ServiceNow, Inc. (NYSE:NOW) Shares Bought by Park Avenue Securities LLC

Park Avenue Securities LLC increased its holdings in ServiceNow, Inc. (NYSE:NOW - Free Report) by 3.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 10,177 shares of the information technology services provider's stock after buying an additional 314 shares during the quarter. Park Avenue Securities LLC's holdings in ServiceNow were worth $8,102,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of NOW. Brighton Jones LLC increased its holdings in shares of ServiceNow by 1.1% during the 4th quarter. Brighton Jones LLC now owns 2,753 shares of the information technology services provider's stock valued at $2,919,000 after purchasing an additional 30 shares in the last quarter. Union Bancaire Privee UBP SA purchased a new position in shares of ServiceNow during the 4th quarter valued at approximately $48,802,000. Lecap Asset Management Ltd. purchased a new position in shares of ServiceNow during the 4th quarter valued at approximately $490,000. Vest Financial LLC increased its holdings in shares of ServiceNow by 22.1% during the 4th quarter. Vest Financial LLC now owns 1,214 shares of the information technology services provider's stock valued at $1,287,000 after purchasing an additional 220 shares in the last quarter. Finally, Apollon Wealth Management LLC increased its holdings in shares of ServiceNow by 10.2% during the 4th quarter. Apollon Wealth Management LLC now owns 3,123 shares of the information technology services provider's stock valued at $3,311,000 after purchasing an additional 288 shares in the last quarter. Institutional investors and hedge funds own 87.18% of the company's stock.

Wall Street Analyst Weigh In

NOW has been the subject of several recent research reports. Jefferies Financial Group cut their target price on shares of ServiceNow from $1,250.00 to $1,025.00 and set a "buy" rating for the company in a report on Tuesday, April 15th. Redburn Atlantic assumed coverage on shares of ServiceNow in a research note on Wednesday, February 19th. They issued a "buy" rating on the stock. JPMorgan Chase & Co. dropped their price target on shares of ServiceNow from $1,200.00 to $970.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 22nd. Mizuho dropped their price target on shares of ServiceNow from $1,210.00 to $1,100.00 and set an "outperform" rating on the stock in a research note on Tuesday, March 11th. Finally, Stifel Nicolaus lifted their price target on shares of ServiceNow from $975.00 to $1,050.00 and gave the company a "buy" rating in a research note on Tuesday, May 6th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-nine have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $1,062.50.

ServiceNow Stock Up 1.3%

Shares of NOW opened at $1,030.70 on Monday. The stock has a fifty day simple moving average of $919.44 and a two-hundred day simple moving average of $974.12. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.15. The company has a market capitalization of $213.34 billion, a PE ratio of 150.91, a price-to-earnings-growth ratio of 4.51 and a beta of 0.95. ServiceNow, Inc. has a 52-week low of $678.66 and a 52-week high of $1,198.09.

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

Insider Buying and Selling

In other ServiceNow news, CEO William R. Mcdermott sold 2,050 shares of ServiceNow stock in a transaction dated 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 completion of the transaction, the chief executive officer now directly owns 6,614 shares of the company's stock, valued at $6,693,434.14. The trade was a 23.66% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, General Counsel Russell S. Elmer sold 62 shares of ServiceNow stock in a transaction dated 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 transaction, the general counsel now directly owns 4,332 shares of the company's stock, valued at approximately $4,431,636. This represents 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.

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.

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