Stratos Investment Management LLC Invests $469,000 in ServiceNow, Inc. (NYSE:NOW)

Stratos Investment Management LLC acquired a new stake in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 589 shares of the information technology services provider's stock, valued at approximately $469,000.

A number of other hedge funds also recently bought and sold shares of NOW. GAMMA Investing LLC lifted its position in shares of ServiceNow by 87,501.3% in the first quarter. GAMMA Investing LLC now owns 2,689,361 shares of the information technology services provider's stock worth $2,141,108,000 after purchasing an additional 2,686,291 shares in the last quarter. Norges Bank purchased a new stake in shares of ServiceNow in the fourth quarter worth approximately $2,603,360,000. Price T Rowe Associates Inc. MD raised its position in ServiceNow by 6.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 7,955,924 shares of the information technology services provider's stock valued at $8,434,235,000 after acquiring an additional 509,467 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its position in ServiceNow by 36.7% during the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 1,830,419 shares of the information technology services provider's stock valued at $1,940,464,000 after acquiring an additional 491,861 shares in the last quarter. Finally, Cohen Investment Advisors LLC raised its position in ServiceNow by 7,971.1% during the first quarter. Cohen Investment Advisors LLC now owns 353,597 shares of the information technology services provider's stock valued at $281,513,000 after acquiring an additional 349,216 shares in the last quarter. 87.18% of the stock is owned by hedge funds and other institutional investors.

ServiceNow Price Performance

Shares of NYSE NOW traded down $30.97 during midday trading on Friday, reaching $937.12. 2,144,933 shares of the company traded hands, compared to its average volume of 1,483,800. The firm has a market cap of $193.97 billion, a PE ratio of 127.33, a PEG ratio of 4.45 and a beta of 0.94. The stock's 50-day simple moving average is $1,008.08 and its 200-day simple moving average is $960.59. ServiceNow, Inc. has a 12 month low of $678.66 and a 12 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.

ServiceNow (NYSE:NOW - Get Free Report) last released 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 17.34% 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 period in the previous year, the business posted $3.41 earnings per share. The firm'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 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Bank of America cut their price objective on shares of ServiceNow from $1,280.00 to $1,025.00 and set a "buy" rating on the stock in a research report on Tuesday, April 15th. UBS Group reaffirmed a "buy" rating and set a $1,025.00 price objective (up previously from $900.00) on shares of ServiceNow in a research report on Thursday, April 24th. Barclays set a $1,085.00 price objective on shares of ServiceNow in a research report on Wednesday, May 7th. Scotiabank set a $1,100.00 price objective on shares of ServiceNow and gave the company an "outperform" rating in a research report on Wednesday, May 7th. Finally, Stifel Nicolaus raised their price objective on shares of ServiceNow from $975.00 to $1,050.00 and gave the company a "buy" rating in a research report on Tuesday, May 6th. One analyst has rated the stock with a sell rating, three have given a hold rating, thirty have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $1,068.23.

Insiders Place Their Bets

In related news, Director Jonathan Chadwick sold 770 shares of ServiceNow stock in a transaction dated Monday, April 28th. The stock was sold at an average price of $931.62, for a total value of $717,347.40. Following the completion of the sale, the director directly owned 3,205 shares in the company, valued at $2,985,842.10. This trade represents a 19.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Anita M. Sands sold 428 shares of ServiceNow stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $1,013.61, for a total value of $433,825.08. Following the completion of the sale, the director owned 10,891 shares of the company's stock, valued at approximately $11,039,226.51. The trade was a 3.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 6,955 shares of company stock valued at $6,862,195 over the last three months. Company insiders own 0.38% of the company's stock.

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.