Harbor Investment Advisory LLC Raises Stock Holdings in ServiceNow, Inc. (NYSE:NOW)

Harbor Investment Advisory LLC grew its holdings in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 15.3% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 2,092 shares of the information technology services provider's stock after acquiring an additional 277 shares during the period. Harbor Investment Advisory LLC's holdings in ServiceNow were worth $1,666,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the company. Avidian Wealth Enterprises LLC raised its holdings in ServiceNow by 1.8% in the 4th quarter. Avidian Wealth Enterprises LLC now owns 497 shares of the information technology services provider's stock worth $527,000 after purchasing an additional 9 shares in the last quarter. TBH Global Asset Management LLC boosted its holdings in shares of ServiceNow by 3.8% in the fourth quarter. TBH Global Asset Management LLC now owns 302 shares of the information technology services provider's stock worth $320,000 after buying an additional 11 shares during the last quarter. Onefund LLC boosted its holdings in shares of ServiceNow by 2.0% in the fourth quarter. Onefund LLC now owns 552 shares of the information technology services provider's stock worth $585,000 after buying an additional 11 shares during the last quarter. Cassady Schiller Wealth Management LLC boosted its holdings in shares of ServiceNow by 44.0% in the fourth quarter. Cassady Schiller Wealth Management LLC now owns 36 shares of the information technology services provider's stock worth $38,000 after buying an additional 11 shares during the last quarter. Finally, Valley Brook Capital Group Inc. boosted its holdings in shares of ServiceNow by 2.7% in the fourth quarter. Valley Brook Capital Group Inc. now owns 459 shares of the information technology services provider's stock worth $487,000 after buying an additional 12 shares during the last quarter. 87.18% of the stock is currently owned by institutional investors and hedge funds.

ServiceNow Trading Up 1.0%

Shares of NYSE NOW traded up $9.97 during mid-day trading on Thursday, reaching $1,022.71. 408,328 shares of the company's stock were exchanged, compared to its average volume of 1,488,497. The firm has a market capitalization of $211.68 billion, a price-to-earnings ratio of 149.74, a PEG ratio of 4.51 and a beta of 0.97. 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 52-week low of $676.19 and a 52-week high of $1,198.09. The company's 50-day moving average is $910.63 and its 200-day moving average is $974.82.

ServiceNow (NYSE:NOW - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The information technology services provider reported $4.04 earnings per share for the quarter, topping analysts' consensus estimates of $3.78 by $0.26. The business 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 company's revenue was up 18.6% compared to the same quarter last year. During the same period in the prior year, the business posted $3.41 EPS. Analysts expect that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

Insider Activity

In other news, CEO William R. Mcdermott sold 2,050 shares of the firm's stock in a transaction dated Friday, May 30th. The stock was sold at an average price of $1,012.01, for a total transaction of $2,074,620.50. Following the sale, the chief executive officer now owns 6,614 shares of the company's stock, valued at approximately $6,693,434.14. This trade represents a 23.66% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Anita M. Sands sold 428 shares of the firm's stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $1,013.61, for a total value of $433,825.08. Following the sale, the director now directly owns 10,891 shares in the company, valued at $11,039,226.51. This trade represents a 3.78% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 6,716 shares of company stock worth $6,611,245. 0.38% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. Bank of America decreased their target price on shares of ServiceNow from $1,280.00 to $1,025.00 and set a "buy" rating on the stock in a research note on Tuesday, April 15th. Redburn Atlantic assumed coverage on shares of ServiceNow in a research note on Wednesday, February 19th. They set a "buy" rating on the stock. Raymond James decreased their target price on shares of 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. Citigroup raised their target price on shares of ServiceNow from $1,128.00 to $1,160.00 and gave the stock a "buy" rating in a research note on Wednesday, May 7th. Finally, Morgan Stanley raised their target price on shares of ServiceNow from $881.00 to $950.00 and gave the stock an "equal weight" rating in a research note on Thursday, April 24th. One analyst has rated the stock with a sell rating, two have issued a hold rating, thirty have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, ServiceNow has a consensus rating of "Moderate Buy" and an average price target of $1,062.50.

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.