ServiceNow, Inc. (NYSE:NOW) Shares Purchased by Perpetual Ltd

Perpetual Ltd lifted its holdings in ServiceNow, Inc. (NYSE:NOW - Free Report) by 8.9% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,895 shares of the information technology services provider's stock after purchasing an additional 318 shares during the period. Perpetual Ltd's holdings in ServiceNow were worth $3,101,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in NOW. Quarry LP acquired a new position in shares of ServiceNow in the fourth quarter valued at approximately $27,000. Atala Financial Inc acquired a new position in shares of ServiceNow in the fourth quarter valued at approximately $28,000. LFA Lugano Financial Advisors SA purchased a new position in ServiceNow in the fourth quarter worth approximately $32,000. Noble Wealth Management PBC purchased a new position in ServiceNow in the fourth quarter worth approximately $34,000. Finally, Heck Capital Advisors LLC purchased a new position in ServiceNow in the fourth quarter worth approximately $37,000. Institutional investors and hedge funds own 87.18% of the company's stock.

ServiceNow Stock Performance

Shares of ServiceNow stock opened at $1,023.56 on Friday. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.12 and a quick ratio of 1.12. The stock has a market capitalization of $211.86 billion, a price-to-earnings ratio of 139.07, a PEG ratio of 4.65 and a beta of 0.95. The firm's fifty day simple moving average is $985.61 and its 200-day simple moving average is $967.23. ServiceNow, Inc. has a 12 month low of $678.66 and a 12 month high of $1,198.09.

ServiceNow (NYSE:NOW - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The information technology services provider reported $4.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.78 by $0.26. The company had revenue of $3.09 billion for the quarter, compared to analysts' expectations of $3.09 billion. ServiceNow had a net margin of 13.41% and a return on equity of 17.34%. ServiceNow's revenue was up 18.6% compared to the same quarter last year. During the same period in the previous year, the company posted $3.41 EPS. As a group, equities analysts forecast that ServiceNow, Inc. will post 8.93 earnings per share for the current year.

Insider Buying and Selling at ServiceNow

In other news, insider Jacqueline P. Canney sold 354 shares of the company's stock in a transaction on Wednesday, April 16th. The shares were sold at an average price of $804.61, for a total transaction of $284,831.94. Following the transaction, the insider now directly 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 transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO William R. Mcdermott sold 2,050 shares of the company's stock in a transaction on 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 transaction, the chief executive officer now directly owns 6,614 shares in the company, valued at approximately $6,693,434.14. This trade represents a 23.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 6,716 shares of company stock valued at $6,611,245. 0.38% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on NOW shares. Oppenheimer reiterated an "outperform" rating and issued a $1,100.00 price target (up previously from $970.00) on shares of ServiceNow in a research note on Tuesday, May 6th. JPMorgan Chase & Co. decreased their price target on shares of ServiceNow from $1,200.00 to $970.00 and set an "overweight" rating for the company in a research note on Tuesday, April 22nd. Royal Bank Of Canada lifted their price target on shares of ServiceNow from $1,060.00 to $1,100.00 and gave the stock an "outperform" rating in a research note on Tuesday, May 6th. The Goldman Sachs Group reiterated a "buy" rating on shares of ServiceNow in a research note on Thursday, April 24th. Finally, Raymond James Financial decreased their price target on shares of ServiceNow from $1,200.00 to $1,000.00 and set an "outperform" rating for the company in a research note on Tuesday, April 8th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, thirty-one have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $1,065.32.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.