Tritonpoint Wealth LLC Raises Stake in ServiceNow, Inc. (NYSE:NOW)

Tritonpoint Wealth LLC lifted its position in ServiceNow, Inc. (NYSE:NOW - Free Report) by 281.5% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,964 shares of the information technology services provider's stock after acquiring an additional 2,187 shares during the period. Tritonpoint Wealth LLC's holdings in ServiceNow were worth $2,360,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Analyst Ratings Changes

Several research analysts recently weighed in on NOW shares. TD Securities restated a "buy" rating and set a $1,100.00 price target on shares of ServiceNow in a research report on Thursday, April 24th. Barclays set a $1,085.00 price objective on ServiceNow in a research note on Wednesday, May 7th. Wells Fargo & Company raised their target price on ServiceNow from $1,100.00 to $1,150.00 and gave the stock an "overweight" rating in a research note on Thursday, April 24th. Raymond James dropped their price objective on shares of ServiceNow from $1,200.00 to $1,000.00 and set an "outperform" rating for the company in a report on Tuesday, April 8th. Finally, Erste Group Bank upgraded shares of ServiceNow from a "hold" rating to a "strong-buy" rating in a report on Wednesday, April 30th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-nine have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, ServiceNow presently has a consensus rating of "Moderate Buy" and a consensus price target of $1,062.50.

ServiceNow Stock Performance

NOW stock traded down $19.66 during trading on Friday, hitting $987.71. The company had a trading volume of 1,332,159 shares, compared to its average volume of 1,483,399. The firm has a market cap of $204.44 billion, a PE ratio of 144.61, a price-to-earnings-growth ratio of 4.51 and a beta of 0.95. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.15. ServiceNow, Inc. has a 1-year low of $678.66 and a 1-year high of $1,198.09. The firm has a 50-day moving average price of $944.56 and a 200-day moving average price of $972.97.

ServiceNow (NYSE:NOW - Get Free Report) last posted its quarterly 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 net margin of 12.97% and a return on equity of 17.11%. The firm had revenue of $3.09 billion during the quarter, compared to analysts' expectations of $3.09 billion. During the same period in the prior year, the company posted $3.41 earnings per share. The firm's revenue for the quarter was up 18.6% on a year-over-year basis. On average, analysts expect that ServiceNow, Inc. will post 8.93 earnings per share for the current year.

Insider Buying and Selling

In other ServiceNow news, CEO William R. Mcdermott sold 2,050 shares of the business's stock in a transaction on Friday, May 30th. The stock was 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 now directly owns 6,614 shares in the company, valued at approximately $6,693,434.14. The trade was a 23.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Vice Chairman Nicholas Tzitzon sold 1,171 shares of the business's stock in a transaction dated Friday, May 30th. The stock was sold at an average price of $1,020.00, for a total transaction of $1,194,420.00. Following the completion of the sale, the insider now owns 3,000 shares in the company, valued at $3,060,000. This represents a 28.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 6,716 shares of company stock valued at $6,611,245 over the last quarter. 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.