ServiceNow, Inc. (NYSE:NOW) Stake Boosted by Simplicity Wealth LLC

Simplicity Wealth LLC lifted its position in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 294.5% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,495 shares of the information technology services provider's stock after purchasing an additional 1,116 shares during the period. Simplicity Wealth LLC's holdings in ServiceNow were worth $1,190,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in NOW. Quarry LP acquired a new position in ServiceNow in the 4th quarter valued at about $27,000. Atala Financial Inc bought a new stake in shares of ServiceNow during the 4th quarter worth $28,000. LFA Lugano Financial Advisors SA purchased a new stake in ServiceNow in the 4th quarter worth approximately $32,000. FPC Investment Advisory Inc. lifted its position in shares of ServiceNow by 725.0% in the fourth quarter. FPC Investment Advisory Inc. now owns 33 shares of the information technology services provider's stock worth $34,000 after buying an additional 29 shares during the last quarter. Finally, Noble Wealth Management PBC acquired a new stake in shares of ServiceNow in the fourth quarter worth $34,000. Institutional investors and hedge funds own 87.18% of the company's stock.

ServiceNow Trading Up 0.3%

Shares of NOW stock traded up $2.70 on Thursday, hitting $1,007.03. 208,123 shares of the stock traded hands, compared to its average volume of 1,477,336. The firm's 50-day moving average price is $933.88 and its two-hundred day moving average price is $974.34. The stock has a market capitalization of $208.44 billion, a PE ratio of 147.44, a PEG ratio of 4.51 and a beta of 0.95. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.10 and a current ratio of 1.10. ServiceNow, Inc. has a twelve month low of $678.66 and a twelve month high of $1,198.09.

ServiceNow (NYSE:NOW - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The information technology services provider reported $4.04 EPS for the quarter, beating the consensus estimate of $3.78 by $0.26. The business had revenue of $3.09 billion during the quarter, compared to analyst estimates of $3.09 billion. ServiceNow had a net margin of 12.97% and a return on equity of 17.11%. The business's revenue for the quarter was up 18.6% compared to the same quarter last year. During the same quarter last year, the firm posted $3.41 earnings per share. As a group, analysts anticipate that ServiceNow, Inc. will post 8.93 EPS for the current year.

Insiders Place Their Bets

In other ServiceNow news, Director Anita M. Sands sold 428 shares of the company's stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $1,013.61, for a total transaction of $433,825.08. Following the completion of the sale, the director now directly owns 10,891 shares of the company's stock, valued at $11,039,226.51. This represents a 3.78% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO William R. Mcdermott sold 2,050 shares of ServiceNow stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $1,012.01, for a total value of $2,074,620.50. Following the completion of the sale, the chief executive officer now directly owns 6,614 shares in the company, valued at $6,693,434.14. This represents a 23.66% decrease in their position. The disclosure for this sale can be found here. Insiders sold 6,716 shares of company stock valued at $6,611,245 in the last ninety days. Insiders own 0.38% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on NOW. Evercore ISI increased their target price on shares of ServiceNow from $925.00 to $1,000.00 and gave the stock an "outperform" rating in a research report on Thursday, April 24th. Guggenheim lifted their target price on ServiceNow from $716.00 to $724.00 and gave the company a "sell" rating in a research report on Thursday, April 24th. Sanford C. Bernstein restated an "outperform" rating and issued a $1,003.00 price target on shares of ServiceNow in a research note on Thursday, April 24th. Truist Financial raised shares of ServiceNow from a "hold" rating to a "buy" rating and raised their target price for the stock from $950.00 to $1,200.00 in a report on Thursday, May 1st. Finally, Bank of America reduced their price objective on ServiceNow from $1,280.00 to $1,025.00 and set a "buy" rating on the stock in a research note on Tuesday, April 15th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-nine have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $1,062.50.

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.