ServiceNow, Inc. (NYSE:NOW) Shares Purchased by United Bank

United Bank grew its holdings in ServiceNow, Inc. (NYSE:NOW - Free Report) by 67.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,315 shares of the information technology services provider's stock after purchasing an additional 531 shares during the quarter. United Bank's holdings in ServiceNow were worth $1,047,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. GAMMA Investing LLC grew its holdings in ServiceNow by 87,501.3% during the first quarter. GAMMA Investing LLC now owns 2,689,361 shares of the information technology services provider's stock worth $2,141,108,000 after acquiring an additional 2,686,291 shares during the period. Norges Bank acquired a new stake in shares of ServiceNow during the 4th quarter valued at about $2,603,360,000. OVERSEA CHINESE BANKING Corp Ltd lifted its holdings in shares of ServiceNow by 1,586.5% during the 1st quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 933,209 shares of the information technology services provider's stock valued at $742,965,000 after buying an additional 877,875 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of ServiceNow by 6.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 7,955,924 shares of the information technology services provider's stock valued at $8,434,235,000 after buying an additional 509,467 shares during the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its holdings in shares of ServiceNow by 36.7% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 1,830,419 shares of the information technology services provider's stock valued at $1,940,464,000 after buying an additional 491,861 shares during the last quarter. Institutional investors and hedge funds own 87.18% of the company's stock.

ServiceNow Stock Performance

NYSE:NOW traded up $0.75 during trading hours on Tuesday, reaching $960.66. 261,938 shares of the company's stock were exchanged, compared to its average volume of 1,481,567. The firm has a market capitalization of $198.84 billion, a price-to-earnings ratio of 130.69, a P/E/G ratio of 4.43 and a beta of 0.94. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.15. ServiceNow, Inc. has a 1-year low of $678.66 and a 1-year high of $1,198.09. The company has a 50-day moving average of $1,006.53 and a 200 day moving average of $955.01.

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

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Jefferies Financial Group cut their price objective on ServiceNow from $1,250.00 to $1,025.00 and set a "buy" rating on the stock in a research note on Tuesday, April 15th. Stifel Nicolaus increased their price objective on ServiceNow from $975.00 to $1,050.00 and gave the stock a "buy" rating in a report on Tuesday, May 6th. Robert W. Baird raised their price objective on ServiceNow from $1,010.00 to $1,150.00 and gave the company an "outperform" rating in a report on Thursday, April 24th. Oppenheimer restated an "outperform" rating and issued a $1,100.00 price objective (up previously from $970.00) on shares of ServiceNow in a research note on Tuesday, May 6th. Finally, BMO Capital Markets increased their price objective on ServiceNow from $1,025.00 to $1,150.00 and gave the stock an "outperform" rating in a research report on Wednesday, May 14th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, thirty have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $1,079.58.

Insider Transactions at ServiceNow

In other ServiceNow news, Director Deborah Black sold 598 shares of the business's stock in a transaction dated Friday, April 25th. The shares were sold at an average price of $940.23, for a total value of $562,257.54. Following the sale, the director directly owned 428 shares in the company, valued at approximately $402,418.44. The trade was a 58.28% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jonathan Chadwick sold 770 shares of the business's stock in a transaction dated Monday, April 28th. The stock was sold at an average price of $931.62, for a total value of $717,347.40. Following the sale, the director owned 3,205 shares in the company, valued at approximately $2,985,842.10. The trade was a 19.37% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 6,601 shares of company stock valued at $6,577,363 over the last quarter. Insiders own 0.38% of the company's stock.

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.

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.