Trifecta Capital Advisors LLC Grows Position in ServiceNow, Inc. (NYSE:NOW)

Trifecta Capital Advisors LLC grew its position in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 3.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,470 shares of the information technology services provider's stock after purchasing an additional 299 shares during the quarter. ServiceNow makes up about 1.4% of Trifecta Capital Advisors LLC's portfolio, making the stock its 23rd biggest holding. Trifecta Capital Advisors LLC's holdings in ServiceNow were worth $6,743,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. Quarry LP acquired a new position in shares of ServiceNow in the fourth quarter worth about $27,000. Atala Financial Inc purchased a new position in shares of ServiceNow in the 4th quarter valued at about $28,000. LFA Lugano Financial Advisors SA purchased a new position in shares of ServiceNow in the 4th quarter valued at about $32,000. FPC Investment Advisory Inc. raised its holdings in ServiceNow by 725.0% in the 4th 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 period. 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 institutional investors and hedge funds.

ServiceNow Stock Down 2.4%

Shares of NYSE NOW opened at $980.29 on Thursday. The company has a market capitalization of $202.90 billion, a P/E ratio of 133.19, a P/E/G ratio of 4.63 and a beta of 0.95. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.12 and a quick ratio of 1.12. The company has a 50 day simple moving average of $956.82 and a 200-day simple moving average of $972.45. 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 posted its earnings results 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 17.34% and a net margin of 13.41%. The company had revenue of $3.09 billion during the quarter, compared to analysts' expectations of $3.09 billion. During the same quarter last year, the firm earned $3.41 earnings per share. The firm's quarterly revenue was up 18.6% compared to the same quarter last year. On average, equities research analysts predict that ServiceNow, Inc. will post 8.93 earnings per share for the current year.

Insider Activity at ServiceNow

In other ServiceNow news, General Counsel Russell S. Elmer sold 62 shares of the business's stock in a transaction that occurred 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. The trade was a 1.41% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Jacqueline P. Canney sold 354 shares of ServiceNow stock in a transaction on Wednesday, April 16th. The shares were sold at an average price of $804.61, for a total value of $284,831.94. Following the completion of the sale, the insider now directly owns 3,027 shares of the company's stock, valued at $2,435,554.47. The trade was a 10.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 6,716 shares of company stock worth $6,611,245. Company insiders own 0.38% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on NOW. Erste Group Bank upgraded ServiceNow from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, April 30th. Jefferies Financial Group dropped their price target on shares of ServiceNow from $1,250.00 to $1,025.00 and set a "buy" rating on the stock in a research note on Tuesday, April 15th. Sanford C. Bernstein restated an "outperform" rating and set a $1,003.00 price objective on shares of ServiceNow in a research report on Thursday, April 24th. FBN Securities raised shares of ServiceNow to a "strong-buy" rating in a report on Wednesday, June 11th. Finally, Canaccord Genuity Group cut their target price on shares of ServiceNow from $1,275.00 to $900.00 and set a "buy" rating for the company in a research note on Tuesday, April 22nd. One analyst has rated the stock with a sell rating, three have given a hold rating, twenty-nine have given a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, ServiceNow has an average rating of "Moderate Buy" and a consensus target price of $1,062.50.

ServiceNow 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.

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