ServiceNow, Inc. (NYSE:NOW) Stake Raised by Golden State Wealth Management LLC

Golden State Wealth Management LLC lifted its stake in ServiceNow, Inc. (NYSE:NOW - Free Report) by 76.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,035 shares of the information technology services provider's stock after purchasing an additional 449 shares during the period. Golden State Wealth Management LLC's holdings in ServiceNow were worth $824,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in NOW. GAMMA Investing LLC boosted its stake in shares of ServiceNow by 87,501.3% during the 1st quarter. GAMMA Investing LLC now owns 2,689,361 shares of the information technology services provider's stock worth $2,141,108,000 after acquiring an additional 2,686,291 shares in the last quarter. Norges Bank purchased a new position in ServiceNow in the 4th quarter valued at approximately $2,603,360,000. Proficio Capital Partners LLC raised its holdings in ServiceNow by 154,255.3% during 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 during the last quarter. Alphinity Investment Management Pty Ltd acquired a new position in ServiceNow during the fourth quarter worth $682,468,000. Finally, Price T Rowe Associates Inc. MD boosted its position in ServiceNow by 6.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 7,955,924 shares of the information technology services provider's stock worth $8,434,235,000 after purchasing an additional 509,467 shares in the last quarter. Hedge funds and other institutional investors own 87.18% of the company's stock.

ServiceNow Trading Up 0.8%

NYSE NOW traded up $7.57 during mid-day trading on Thursday, hitting $1,012.73. The company's stock had a trading volume of 1,202,641 shares, compared to its average volume of 1,482,807. The firm has a market capitalization of $209.62 billion, a P/E ratio of 137.60, a price-to-earnings-growth ratio of 4.58 and a beta of 0.95. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.12 and a quick ratio of 1.12. ServiceNow, Inc. has a 52-week low of $678.66 and a 52-week high of $1,198.09. The stock's fifty day simple moving average is $975.77 and its two-hundred day simple moving average is $968.70.

ServiceNow (NYSE:NOW - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The information technology services provider reported $4.04 EPS for the quarter, beating analysts' consensus estimates of $3.78 by $0.26. The business had revenue of $3.09 billion for the quarter, compared to the consensus estimate of $3.09 billion. ServiceNow had a net margin of 13.41% and a return on equity of 17.34%. The business's revenue for the quarter was up 18.6% compared to the same quarter last year. During the same quarter last year, the firm posted $3.41 EPS. Research analysts expect that ServiceNow, Inc. will post 8.93 EPS for the current year.

Insiders Place Their Bets

In other ServiceNow news, CEO William R. Mcdermott sold 2,050 shares of the stock in a transaction on Friday, May 30th. The stock was sold at an average price of $1,012.01, for a total value of $2,074,620.50. Following the sale, the chief executive officer now directly owns 6,614 shares of the company's stock, valued at $6,693,434.14. This trade represents a 23.66% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Jacqueline P. Canney sold 354 shares of the business's stock in a transaction on Wednesday, April 16th. The shares were sold at an average price of $804.61, for a total transaction of $284,831.94. Following the transaction, the insider now directly owns 3,027 shares of the company's stock, valued at approximately $2,435,554.47. This trade represents a 10.47% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 6,716 shares of company stock valued at $6,611,245. Company insiders own 0.38% of the company's stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Oppenheimer restated an "outperform" rating and issued a $1,100.00 price target (up previously from $970.00) on shares of ServiceNow in a research report on Tuesday, May 6th. Cantor Fitzgerald restated an "overweight" rating and set a $1,048.00 target price on shares of ServiceNow in a report on Thursday, April 24th. BMO Capital Markets lifted their target price on shares of ServiceNow from $1,025.00 to $1,150.00 and gave the stock an "outperform" rating in a research report on Wednesday, May 14th. Sanford C. Bernstein reaffirmed an "outperform" rating and issued a $1,003.00 price target on shares of ServiceNow in a report on Thursday, April 24th. Finally, Raymond James Financial lowered their price target on shares of ServiceNow from $1,200.00 to $1,000.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 8th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, thirty have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $1,065.32.

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.