Strategic Advisors LLC Purchases 950 Shares of ServiceNow, Inc. (NYSE:NOW)

Strategic Advisors LLC boosted its position in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 25.3% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 4,707 shares of the information technology services provider's stock after buying an additional 950 shares during the quarter. ServiceNow makes up about 0.7% of Strategic Advisors LLC's holdings, making the stock its 29th biggest holding. Strategic Advisors LLC's holdings in ServiceNow were worth $3,747,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Janus Henderson Group PLC grew its stake in shares of ServiceNow by 1.5% in the fourth quarter. Janus Henderson Group PLC now owns 824,725 shares of the information technology services provider's stock worth $874,258,000 after purchasing an additional 12,533 shares during the last quarter. Union Bancaire Privee UBP SA bought a new stake in shares of ServiceNow in the 4th quarter worth approximately $48,802,000. FMR LLC increased its stake in shares of ServiceNow by 4.9% during the fourth quarter. FMR LLC now owns 5,878,900 shares of the information technology services provider's stock valued at $6,232,339,000 after buying an additional 272,506 shares during the period. Duncker Streett & Co. Inc. raised its holdings in shares of ServiceNow by 4.8% during the fourth quarter. Duncker Streett & Co. Inc. now owns 6,376 shares of the information technology services provider's stock valued at $6,759,000 after acquiring an additional 290 shares in the last quarter. Finally, Nicholas Investment Partners LP lifted its stake in ServiceNow by 223.5% in the fourth quarter. Nicholas Investment Partners LP now owns 2,805 shares of the information technology services provider's stock worth $2,974,000 after acquiring an additional 1,938 shares during the period. Hedge funds and other institutional investors own 87.18% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on NOW shares. Oppenheimer reissued an "outperform" rating and set a $1,100.00 price objective (up from $970.00) on shares of ServiceNow in a research report on Tuesday, May 6th. Erste Group Bank upgraded shares of ServiceNow from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, April 30th. JMP Securities reissued a "market outperform" rating and issued a $1,300.00 price target on shares of ServiceNow in a research note on Tuesday, May 6th. Stifel Nicolaus lifted their price objective on ServiceNow from $975.00 to $1,050.00 and gave the company a "buy" rating in a research report on Tuesday, May 6th. Finally, Robert W. Baird upped their target price on ServiceNow from $1,010.00 to $1,150.00 and gave the stock an "outperform" rating in a report on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, twenty-nine have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $1,062.50.

Insider Activity

In other ServiceNow news, Vice Chairman Nicholas Tzitzon sold 1,171 shares of ServiceNow stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $1,020.00, for a total value of $1,194,420.00. Following the completion of the sale, the insider now owns 3,000 shares of the company's stock, valued at approximately $3,060,000. The trade was a 28.07% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, General Counsel Russell S. Elmer sold 62 shares of the stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $1,023.00, for a total value of $63,426.00. Following the transaction, the general counsel now directly owns 4,332 shares in the company, valued at $4,431,636. The trade was a 1.41% decrease in their ownership of the stock. 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 three months. Insiders own 0.38% of the company's stock.

ServiceNow Stock Up 1.7%

NOW stock opened at $1,005.27 on Tuesday. The stock has a market capitalization of $208.07 billion, a P/E ratio of 147.19, a P/E/G ratio of 4.51 and a beta of 0.95. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.10 and a quick ratio of 1.10. ServiceNow, Inc. has a 1-year low of $678.66 and a 1-year high of $1,198.09. The business has a fifty day moving average price of $950.17 and a 200-day moving average price of $972.18.

ServiceNow (NYSE:NOW - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The information technology services provider reported $4.04 earnings per share for the quarter, topping analysts' consensus estimates 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 return on equity of 17.11% and a net margin of 12.97%. ServiceNow's revenue was up 18.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.41 EPS. Equities analysts forecast that ServiceNow, Inc. will post 8.93 earnings per share for the current fiscal year.

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.

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