ServiceNow, Inc. (NYSE:NOW) Shares Bought by Cary Street Partners Financial LLC

Key Points

• Cary Street Partners Financial LLC increased its holdings in ServiceNow by 49.3% during the 1st quarter, now owning 881 shares valued at approximately $701,000.
• ServiceNow reported earnings of $4.09 per share for the last quarter, surpassing analysts' estimates, with revenue reaching $3.22 billion, a 22.4% increase year-over-year.
• Wall Street analysts display a consensus rating of "Moderate Buy" for ServiceNow, with varying price targets ranging from $724 to $1,275.

Cary Street Partners Financial LLC grew its stake in ServiceNow, Inc. (NYSE:NOW - Free Report) by 49.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 881 shares of the information technology services provider's stock after buying an additional 291 shares during the quarter. Cary Street Partners Financial LLC's holdings in ServiceNow were worth $701,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of NOW. Brighton Jones LLC boosted 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 worth $2,919,000 after purchasing an additional 30 shares during the period. FIL Ltd grew its holdings in ServiceNow by 22.0% during the 4th quarter. FIL Ltd now owns 561 shares of the information technology services provider's stock valued at $595,000 after buying an additional 101 shares in the last quarter. Heritage Trust Co purchased a new position in ServiceNow during the 4th quarter valued at approximately $1,886,000. Glass Jacobson Investment Advisors llc purchased a new position in ServiceNow during the 4th quarter valued at approximately $172,000. Finally, Monetary Management Group Inc. grew its holdings in ServiceNow by 18.2% during the 4th quarter. Monetary Management Group Inc. now owns 1,985 shares of the information technology services provider's stock valued at $2,104,000 after buying an additional 305 shares in the last quarter. Hedge funds and other institutional investors own 87.18% of the company's stock.

Insider Activity at ServiceNow

In other ServiceNow news, Director Lawrence Jackson sold 757 shares of ServiceNow stock in a transaction on Tuesday, July 29th. The shares were sold at an average price of $990.50, for a total transaction of $749,808.50. Following the sale, the director owned 588 shares of the company's stock, valued at $582,414. The trade was a 56.28% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Anita M. Sands sold 428 shares of ServiceNow stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $1,013.61, for a total transaction of $433,825.08. Following the sale, the director directly owned 10,891 shares in the company, valued at approximately $11,039,226.51. This trade represents a 3.78% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 5,587 shares of company stock valued at $5,584,027 in the last ninety days. 0.38% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on NOW shares. DA Davidson raised their price target on ServiceNow from $1,150.00 to $1,250.00 and gave the company a "buy" rating in a report on Thursday, July 24th. Cantor Fitzgerald reiterated an "overweight" rating and issued a $1,200.00 target price on shares of ServiceNow in a report on Thursday, July 24th. JPMorgan Chase & Co. dropped their target price on ServiceNow from $1,200.00 to $970.00 and set an "overweight" rating for the company in a report on Tuesday, April 22nd. Piper Sandler lifted their target price on ServiceNow from $1,120.00 to $1,150.00 and gave the stock an "overweight" rating in a report on Thursday, July 24th. Finally, Robert W. Baird lifted their target price on ServiceNow from $1,010.00 to $1,150.00 and gave the stock an "outperform" rating in a report on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, thirty have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $1,115.20.

ServiceNow Stock Performance

Shares of NOW stock traded down $3.39 during mid-day trading on Tuesday, reaching $852.98. The stock had a trading volume of 2,865,010 shares, compared to its average volume of 1,704,553. The business's fifty day moving average is $979.82 and its 200-day moving average is $940.29. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.14. The firm has a market cap of $177.42 billion, a price-to-earnings ratio of 107.43, a PEG ratio of 3.93 and a beta of 0.93. ServiceNow, Inc. has a 1-year low of $678.66 and a 1-year high of $1,198.09.

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

ServiceNow 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.