ServiceNow, Inc. (NYSE:NOW) Shares Bought by SteelPeak Wealth LLC

SteelPeak Wealth LLC lifted its holdings in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 538.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,151 shares of the information technology services provider's stock after buying an additional 1,814 shares during the period. SteelPeak Wealth LLC's holdings in ServiceNow were worth $1,712,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of NOW. Quarry LP acquired a new stake in shares of ServiceNow in the 4th quarter worth approximately $27,000. Atala Financial Inc acquired a new stake in ServiceNow in the fourth quarter valued at $28,000. WASHINGTON TRUST Co increased its position in shares of ServiceNow by 620.0% in the first quarter. WASHINGTON TRUST Co now owns 36 shares of the information technology services provider's stock valued at $29,000 after buying an additional 31 shares in the last quarter. Heck Capital Advisors LLC acquired a new position in shares of ServiceNow during the 4th quarter worth $37,000. Finally, Cassady Schiller Wealth Management LLC boosted its position in shares of ServiceNow by 44.0% in the 4th quarter. Cassady Schiller Wealth Management LLC now owns 36 shares of the information technology services provider's stock worth $38,000 after buying an additional 11 shares in the last quarter. 87.18% of the stock is owned by institutional investors and hedge funds.

ServiceNow Trading Down 3.2%

Shares of NOW stock traded down $30.97 during mid-day trading on Friday, reaching $937.12. The company's stock had a trading volume of 2,144,933 shares, compared to its average volume of 1,483,800. The company's 50 day simple moving average is $1,008.08 and its 200-day simple moving average is $960.59. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.15. ServiceNow, Inc. has a 12-month low of $678.66 and a 12-month high of $1,198.09. The firm has a market capitalization of $193.97 billion, a PE ratio of 127.33, a price-to-earnings-growth ratio of 4.45 and a beta of 0.94.

ServiceNow (NYSE:NOW - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The information technology services provider reported $4.04 EPS for the quarter, topping analysts' consensus estimates of $3.78 by $0.26. ServiceNow had a return on equity of 17.34% and a net margin of 13.41%. The company had revenue of $3.09 billion for the quarter, compared to analysts' expectations of $3.09 billion. During the same quarter in the previous year, the firm posted $3.41 earnings per share. The firm's quarterly revenue was up 18.6% on a year-over-year basis. On average, research analysts predict that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

Insider Activity

In other ServiceNow news, Director Jonathan Chadwick sold 770 shares of the company's stock in a transaction that occurred on Monday, April 28th. The stock was sold at an average price of $931.62, for a total value of $717,347.40. Following the completion of the transaction, the director owned 3,205 shares in the company, valued at $2,985,842.10. This represents a 19.37% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Anita M. Sands sold 428 shares of ServiceNow stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $1,013.61, for a total transaction of $433,825.08. Following the sale, the director owned 10,891 shares in the company, valued at $11,039,226.51. This represents a 3.78% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 6,955 shares of company stock worth $6,862,195 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. TD Securities restated a "buy" rating and set a $1,100.00 target price on shares of ServiceNow in a report on Thursday, April 24th. Stifel Nicolaus raised their price objective on shares of ServiceNow from $975.00 to $1,050.00 and gave the stock a "buy" rating in a research note on Tuesday, May 6th. Robert W. Baird upped their target price on ServiceNow from $1,010.00 to $1,150.00 and gave the company an "outperform" rating in a research note on Thursday, April 24th. Wall Street Zen downgraded ServiceNow from a "buy" rating to a "hold" rating in a research report on Saturday, July 5th. Finally, Raymond James Financial cut their price target on ServiceNow from $1,200.00 to $1,000.00 and set an "outperform" rating for the company in a report on Tuesday, April 8th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, thirty have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, ServiceNow has an average rating of "Moderate Buy" and an average target price of $1,068.23.

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.