ServiceNow, Inc. (NYSE:NOW) Shares Bought by Oppenheimer & Co. Inc.

Oppenheimer & Co. Inc. lifted its position in ServiceNow, Inc. (NYSE:NOW - Free Report) by 21.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,342 shares of the information technology services provider's stock after purchasing an additional 1,291 shares during the period. Oppenheimer & Co. Inc.'s holdings in ServiceNow were worth $5,845,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in NOW. Sawgrass Asset Management LLC raised its position in shares of ServiceNow by 1.3% in the first quarter. Sawgrass Asset Management LLC now owns 15,873 shares of the information technology services provider's stock worth $12,637,000 after acquiring an additional 202 shares during the period. Centerpoint Advisory Group raised its holdings in ServiceNow by 11.1% in the 1st quarter. Centerpoint Advisory Group now owns 683 shares of the information technology services provider's stock worth $544,000 after purchasing an additional 68 shares during the period. Flagship Harbor Advisors LLC raised its holdings in ServiceNow by 35.1% in the 1st quarter. Flagship Harbor Advisors LLC now owns 2,223 shares of the information technology services provider's stock worth $1,770,000 after purchasing an additional 577 shares during the period. Duncker Streett & Co. Inc. raised its holdings in ServiceNow by 8.1% in the 1st quarter. Duncker Streett & Co. Inc. now owns 6,895 shares of the information technology services provider's stock worth $5,489,000 after purchasing an additional 519 shares during the period. Finally, 1858 Wealth Management LLC raised its stake in shares of ServiceNow by 15.0% during the 1st quarter. 1858 Wealth Management LLC now owns 2,109 shares of the information technology services provider's stock worth $1,679,000 after buying an additional 275 shares during the period. 87.18% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on NOW. FBN Securities raised ServiceNow to a "strong-buy" rating in a research note on Wednesday, June 11th. Piper Sandler reduced their price target on shares of ServiceNow from $1,200.00 to $1,120.00 and set an "overweight" rating for the company in a research report on Thursday, April 24th. Sanford C. Bernstein restated an "outperform" rating and set a $1,003.00 price target on shares of ServiceNow in a research report on Thursday, April 24th. Stifel Nicolaus upped their price target on shares of ServiceNow from $975.00 to $1,050.00 and gave the stock a "buy" rating in a research report on Tuesday, May 6th. Finally, Jefferies Financial Group reduced their target price on ServiceNow from $1,250.00 to $1,025.00 and set a "buy" rating for the company in a report on Tuesday, April 15th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, twenty-nine have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $1,062.50.

ServiceNow Stock Up 1.6%

Shares of NYSE NOW opened at $995.87 on Wednesday. The company has a 50 day simple moving average of $971.58 and a 200-day simple moving average of $968.44. The company has a market capitalization of $206.13 billion, a P/E ratio of 135.31, a P/E/G ratio of 4.52 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 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, April 23rd. The information technology services provider reported $4.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.78 by $0.26. The company had revenue of $3.09 billion during the quarter, compared to analysts' expectations of $3.09 billion. ServiceNow had a return on equity of 17.34% and a net margin of 13.41%. The firm's quarterly revenue was up 18.6% compared to the same quarter last year. During the same quarter last year, the firm earned $3.41 earnings per share. On average, equities research analysts predict that ServiceNow, Inc. will post 8.93 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO William R. Mcdermott sold 2,050 shares of ServiceNow stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $1,012.01, for a total value of $2,074,620.50. Following the completion of 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Russell S. Elmer sold 62 shares of ServiceNow stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $1,023.00, for a total value of $63,426.00. Following the completion of the sale, the general counsel now directly owns 4,332 shares of the company's stock, valued at $4,431,636. The trade was a 1.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 6,716 shares of company stock valued at $6,611,245. 0.38% of the stock is currently owned by insiders.

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.

Want to see what other hedge funds are holding NOW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ServiceNow, Inc. (NYSE:NOW - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.