ServiceNow, Inc. (NYSE:NOW) Shares Acquired by Bay Rivers Group

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

Several other hedge funds and other institutional investors have also made changes to their positions in NOW. Brighton Jones LLC raised its stake in ServiceNow by 1.1% in the 4th quarter. Brighton Jones LLC now owns 2,753 shares of the information technology services provider's stock valued at $2,919,000 after purchasing an additional 30 shares during the last quarter. Union Bancaire Privee UBP SA purchased a new stake in ServiceNow in the 4th quarter valued at about $48,802,000. Stock Yards Bank & Trust Co. grew its holdings in ServiceNow by 22.1% in the 4th quarter. Stock Yards Bank & Trust Co. now owns 276 shares of the information technology services provider's stock valued at $293,000 after buying an additional 50 shares during the period. Tanager Wealth Management LLP purchased a new stake in ServiceNow in the 4th quarter valued at about $212,000. Finally, Sargent Investment Group LLC grew its holdings in shares of ServiceNow by 11.8% during the 4th quarter. Sargent Investment Group LLC now owns 294 shares of the information technology services provider's stock worth $299,000 after purchasing an additional 31 shares during the period. Institutional investors and hedge funds own 87.18% of the company's stock.

Insider Buying and Selling

In related news, CEO William R. Mcdermott sold 2,050 shares of the company's stock in a transaction 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 transaction, the chief executive officer now directly owns 6,614 shares in the company, valued at $6,693,434.14. This represents a 23.66% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jacqueline P. Canney sold 66 shares of the company's stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $1,023.00, for a total value of $67,518.00. Following the transaction, the insider now owns 3,027 shares of the company's stock, valued at approximately $3,096,621. The trade was a 2.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 6,716 shares of company stock worth $6,611,245 in the last three months. 0.38% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on NOW. Oppenheimer reiterated an "outperform" rating and set a $1,100.00 target price (up previously from $970.00) on shares of ServiceNow in a report on Tuesday, May 6th. Needham & Company LLC reissued a "buy" rating and set a $1,050.00 price target on shares of ServiceNow in a research report on Tuesday, May 6th. Guggenheim boosted their price target on ServiceNow from $716.00 to $724.00 and gave the stock a "sell" rating in a research report on Thursday, April 24th. Redburn Atlantic started coverage on ServiceNow in a research report on Wednesday, February 19th. They set a "buy" rating on the stock. Finally, Piper Sandler reduced their price target on ServiceNow from $1,200.00 to $1,120.00 and set an "overweight" rating on the stock in a research report on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, thirty have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, ServiceNow presently has an average rating of "Moderate Buy" and an average target price of $1,062.50.

ServiceNow Stock Performance

Shares of NOW stock traded up $13.10 on Friday, hitting $1,030.70. 956,231 shares of the stock traded hands, compared to its average volume of 1,484,782. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.10 and a quick ratio of 1.10. The company 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. ServiceNow, Inc. has a 1-year low of $678.66 and a 1-year high of $1,198.09. The company's fifty day moving average is $919.44 and its 200 day moving average is $974.12.

ServiceNow (NYSE:NOW - Get Free Report) last posted 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. The business had revenue of $3.09 billion for the quarter, compared to analyst estimates of $3.09 billion. ServiceNow had a return on equity of 17.11% and a net margin of 12.97%. The business's revenue was up 18.6% compared to the same quarter last year. During the same period in the prior year, the company posted $3.41 EPS. On average, equities 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.