Smith Anglin Financial LLC Invests $269,000 in ServiceNow, Inc. (NYSE:NOW)

Smith Anglin Financial LLC purchased a new stake in ServiceNow, Inc. (NYSE:NOW - Free Report) in the 1st quarter, according to its most recent filing with the SEC. The fund purchased 338 shares of the information technology services provider's stock, valued at approximately $269,000.

Other large investors also recently made changes to their positions in the company. Brighton Jones LLC boosted its holdings in shares of ServiceNow by 1.1% in the 4th quarter. Brighton Jones LLC now owns 2,753 shares of the information technology services provider's stock valued at $2,919,000 after purchasing an additional 30 shares during the last quarter. Union Bancaire Privee UBP SA acquired a new position in shares of ServiceNow during the fourth quarter worth about $48,802,000. Heck Capital Advisors LLC purchased a new stake in shares of ServiceNow during the 4th quarter valued at about $37,000. U.S. Capital Wealth Advisors LLC grew its position in ServiceNow by 126.6% in the fourth quarter. U.S. Capital Wealth Advisors LLC now owns 1,752 shares of the information technology services provider's stock valued at $1,857,000 after acquiring an additional 979 shares in the last quarter. Finally, Stock Yards Bank & Trust Co. grew its holdings in ServiceNow by 22.1% during the 4th quarter. Stock Yards Bank & Trust Co. now owns 276 shares of the information technology services provider's stock valued at $293,000 after purchasing an additional 50 shares in the last quarter. Hedge funds and other institutional investors own 87.18% of the company's stock.

ServiceNow Price Performance

Shares of NYSE:NOW traded up $5.07 during trading on Thursday, reaching $1,017.81. The company had a trading volume of 902,286 shares, compared to its average volume of 1,490,366. The firm's fifty day moving average is $910.63 and its 200 day moving average is $974.82. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.10 and a current ratio of 1.10. The firm has a market capitalization of $210.67 billion, a PE ratio of 149.02, a price-to-earnings-growth ratio of 4.51 and a beta of 0.97. ServiceNow, Inc. has a twelve month low of $676.19 and a twelve month high of $1,198.09.

ServiceNow (NYSE:NOW - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The information technology services provider reported $4.04 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to analyst estimates of $3.09 billion. During the same period last year, the company posted $3.41 EPS. The firm's quarterly revenue was up 18.6% on a year-over-year basis. On average, equities analysts forecast that ServiceNow, Inc. will post 8.93 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts recently commented on NOW shares. Wall Street Zen upgraded ServiceNow from a "hold" rating to a "buy" rating in a research note on Sunday. Morgan Stanley boosted their price target on ServiceNow from $881.00 to $950.00 and gave the company an "equal weight" rating in a report on Thursday, April 24th. Piper Sandler dropped their price target on ServiceNow from $1,200.00 to $1,120.00 and set an "overweight" rating on the stock in a research report on Thursday, April 24th. TD Securities reaffirmed a "buy" rating and issued a $1,100.00 price objective on shares of ServiceNow in a report on Thursday, April 24th. Finally, Scotiabank set a $1,100.00 target price on shares of ServiceNow and gave the stock an "outperform" rating in a report on Wednesday, May 7th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, thirty have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $1,062.50.

Insider Activity at ServiceNow

In other ServiceNow news, insider Jacqueline P. Canney sold 354 shares of the company'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 transaction, the insider now owns 3,027 shares of the company's stock, valued at approximately $2,435,554.47. This represents a 10.47% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO William R. Mcdermott sold 2,050 shares of the stock in a transaction 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 sale, the chief executive officer now owns 6,614 shares of the company's stock, valued at $6,693,434.14. This trade 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 over the last 90 days. 0.38% of the stock is currently owned by corporate insiders.

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.