Smith Salley Wealth Management Acquires Shares of 2,275 ServiceNow, Inc. (NYSE:NOW)

Smith Salley Wealth Management acquired a new position in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 2,275 shares of the information technology services provider's stock, valued at approximately $1,811,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Brighton Jones LLC grew its stake in 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 buying an additional 30 shares during the last quarter. Proficio Capital Partners LLC boosted its holdings in shares of ServiceNow by 154,255.3% during the fourth quarter. Proficio Capital Partners LLC now owns 666,815 shares of the information technology services provider's stock worth $667,000 after acquiring an additional 666,383 shares during the period. Private Trust Co. NA grew its position in shares of ServiceNow by 15.2% in the fourth quarter. Private Trust Co. NA now owns 431 shares of the information technology services provider's stock valued at $457,000 after purchasing an additional 57 shares during the last quarter. SVB Wealth LLC bought a new position in shares of ServiceNow during the fourth quarter worth approximately $1,672,000. Finally, Noble Wealth Management PBC bought a new position in shares of ServiceNow during the fourth quarter worth approximately $34,000. 87.18% of the stock is currently owned by institutional investors and hedge funds.

ServiceNow Trading Down 1.6%

Shares of NOW stock traded down $16.16 on Tuesday, hitting $1,011.92. The company had a trading volume of 1,244,066 shares, compared to its average volume of 1,482,329. ServiceNow, Inc. has a twelve month low of $678.66 and a twelve month high of $1,198.09. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.12 and a current ratio of 1.12. The stock's 50-day moving average is $991.05 and its two-hundred day moving average is $964.06. The firm has a market cap of $209.45 billion, a P/E ratio of 137.49, a P/E/G ratio of 4.70 and a beta of 0.96.

ServiceNow (NYSE:NOW - Get Free Report) last announced its quarterly earnings data 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 17.34% and a net margin of 13.41%. The company had revenue of $3.09 billion for the quarter, compared to the consensus estimate of $3.09 billion. During the same period in the previous year, the business earned $3.41 EPS. The firm's revenue was up 18.6% compared to the same quarter last year. On average, equities research analysts anticipate that ServiceNow, Inc. will post 8.93 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have commented on NOW shares. Morgan Stanley upped their price objective on ServiceNow from $881.00 to $950.00 and gave the company an "equal weight" rating in a report on Thursday, April 24th. JPMorgan Chase & Co. decreased their price target on shares of ServiceNow from $1,200.00 to $970.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 22nd. UBS Group reiterated a "buy" rating and issued a $1,025.00 price objective (up previously from $900.00) on shares of ServiceNow in a research note on Thursday, April 24th. Erste Group Bank raised shares of ServiceNow from a "hold" rating to a "strong-buy" rating in a report on Wednesday, April 30th. Finally, Piper Sandler cut their price target on ServiceNow from $1,200.00 to $1,120.00 and set an "overweight" rating for the company in a research note on Thursday, April 24th. One analyst has rated the stock with a sell rating, two have issued a hold rating, thirty-one have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $1,065.32.

Insiders Place Their Bets

In related news, insider Jacqueline P. Canney sold 145 shares of the 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 $147,900.00. Following the transaction, the insider directly owned 3,027 shares of the company's stock, valued at $3,087,540. This represents a 4.57% 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 the SEC website. Also, Vice Chairman Nicholas Tzitzon sold 1,171 shares of ServiceNow 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 directly owned 3,000 shares of the company's stock, valued at approximately $3,060,000. This trade represents a 28.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 6,716 shares of company stock valued at $6,611,245 in the last 90 days. Company insiders own 0.38% of the company's stock.

ServiceNow 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.