Talbot Financial LLC Raises Stock Holdings in ServiceNow, Inc. (NYSE:NOW)

Talbot Financial LLC increased its holdings in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 2.2% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,773 shares of the information technology services provider's stock after buying an additional 249 shares during the period. Talbot Financial LLC's holdings in ServiceNow were worth $9,373,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in NOW. Avidian Wealth Enterprises LLC grew its holdings in shares of ServiceNow by 1.8% in the fourth quarter. Avidian Wealth Enterprises LLC now owns 497 shares of the information technology services provider's stock worth $527,000 after acquiring an additional 9 shares during the period. TBH Global Asset Management LLC lifted its position in ServiceNow by 3.8% during the fourth quarter. TBH Global Asset Management LLC now owns 302 shares of the information technology services provider's stock valued at $320,000 after purchasing an additional 11 shares in the last quarter. Onefund LLC lifted its position in ServiceNow by 2.0% during the fourth quarter. Onefund LLC now owns 552 shares of the information technology services provider's stock valued at $585,000 after purchasing an additional 11 shares in the last quarter. Cassady Schiller Wealth Management LLC lifted its position in ServiceNow by 44.0% during the fourth quarter. Cassady Schiller Wealth Management LLC now owns 36 shares of the information technology services provider's stock valued at $38,000 after purchasing an additional 11 shares in the last quarter. Finally, Valley Brook Capital Group Inc. lifted its position in ServiceNow by 2.7% during the fourth quarter. Valley Brook Capital Group Inc. now owns 459 shares of the information technology services provider's stock valued at $487,000 after purchasing an additional 12 shares in the last quarter. 87.18% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

NOW has been the topic of several analyst reports. Cantor Fitzgerald reiterated an "overweight" rating and set a $1,048.00 target price on shares of ServiceNow in a research report on Thursday, April 24th. Canaccord Genuity Group lowered their price objective on ServiceNow from $1,275.00 to $900.00 and set a "buy" rating on the stock in a research report on Tuesday, April 22nd. Royal Bank of Canada boosted their price objective on ServiceNow from $1,060.00 to $1,100.00 and gave the company an "outperform" rating in a research report on Tuesday, May 6th. Wells Fargo & Company boosted their price objective on ServiceNow from $1,100.00 to $1,150.00 and gave the company an "overweight" rating in a research report on Thursday, April 24th. Finally, Guggenheim boosted their price objective on ServiceNow from $716.00 to $724.00 and gave the company a "sell" rating in a research report on Thursday, April 24th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, thirty have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, ServiceNow has an average rating of "Moderate Buy" and a consensus price target of $1,062.50.

ServiceNow Trading Down 0.0%

Shares of NYSE NOW traded down $0.11 during mid-day trading on Monday, reaching $1,010.98. The company had a trading volume of 1,001,802 shares, compared to its average volume of 1,503,330. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.15. The stock has a market cap of $209.26 billion, a price-to-earnings ratio of 148.02, a price-to-earnings-growth ratio of 4.51 and a beta of 0.97. The business's 50-day moving average is $899.20 and its 200-day moving average is $974.30. ServiceNow, Inc. has a 52 week low of $645.45 and a 52 week high of $1,198.09.

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, topping the consensus estimate of $3.78 by $0.26. ServiceNow had a return on equity of 17.11% and a net margin of 12.97%. The company had revenue of $3.09 billion for the quarter, compared to analysts' expectations of $3.09 billion. During the same quarter in the prior year, the firm earned $3.41 earnings per share. ServiceNow's revenue was up 18.6% compared to the same quarter last year. Equities analysts expect that ServiceNow, Inc. will post 8.93 earnings per share for the current year.

Insider Activity at ServiceNow

In other news, Director Jonathan Chadwick sold 770 shares of ServiceNow stock in a transaction on Monday, April 28th. The stock was sold at an average price of $931.62, for a total value of $717,347.40. Following the transaction, the director now directly owns 3,205 shares in the company, valued at approximately $2,985,842.10. This trade represents a 19.37% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, General Counsel Russell S. Elmer sold 62 shares of the company's stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $1,023.00, for a total value of $63,426.00. Following the sale, the general counsel now owns 4,332 shares of the company's stock, valued at $4,431,636. This trade represents a 1.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 3,102 shares of company stock worth $2,944,038 over the last three months. 0.38% of the stock is 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.