ServiceNow, Inc. (NYSE:NOW) Shares Acquired by Meeder Advisory Services Inc.

Key Points

• Meeder Advisory Services Inc. increased its stake in ServiceNow by 26.2%, owning 5,449 shares valued at approximately $4.34 million following the purchase of an additional 1,130 shares.
• ServiceNow reported $4.09 earnings per share for the last quarter, exceeding analysts' expectations of $3.57, with a 22.4% year-over-year revenue increase totaling $3.22 billion.
• Institutional investors and hedge funds control 87.18% of ServiceNow's stock, reflecting strong interest from major financial entities.

Meeder Advisory Services Inc. increased its holdings in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 26.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,449 shares of the information technology services provider's stock after purchasing an additional 1,130 shares during the period. Meeder Advisory Services Inc.'s holdings in ServiceNow were worth $4,338,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in NOW. Quarry LP bought a new stake in ServiceNow during the fourth quarter worth $27,000. Bogart Wealth LLC boosted its position in ServiceNow by 113.3% during the first quarter. Bogart Wealth LLC now owns 32 shares of the information technology services provider's stock worth $25,000 after purchasing an additional 17 shares during the period. Graybill Wealth Management LTD. bought a new position in ServiceNow during the first quarter worth about $26,000. Heck Capital Advisors LLC bought a new stake in shares of ServiceNow during the 4th quarter valued at $37,000. Finally, WASHINGTON TRUST Co raised its stake in shares of ServiceNow by 620.0% during the 1st quarter. WASHINGTON TRUST Co now owns 36 shares of the information technology services provider's stock valued at $29,000 after purchasing an additional 31 shares during the period. Institutional investors and hedge funds own 87.18% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Bank of America upped their price objective on shares of ServiceNow from $1,110.00 to $1,200.00 and gave the stock a "buy" rating in a research report on Thursday, July 24th. Cantor Fitzgerald restated an "overweight" rating and set a $1,200.00 target price on shares of ServiceNow in a report on Thursday, July 24th. Canaccord Genuity Group dropped their price objective on ServiceNow from $1,275.00 to $900.00 and set a "buy" rating for the company in a report on Tuesday, April 22nd. Raymond James Financial raised their target price on ServiceNow from $1,000.00 to $1,100.00 and gave the company an "outperform" rating in a research note on Thursday, July 24th. Finally, Evercore ISI raised their price objective on ServiceNow from $925.00 to $1,000.00 and gave the company an "outperform" rating in a research report on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, thirty have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $1,115.20.

ServiceNow Trading Down 1.6%

NYSE NOW traded down $16.10 during trading hours on Wednesday, hitting $977.10. 1,091,770 shares of the company were exchanged, compared to its average volume of 1,688,171. The stock has a 50-day moving average price of $998.96 and a 200 day moving average price of $951.86. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.14. ServiceNow, Inc. has a 52 week low of $678.66 and a 52 week high of $1,198.09. The stock has a market cap of $203.24 billion, a PE ratio of 123.06, a price-to-earnings-growth ratio of 4.44 and a beta of 0.94.

ServiceNow (NYSE:NOW - Get Free Report) last released its earnings results on Wednesday, July 23rd. The information technology services provider reported $4.09 EPS for the quarter, beating analysts' consensus estimates of $3.57 by $0.52. The firm had revenue of $3.22 billion for the quarter, compared to analysts' expectations of $3.12 billion. ServiceNow had a return on equity of 18.04% and a net margin of 13.78%. The company's quarterly revenue was up 22.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.13 earnings per share. Analysts forecast that ServiceNow, Inc. will post 8.93 earnings per share for the current fiscal year.

Insider Activity

In related news, CFO Gina Mastantuono sold 292 shares of the business's stock in a transaction that occurred on Thursday, May 8th. The stock was sold at an average price of $985.00, for a total value of $287,620.00. Following the completion of the sale, the chief financial officer owned 11,198 shares in the company, valued at approximately $11,030,030. The trade was a 2.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Anita M. Sands sold 428 shares of the business's stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $1,013.61, for a total value of $433,825.08. Following the completion of the sale, the director owned 10,891 shares of the company's stock, valued at $11,039,226.51. The trade was a 3.78% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 5,233 shares of company stock valued at $5,297,758. 0.38% of the stock is currently owned by corporate insiders.

About ServiceNow

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.