3.12 billion. During the same period in the previous year, the business posted $3.13 EPS. The company's quarterly revenue was up 22.4% on a year-over-year basis. On average, sell-side analysts forecast that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

NOW has been the topic of several analyst reports. JMP Securities reaffirmed a "market outperform" rating and set a $1,300.00 price target on shares of ServiceNow in a research note on Monday, August 4th. UBS Group dropped their price target on shares of ServiceNow from $1,125.00 to $1,100.00 and set a "buy" rating on the stock in a research note on Thursday, July 24th. Bank of America lifted their price target on shares of ServiceNow from $1,110.00 to $1,200.00 and gave the stock a "buy" rating in a research note on Thursday, July 24th. Jefferies Financial Group lifted their price target on shares of ServiceNow from $1,025.00 to $1,150.00 and gave the stock a "buy" rating in a research note on Thursday, July 24th. Finally, Wells Fargo & Company lifted their price target on shares of ServiceNow from $1,150.00 to $1,225.00 and gave the stock an "overweight" rating in a research note on Thursday, July 24th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, ServiceNow presently has a consensus rating of "Moderate Buy" and an average target price of $1,115.20.

Insider Activity

In other ServiceNow news, General Counsel Russell S. Elmer sold 1,698 shares of the business's stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $884.26, for a total transaction of $1,501,473.48. Following the completion of the transaction, the general counsel directly owned 4,332 shares of the company's stock, valued at $3,830,614.32. The trade was a 28.16% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Jacqueline P. Canney sold 1,562 shares of the business's stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $866.45, for a total transaction of $1,353,394.90. Following the transaction, the insider directly owned 3,027 shares of the company's stock, valued at $2,622,744.15. The trade was a 34.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 18,976 shares of company stock worth $17,049,775 over the last three months. 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.