CGN Advisors LLC Grows Holdings in ServiceNow, Inc. (NYSE:NOW)

CGN Advisors LLC grew its position in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 41.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,338 shares of the information technology services provider's stock after purchasing an additional 683 shares during the period. CGN Advisors LLC's holdings in ServiceNow were worth $1,861,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Unigestion Holding SA bought a new stake in ServiceNow during the 1st quarter valued at $924,000. Smith Anglin Financial LLC bought a new position in shares of ServiceNow in the 1st quarter worth about $269,000. Capital Asset Advisory Services LLC lifted its position in ServiceNow by 12.9% during the 1st quarter. Capital Asset Advisory Services LLC now owns 438 shares of the information technology services provider's stock valued at $361,000 after acquiring an additional 50 shares during the period. Fulton Bank N.A. boosted its stake in ServiceNow by 2.4% during the first quarter. Fulton Bank N.A. now owns 1,926 shares of the information technology services provider's stock worth $1,533,000 after acquiring an additional 45 shares in the last quarter. Finally, ST Germain D J Co. Inc. increased its stake in shares of ServiceNow by 63.3% during the first quarter. ST Germain D J Co. Inc. now owns 49 shares of the information technology services provider's stock valued at $39,000 after purchasing an additional 19 shares in the last quarter. 87.18% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at ServiceNow

In related news, Director Anita M. Sands sold 248 shares of the firm's stock in a transaction dated 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 completion of the sale, the director now directly owns 10,643 shares in the company, valued at approximately $10,740,277.02. This trade represents a 2.28% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jacqueline P. Canney sold 354 shares of the firm's stock in a transaction that occurred on Wednesday, April 16th. The stock was sold at an average price of $804.61, for a total transaction of $284,831.94. Following the sale, the insider now owns 3,027 shares of the company's stock, valued at $2,435,554.47. This represents a 10.47% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 6,716 shares of company stock worth $6,611,245 in the last quarter. Company insiders own 0.38% of the company's stock.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. Mizuho decreased their target price on shares of ServiceNow from $1,210.00 to $1,100.00 and set an "outperform" rating for the company in a report on Tuesday, March 11th. Bank of America lowered their price objective on ServiceNow from $1,280.00 to $1,025.00 and set a "buy" rating on the stock in a research report on Tuesday, April 15th. William Blair reissued an "outperform" rating on shares of ServiceNow in a report on Friday, March 7th. UBS Group reaffirmed a "buy" rating and set a $1,025.00 price target (up from $900.00) on shares of ServiceNow in a report on Thursday, April 24th. Finally, Sanford C. Bernstein reiterated an "outperform" rating and issued a $1,003.00 price objective on shares of ServiceNow in a report on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, thirty have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $1,062.50.

ServiceNow Price Performance

NOW stock traded up $1.37 during mid-day trading on Wednesday, reaching $1,012.25. The company's stock had a trading volume of 717,603 shares, compared to its average volume of 1,496,929. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.15. The company's 50 day moving average is $906.32 and its two-hundred day moving average is $974.56. ServiceNow, Inc. has a fifty-two week low of $656.02 and a fifty-two week high of $1,198.09. The stock has a market cap of $209.52 billion, a PE ratio of 148.21, a P/E/G ratio of 4.51 and a beta of 0.97.

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

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.