Private Advisor Group LLC Acquires 4,076 Shares of ServiceNow, Inc. (NYSE:NOW)

Private Advisor Group LLC boosted its position in ServiceNow, Inc. (NYSE:NOW - Free Report) by 35.1% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 15,698 shares of the information technology services provider's stock after purchasing an additional 4,076 shares during the quarter. Private Advisor Group LLC's holdings in ServiceNow were worth $12,498,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of NOW. Bogart Wealth LLC increased its holdings in shares of ServiceNow by 113.3% during the first quarter. Bogart Wealth LLC now owns 32 shares of the information technology services provider's stock valued at $25,000 after acquiring an additional 17 shares in the last quarter. Graybill Wealth Management LTD. bought a new position in shares of ServiceNow during the first quarter valued at $26,000. Quarry LP bought a new position in shares of ServiceNow during the fourth quarter valued at $27,000. WASHINGTON TRUST Co increased its holdings in shares of ServiceNow by 620.0% during the first quarter. WASHINGTON TRUST Co now owns 36 shares of the information technology services provider's stock valued at $29,000 after acquiring an additional 31 shares in the last quarter. Finally, Heck Capital Advisors LLC bought a new position in shares of ServiceNow during the fourth quarter valued at $37,000. 87.18% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms recently commented on NOW. Guggenheim reaffirmed a "sell" rating and set a $724.00 price objective on shares of ServiceNow in a research report on Thursday. Canaccord Genuity Group dropped their price objective on ServiceNow from $1,275.00 to $900.00 and set a "buy" rating on the stock in a research report on Tuesday, April 22nd. BMO Capital Markets raised their target price on ServiceNow from $1,025.00 to $1,150.00 and gave the stock an "outperform" rating in a research report on Wednesday, May 14th. Erste Group Bank raised ServiceNow from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, April 30th. Finally, TD Securities reissued a "buy" rating and issued a $1,100.00 target price on shares of ServiceNow in a research report on Thursday, April 24th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, thirty-one have given a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, ServiceNow presently has an average rating of "Moderate Buy" and an average target price of $1,075.87.

ServiceNow Price Performance

NYSE:NOW traded up $4.28 during trading hours on Friday, reaching $963.43. The stock had a trading volume of 1,153,834 shares, compared to its average volume of 1,487,823. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.12 and a current ratio of 1.12. ServiceNow, Inc. has a 52 week low of $678.66 and a 52 week high of $1,198.09. The company has a 50 day moving average price of $1,006.53 and a two-hundred day moving average price of $955.70. The stock has a market capitalization of $199.41 billion, a PE ratio of 130.90, a PEG ratio of 4.43 and a beta of 0.94.

ServiceNow (NYSE:NOW - Get Free Report) last released 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. ServiceNow had a return on equity of 17.34% and a net margin of 13.41%. The business had revenue of $3.09 billion for the quarter, compared to the consensus estimate of $3.09 billion. During the same quarter in the previous year, the company posted $3.41 EPS. The company's revenue was up 18.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that ServiceNow, Inc. will post 8.93 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Anita M. Sands sold 428 shares of the business's stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $1,013.61, for a total transaction of $433,825.08. Following the transaction, the director owned 10,891 shares of the company's stock, valued at approximately $11,039,226.51. The trade was a 3.78% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Vice Chairman Nicholas Tzitzon sold 1,171 shares of the business's stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $1,020.00, for a total value of $1,194,420.00. Following the transaction, the insider directly owned 3,000 shares in the company, valued at approximately $3,060,000. This represents a 28.07% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 6,601 shares of company stock worth $6,577,363. Company insiders own 0.38% of the company's stock.

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.