Bay Rivers Group Grows Stock Position in ServiceNow, Inc. (NYSE:NOW)

Bay Rivers Group lifted its holdings in ServiceNow, Inc. (NYSE:NOW - Free Report) by 11.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,885 shares of the information technology services provider's stock after buying an additional 296 shares during the period. Bay Rivers Group's holdings in ServiceNow were worth $2,297,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Quarry LP purchased a new position in shares of ServiceNow in the 4th quarter valued at about $27,000. Atala Financial Inc acquired a new position in ServiceNow in the 4th quarter valued at $28,000. LFA Lugano Financial Advisors SA acquired a new position in ServiceNow during the 4th quarter worth approximately $32,000. Noble Wealth Management PBC acquired a new stake in ServiceNow in the fourth quarter valued at $34,000. Finally, FPC Investment Advisory Inc. boosted its holdings in ServiceNow by 725.0% during the fourth quarter. FPC Investment Advisory Inc. now owns 33 shares of the information technology services provider's stock worth $34,000 after buying an additional 29 shares in the last quarter. 87.18% of the stock is currently owned by hedge funds and other institutional investors.

ServiceNow Trading Up 1.3%

NOW stock traded up $13.10 during mid-day trading on Friday, reaching $1,030.70. 956,231 shares of the stock traded hands, compared to its average volume of 1,483,042. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.10 and a current ratio of 1.10. ServiceNow, Inc. has a one year low of $678.66 and a one year high of $1,198.09. The stock has a market capitalization of $213.34 billion, a PE ratio of 150.91, a PEG ratio of 4.51 and a beta of 0.95. The business has a 50-day moving average price of $915.04 and a two-hundred day moving average price of $974.91.

ServiceNow (NYSE:NOW - Get Free Report) last issued its quarterly earnings data 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 12.97% and a return on equity of 17.11%. The company had revenue of $3.09 billion for the quarter, compared to analyst estimates of $3.09 billion. During the same period last year, the company posted $3.41 earnings per share. ServiceNow's revenue was up 18.6% compared to the same quarter last year. Equities research analysts expect that ServiceNow, Inc. will post 8.93 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on NOW shares. Bank of America dropped their price objective 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. BMO Capital Markets boosted their price target on ServiceNow from $1,025.00 to $1,150.00 and gave the company an "outperform" rating in a research report on Wednesday, May 14th. Canaccord Genuity Group reduced their target price on shares of ServiceNow from $1,275.00 to $900.00 and set a "buy" rating on the stock in a report on Tuesday, April 22nd. Needham & Company LLC reiterated a "buy" rating and set a $1,050.00 price objective on shares of ServiceNow in a research note on Tuesday, May 6th. Finally, Sanford C. Bernstein reaffirmed an "outperform" rating and set a $1,003.00 target price on shares of ServiceNow in a research report on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, thirty have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $1,062.50.

Insider Buying and Selling at ServiceNow

In related news, Vice Chairman Nicholas Tzitzon sold 1,171 shares of the stock in a transaction that occurred on Friday, May 30th. The stock was sold at an average price of $1,020.00, for a total value of $1,194,420.00. Following the completion of the transaction, the insider now directly owns 3,000 shares in the company, valued at approximately $3,060,000. This represents a 28.07% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO William R. Mcdermott sold 2,050 shares of the business's stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $1,012.01, for a total value of $2,074,620.50. Following the completion of the sale, the chief executive officer now directly owns 6,614 shares in the company, valued at approximately $6,693,434.14. The trade was a 23.66% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 6,716 shares of company stock worth $6,611,245. Insiders own 0.38% of the company's stock.

ServiceNow Company 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.