Slow Capital Inc. Has $9.08 Million Holdings in ServiceNow, Inc. (NYSE:NOW)

Slow Capital Inc. boosted its position in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 93.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,408 shares of the information technology services provider's stock after acquiring an additional 5,520 shares during the quarter. ServiceNow accounts for approximately 1.2% of Slow Capital Inc.'s investment portfolio, making the stock its 19th biggest holding. Slow Capital Inc.'s holdings in ServiceNow were worth $9,082,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in NOW. Edgestream Partners L.P. acquired a new stake in ServiceNow during the 1st quarter valued at $13,132,000. Leelyn Smith LLC lifted its stake in shares of ServiceNow by 1.9% during the 1st quarter. Leelyn Smith LLC now owns 2,545 shares of the information technology services provider's stock worth $2,026,000 after buying an additional 48 shares during the last quarter. Florida Financial Advisors LLC lifted its stake in shares of ServiceNow by 25.1% during the 1st quarter. Florida Financial Advisors LLC now owns 259 shares of the information technology services provider's stock worth $206,000 after buying an additional 52 shares during the last quarter. Zullo Investment Group Inc. boosted its holdings in shares of ServiceNow by 2.1% during the 1st quarter. Zullo Investment Group Inc. now owns 917 shares of the information technology services provider's stock worth $730,000 after buying an additional 19 shares during the period. Finally, CWM LLC grew its stake in ServiceNow by 51.2% in the 1st quarter. CWM LLC now owns 9,155 shares of the information technology services provider's stock valued at $7,289,000 after buying an additional 3,099 shares during the last quarter. Institutional investors and hedge funds own 87.18% of the company's stock.

Insider Buying and Selling at ServiceNow

In other news, CEO William R. Mcdermott sold 2,050 shares of the company's stock in a transaction dated Friday, May 30th. The shares were 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 owned 6,614 shares in the company, valued at approximately $6,693,434.14. This represents a 23.66% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jonathan Chadwick sold 770 shares of the firm's stock in a transaction dated Monday, April 28th. The shares were sold at an average price of $931.62, for a total value of $717,347.40. Following the completion of the sale, the director owned 3,205 shares of the company's stock, valued at approximately $2,985,842.10. This represents a 19.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 6,955 shares of company stock valued at $6,862,195 over the last 90 days. Insiders own 0.38% of the company's stock.

ServiceNow Trading Up 2.5%

NOW stock traded up $23.10 during midday trading on Monday, hitting $961.88. The stock had a trading volume of 1,812,471 shares, compared to its average volume of 1,699,326. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.15. The firm has a market cap of $199.09 billion, a P/E ratio of 130.69, a price-to-earnings-growth ratio of 4.31 and a beta of 0.94. The business has a fifty day moving average price of $1,008.08 and a two-hundred day moving average price of $958.61. ServiceNow, Inc. has a 1-year low of $678.66 and a 1-year high of $1,198.09.

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

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. JMP Securities reaffirmed a "market outperform" rating and issued a $1,300.00 target price on shares of ServiceNow in a research report on Tuesday, May 6th. JPMorgan Chase & Co. lowered their price objective on ServiceNow from $1,200.00 to $970.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 22nd. Barclays set a $1,085.00 target price on ServiceNow in a report on Wednesday, May 7th. DA Davidson assumed coverage on shares of ServiceNow in a research note on Wednesday, June 25th. They issued a "buy" rating and a $1,150.00 price target on the stock. Finally, Guggenheim reiterated a "sell" rating and issued a $724.00 price objective on shares of ServiceNow in a research note on Tuesday, July 8th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, thirty-one have given a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $1,068.23.

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.