Hennion & Walsh Asset Management Inc. Has $6.71 Million Holdings in ServiceNow, Inc. (NYSE:NOW)

Hennion & Walsh Asset Management Inc. boosted its stake in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 13.6% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 8,431 shares of the information technology services provider's stock after purchasing an additional 1,007 shares during the period. Hennion & Walsh Asset Management Inc.'s holdings in ServiceNow were worth $6,712,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of NOW. Quarry LP purchased a new position in ServiceNow in the fourth quarter worth about $27,000. Atala Financial Inc purchased a new stake in ServiceNow during the 4th quarter valued at $28,000. LFA Lugano Financial Advisors SA bought a new stake in ServiceNow in the fourth quarter worth $32,000. FPC Investment Advisory Inc. boosted its stake 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 during the period. Finally, Noble Wealth Management PBC bought a new position in ServiceNow during the fourth quarter valued at $34,000. Institutional investors own 87.18% of the company's stock.

Insider Activity

In other ServiceNow news, Director Anita M. Sands sold 248 shares of the company's stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $1,009.14, for a total transaction of $250,266.72. Following the sale, the director now directly owns 10,643 shares of the company's stock, valued at approximately $10,740,277.02. This represents a 2.28% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO William R. Mcdermott sold 2,050 shares of the stock in a transaction that occurred 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 owns 6,614 shares in the company, valued at approximately $6,693,434.14. This trade represents a 23.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 6,716 shares of company stock valued at $6,611,245. Insiders own 0.38% of the company's stock.

ServiceNow Stock Up 0.5%

ServiceNow stock traded up $5.07 during mid-day trading on Thursday, hitting $1,017.81. 902,286 shares of the company's stock were exchanged, compared to its average volume of 1,490,366. ServiceNow, Inc. has a 1-year low of $676.19 and a 1-year high of $1,198.09. The stock has a 50 day moving average of $910.63 and a two-hundred day moving average of $974.82. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.15. The stock has a market cap of $210.67 billion, a P/E ratio of 149.02, a P/E/G ratio of 4.51 and a beta of 0.97.

ServiceNow (NYSE:NOW - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The information technology services provider reported $4.04 EPS for the quarter, topping the consensus estimate of $3.78 by $0.26. The firm had revenue of $3.09 billion for the quarter, compared to the consensus estimate of $3.09 billion. ServiceNow had a net margin of 12.97% and a return on equity of 17.11%. The business's quarterly revenue was up 18.6% on a year-over-year basis. During the same quarter last year, the firm posted $3.41 EPS. As a group, analysts anticipate that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Bank of America reduced their price target on shares of ServiceNow from $1,280.00 to $1,025.00 and set a "buy" rating on the stock in a research note on Tuesday, April 15th. Cantor Fitzgerald reissued an "overweight" rating and issued a $1,048.00 price objective on shares of ServiceNow in a research note on Thursday, April 24th. Truist Financial upgraded ServiceNow from a "hold" rating to a "buy" rating and upped their target price for the stock from $950.00 to $1,200.00 in a report on Thursday, May 1st. Wells Fargo & Company lifted their price objective on ServiceNow from $1,100.00 to $1,150.00 and gave the company an "overweight" rating in a report on Thursday, April 24th. Finally, Redburn Atlantic initiated coverage on shares of ServiceNow in a research report on Wednesday, February 19th. They set a "buy" rating on the stock. One investment analyst has rated the stock with a sell rating, two have given a hold rating, thirty have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $1,062.50.

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.