Morse Asset Management Inc Has $2.76 Million Stock Position in ServiceNow, Inc. (NYSE:NOW)

Morse Asset Management Inc grew its stake in ServiceNow, Inc. (NYSE:NOW - Free Report) by 53.2% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,469 shares of the information technology services provider's stock after buying an additional 1,204 shares during the period. Morse Asset Management Inc's holdings in ServiceNow were worth $2,762,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Quarry LP acquired a new position in shares of ServiceNow during the 4th quarter worth about $27,000. Bogart Wealth LLC lifted its position in shares of ServiceNow by 113.3% during the 1st 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 last quarter. Graybill Wealth Management LTD. acquired a new position in shares of ServiceNow during the 1st quarter worth about $26,000. Heck Capital Advisors LLC acquired a new position in shares of ServiceNow during the 4th quarter worth about $37,000. Finally, WASHINGTON TRUST Co lifted its position 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 worth $29,000 after purchasing an additional 31 shares during the last quarter. Institutional investors and hedge funds own 87.18% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on NOW shares. FBN Securities raised ServiceNow to a "strong-buy" rating in a report on Wednesday, June 11th. BMO Capital Markets upped their price target on ServiceNow from $1,025.00 to $1,150.00 and gave the company an "outperform" rating in a report on Wednesday, May 14th. The Goldman Sachs Group reaffirmed a "buy" rating on shares of ServiceNow in a report on Thursday, April 24th. Raymond James Financial cut their price target on ServiceNow from $1,200.00 to $1,000.00 and set an "outperform" rating for the company in a report on Tuesday, April 8th. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $1,050.00 price target on shares of ServiceNow in a report on Tuesday, May 6th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, thirty-one have assigned a buy rating and two have issued 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 $1,075.87.

ServiceNow Price Performance

NYSE NOW traded up $4.28 during trading hours on Friday, reaching $963.43. 1,153,834 shares of the company's stock were exchanged, compared to its average volume of 1,487,823. The stock has a market cap of $199.41 billion, a PE ratio of 130.90, a price-to-earnings-growth ratio of 4.43 and a beta of 0.94. ServiceNow, Inc. has a one year low of $678.66 and a one year high of $1,198.09. The firm has a fifty day moving average of $1,006.53 and a 200-day moving average of $955.70. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.15.

ServiceNow (NYSE:NOW - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The information technology services provider reported $4.04 EPS for the quarter, topping analysts' consensus estimates of $3.78 by $0.26. The business had revenue of $3.09 billion for the quarter, compared to analyst estimates of $3.09 billion. ServiceNow had a return on equity of 17.34% and a net margin of 13.41%. ServiceNow's revenue for the quarter was up 18.6% on a year-over-year basis. During the same period in the prior year, the company earned $3.41 EPS. On average, equities research analysts predict that ServiceNow, Inc. will post 8.93 earnings per share for the current fiscal year.

Insider Transactions at ServiceNow

In other ServiceNow news, Director Jonathan Chadwick sold 770 shares of the stock in a transaction on Monday, April 28th. The stock was sold at an average price of $931.62, for a total value of $717,347.40. Following the transaction, the director directly owned 3,205 shares in the company, valued at approximately $2,985,842.10. This trade represents a 19.37% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Vice Chairman Nicholas Tzitzon sold 1,171 shares of the stock in a transaction 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 completion of the transaction, the insider owned 3,000 shares in the company, valued at $3,060,000. The trade was a 28.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 6,601 shares of company stock worth $6,577,363. Corporate insiders own 0.38% of the company's stock.

ServiceNow 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.