ServiceNow, Inc. (NYSE:NOW) Stake Boosted by Axecap Investments LLC

Axecap Investments LLC increased its holdings in ServiceNow, Inc. (NYSE:NOW - Free Report) by 17.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,118 shares of the information technology services provider's stock after purchasing an additional 773 shares during the quarter. ServiceNow makes up approximately 3.5% of Axecap Investments LLC's holdings, making the stock its 7th largest holding. Axecap Investments LLC's holdings in ServiceNow were worth $4,075,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. Quarry LP purchased a new position in shares of ServiceNow during the fourth quarter valued at approximately $27,000. Atala Financial Inc purchased a new position in shares of ServiceNow during the fourth quarter valued at approximately $28,000. LFA Lugano Financial Advisors SA purchased a new position in shares of ServiceNow during the fourth quarter valued at approximately $32,000. FPC Investment Advisory Inc. grew its holdings in shares of ServiceNow by 725.0% during the 4th quarter. FPC Investment Advisory Inc. now owns 33 shares of the information technology services provider's stock worth $34,000 after acquiring an additional 29 shares during the period. Finally, Noble Wealth Management PBC purchased a new position in shares of ServiceNow during the 4th quarter worth approximately $34,000. Hedge funds and other institutional investors own 87.18% of the company's stock.

Analysts Set New Price Targets

NOW has been the topic of several recent research reports. Morgan Stanley upped their price target on ServiceNow from $881.00 to $950.00 and gave the stock an "equal weight" rating in a research note on Thursday, April 24th. Jefferies Financial Group cut their target price on ServiceNow from $1,250.00 to $1,025.00 and set a "buy" rating on the stock in a research note on Tuesday, April 15th. Erste Group Bank upgraded ServiceNow from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, April 30th. Raymond James cut their target price on ServiceNow from $1,200.00 to $1,000.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 8th. Finally, Piper Sandler cut their target price on ServiceNow from $1,200.00 to $1,120.00 and set an "overweight" rating on the stock in a research note on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-nine have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, ServiceNow presently has a consensus rating of "Moderate Buy" and a consensus target price of $1,062.50.

ServiceNow Trading Up 0.2%

NOW stock traded up $1.70 during mid-day trading on Thursday, reaching $1,006.03. 846,899 shares of the stock traded hands, compared to its average volume of 1,480,444. The business has a 50-day moving average price of $933.88 and a two-hundred day moving average price of $974.34. The stock has a market capitalization of $208.23 billion, a PE ratio of 147.30, a PEG ratio of 4.51 and a beta of 0.95. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.10 and a current ratio of 1.10. ServiceNow, Inc. has a one year low of $678.66 and a one year high of $1,198.09.

ServiceNow (NYSE:NOW - Get Free Report) last issued its quarterly earnings results 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 analyst estimates of $3.09 billion. ServiceNow had a return on equity of 17.11% and a net margin of 12.97%. ServiceNow's quarterly revenue was up 18.6% compared to the same quarter last year. During the same period last year, the company earned $3.41 EPS. Equities research analysts expect that ServiceNow, Inc. will post 8.93 EPS for the current year.

Insider Transactions at ServiceNow

In other news, Vice Chairman Nicholas Tzitzon sold 1,171 shares of the firm'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 transaction of $1,194,420.00. Following the transaction, the insider now directly owns 3,000 shares of the company's stock, valued at approximately $3,060,000. This trade represents a 28.07% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Anita M. Sands sold 248 shares of ServiceNow stock in a transaction that occurred on 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 transaction, the director now directly owns 10,643 shares in the company, valued at approximately $10,740,277.02. The trade was a 2.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 6,716 shares of company stock worth $6,611,245. 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.