Triasima Portfolio Management inc. Purchases 1,694 Shares of ServiceNow, Inc. (NYSE:NOW)

Triasima Portfolio Management inc. raised its position in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 44.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 5,487 shares of the information technology services provider's stock after purchasing an additional 1,694 shares during the period. Triasima Portfolio Management inc.'s holdings in ServiceNow were worth $4,368,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Janus Henderson Group PLC boosted its holdings 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 acquiring an additional 12,533 shares during the period. FMR LLC boosted its holdings in shares of ServiceNow by 4.9% in the fourth quarter. FMR LLC now owns 5,878,900 shares of the information technology services provider's stock worth $6,232,339,000 after acquiring an additional 272,506 shares during the period. Parr Mcknight Wealth Management Group LLC bought a new position in shares of ServiceNow in the first quarter worth $1,820,000. Nicholas Investment Partners LP boosted its holdings in shares of 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. Finally, OMNI 360 Wealth Inc. bought a new stake in ServiceNow during the first quarter valued at $285,000. 87.18% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts recently issued reports on NOW shares. Canaccord Genuity Group dropped their price objective on ServiceNow from $1,275.00 to $900.00 and set a "buy" rating for the company in a research note on Tuesday, April 22nd. Sanford C. Bernstein reissued an "outperform" rating and set a $1,003.00 price objective on shares of ServiceNow in a research note on Thursday, April 24th. Needham & Company LLC reaffirmed a "buy" rating and set a $1,050.00 price target on shares of ServiceNow in a research note on Tuesday, May 6th. Citigroup upped their price objective on ServiceNow from $1,128.00 to $1,160.00 and gave the stock a "buy" rating in a report on Wednesday, May 7th. Finally, Bank of America upped their price objective on ServiceNow from $1,085.00 to $1,110.00 and gave the stock a "buy" rating in a report on Friday. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, thirty-one have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $1,075.87.

ServiceNow Stock Down 0.1%

NYSE NOW traded down $1.06 during trading on Friday, reaching $958.10. The company's stock had a trading volume of 489,382 shares, compared to its average volume of 1,484,259. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.15. The stock has a market capitalization of $198.31 billion, a PE ratio of 129.86, a PEG ratio of 4.44 and a beta of 0.94. The business has a 50-day moving average price of $1,006.88 and a 200-day moving average price of $957.08. ServiceNow, Inc. has a 1-year low of $678.66 and a 1-year high of $1,198.09.

ServiceNow (NYSE:NOW - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The information technology services provider reported $4.04 EPS 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 company had revenue of $3.09 billion for the quarter, compared to analyst estimates of $3.09 billion. During the same quarter last year, the firm posted $3.41 earnings per share. The company's quarterly revenue was up 18.6% compared to the same quarter last year. On average, research analysts forecast that ServiceNow, Inc. will post 8.93 earnings per share for the current fiscal year.

Insider Buying and Selling at ServiceNow

In other ServiceNow news, CEO William R. Mcdermott sold 2,050 shares of ServiceNow stock in a transaction on Friday, May 30th. The shares were sold at an average price of $1,012.01, for a total transaction of $2,074,620.50. Following the sale, the chief executive officer owned 6,614 shares in the company, valued at $6,693,434.14. The trade was a 23.66% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, 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 transaction of $717,347.40. Following the sale, the director owned 3,205 shares in the company, valued at $2,985,842.10. This represents a 19.37% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 6,601 shares of company stock valued at $6,577,363 in the last three months. 0.38% of the stock is owned by insiders.

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.