Strategic Advisors LLC Has $3.75 Million Stock Holdings in ServiceNow, Inc. (NYSE:NOW)

Strategic Advisors LLC grew its position in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 25.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,707 shares of the information technology services provider's stock after purchasing an additional 950 shares during the period. ServiceNow accounts for about 0.7% of Strategic Advisors LLC's investment portfolio, making the stock its 29th largest position. Strategic Advisors LLC's holdings in ServiceNow were worth $3,747,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Quarry LP acquired a new position in shares of ServiceNow during the 4th quarter valued at about $27,000. Atala Financial Inc purchased a new stake in ServiceNow in the fourth quarter valued at approximately $28,000. LFA Lugano Financial Advisors SA purchased a new stake in ServiceNow in the fourth quarter valued at approximately $32,000. FPC Investment Advisory Inc. increased its position in ServiceNow by 725.0% during the fourth quarter. FPC Investment Advisory Inc. now owns 33 shares of the information technology services provider's stock worth $34,000 after purchasing an additional 29 shares during the last quarter. Finally, Noble Wealth Management PBC purchased a new position in ServiceNow during the fourth quarter worth approximately $34,000. 87.18% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at ServiceNow

In related news, Director Anita M. Sands sold 428 shares of the firm's stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $1,013.61, for a total value of $433,825.08. Following the completion of the transaction, the director now owns 10,891 shares of the company's stock, valued at approximately $11,039,226.51. This trade represents a 3.78% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO William R. Mcdermott sold 2,050 shares of the stock in a transaction dated Friday, May 30th. The stock was 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 of the company's stock, valued at approximately $6,693,434.14. This represents a 23.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 6,716 shares of company stock valued at $6,611,245. Company insiders own 0.38% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on NOW shares. Stifel Nicolaus upped their price objective on ServiceNow from $975.00 to $1,050.00 and gave the stock a "buy" rating in a report on Tuesday, May 6th. Piper Sandler lowered their price target on ServiceNow from $1,200.00 to $1,120.00 and set an "overweight" rating for the company in a research report on Thursday, April 24th. Robert W. Baird raised their price objective on ServiceNow from $1,010.00 to $1,150.00 and gave the stock an "outperform" rating in a report on Thursday, April 24th. Canaccord Genuity Group decreased their target price on ServiceNow from $1,275.00 to $900.00 and set a "buy" rating for the company in a report on Tuesday, April 22nd. Finally, Erste Group Bank raised shares of ServiceNow from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, April 30th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-nine have issued a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $1,062.50.

ServiceNow Stock Performance

NOW stock traded down $12.31 during trading on Friday, hitting $969.78. 2,004,279 shares of the company's stock traded hands, compared to its average volume of 1,483,544. The stock has a market capitalization of $200.72 billion, a price-to-earnings ratio of 131.76, a price-to-earnings-growth ratio of 4.53 and a beta of 0.95. ServiceNow, Inc. has a 52 week low of $678.66 and a 52 week high of $1,198.09. The stock has a fifty day moving average price of $960.74 and a two-hundred day moving average price of $971.98. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.15.

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 for the quarter, beating analysts' consensus estimates of $3.78 by $0.26. ServiceNow had a net margin of 13.41% and a return on equity of 17.34%. The business had revenue of $3.09 billion during the quarter, compared to the consensus estimate of $3.09 billion. During the same quarter in the prior year, the firm earned $3.41 EPS. The company's revenue for the quarter was up 18.6% compared to the same quarter last year. As a group, equities analysts anticipate that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

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.