ServiceNow, Inc. (NYSE:NOW) Stock Position Lifted by FNY Investment Advisers LLC

FNY Investment Advisers LLC boosted its position in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 38.8% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 916 shares of the information technology services provider's stock after buying an additional 256 shares during the quarter. FNY Investment Advisers LLC's holdings in ServiceNow were worth $729,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. TBH Global Asset Management LLC raised its stake in shares of ServiceNow by 3.8% during the 4th quarter. TBH Global Asset Management LLC now owns 302 shares of the information technology services provider's stock worth $320,000 after purchasing an additional 11 shares in the last quarter. Onefund LLC raised its position in shares of ServiceNow by 2.0% during the fourth quarter. Onefund LLC now owns 552 shares of the information technology services provider's stock worth $585,000 after acquiring an additional 11 shares during the last quarter. Cassady Schiller Wealth Management LLC grew its stake in shares of ServiceNow by 44.0% during the fourth quarter. Cassady Schiller Wealth Management LLC now owns 36 shares of the information technology services provider's stock worth $38,000 after purchasing an additional 11 shares during the period. Plancorp LLC grew its stake in shares of ServiceNow by 4.1% during the fourth quarter. Plancorp LLC now owns 308 shares of the information technology services provider's stock worth $327,000 after purchasing an additional 12 shares during the period. Finally, L.M. Kohn & Company grew its stake in ServiceNow by 0.7% in the fourth quarter. L.M. Kohn & Company now owns 1,921 shares of the information technology services provider's stock valued at $2,036,000 after acquiring an additional 13 shares during the period. Institutional investors own 87.18% of the company's stock.

Insider Activity at ServiceNow

In other ServiceNow news, Vice Chairman Nicholas Tzitzon sold 1,171 shares of the business's stock in a transaction on Friday, May 30th. The shares were sold at an average price of $1,020.00, for a total transaction of $1,194,420.00. Following the completion of the sale, the insider now directly owns 3,000 shares in the company, valued at approximately $3,060,000. The trade was a 28.07% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jacqueline P. Canney sold 354 shares of the firm's stock in a transaction on Wednesday, April 16th. The stock was sold at an average price of $804.61, for a total value of $284,831.94. Following the completion of the transaction, the insider now directly owns 3,027 shares in the company, valued at approximately $2,435,554.47. This represents a 10.47% 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 corporate insiders.

Wall Street Analyst Weigh In

NOW has been the topic of several analyst reports. Bank of America dropped their target price on ServiceNow from $1,280.00 to $1,025.00 and set a "buy" rating on the stock in a report on Tuesday, April 15th. Evercore ISI increased their target price on ServiceNow from $925.00 to $1,000.00 and gave the stock an "outperform" rating in a research note on Thursday, April 24th. TD Securities reissued a "buy" rating and set a $1,100.00 price target on shares of ServiceNow in a research report on Thursday, April 24th. JMP Securities restated a "market outperform" rating and set a $1,300.00 price objective on shares of ServiceNow in a research note on Tuesday, May 6th. Finally, Scotiabank set a $1,100.00 price target on ServiceNow and gave the company an "outperform" rating in a research note on Wednesday, May 7th. One analyst has rated the stock with a sell rating, three have given a hold rating, twenty-nine have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $1,062.50.

ServiceNow Stock Performance

Shares of NOW opened at $987.71 on Monday. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.15. The business's 50 day moving average price is $944.56 and its 200-day moving average price is $972.50. 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 $204.44 billion, a P/E ratio of 144.61, a P/E/G ratio of 4.51 and a beta of 0.95.

ServiceNow (NYSE:NOW - Get Free Report) last issued 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. ServiceNow had a return on equity of 17.11% and a net margin of 12.97%. The firm had revenue of $3.09 billion for the quarter, compared to analysts' expectations of $3.09 billion. During the same period in the previous year, the firm posted $3.41 EPS. The business's revenue for the quarter was up 18.6% compared to the same quarter last year. Equities research analysts anticipate that ServiceNow, Inc. will post 8.93 earnings per share for the current fiscal year.

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.

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