751 Shares in ServiceNow, Inc. (NYSE:NOW) Acquired by USA Financial Formulas

USA Financial Formulas bought a new position in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 751 shares of the information technology services provider's stock, valued at approximately $598,000.

A number of other hedge funds also recently bought and sold shares of the stock. Vanguard Group Inc. lifted its holdings in ServiceNow by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 19,199,258 shares of the information technology services provider's stock worth $20,353,517,000 after buying an additional 190,430 shares during the period. Price T Rowe Associates Inc. MD increased its position in shares of 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 worth $8,434,235,000 after purchasing an additional 509,467 shares in the last quarter. FMR LLC increased its position in shares of ServiceNow by 4.9% during 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 purchasing an additional 272,506 shares in the last quarter. Geode Capital Management LLC increased its position in shares of ServiceNow by 2.4% during the fourth quarter. Geode Capital Management LLC now owns 4,312,571 shares of the information technology services provider's stock worth $4,560,890,000 after purchasing an additional 100,670 shares in the last quarter. Finally, GAMMA Investing LLC increased its position in shares of ServiceNow by 87,501.3% during 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. Hedge funds and other institutional investors own 87.18% of the company's stock.

ServiceNow Price Performance

NOW stock traded up $1.70 during mid-day trading on Thursday, reaching $1,006.03. The company's stock had a trading volume of 846,899 shares, compared to its average volume of 1,480,445. The stock has a market cap of $208.23 billion, a PE ratio of 147.30, a P/E/G ratio of 4.51 and a beta of 0.95. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.15. ServiceNow, Inc. has a fifty-two week low of $678.66 and a fifty-two week high of $1,198.09. The company's 50 day moving average is $939.30 and its two-hundred day moving average is $974.01.

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

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on NOW. Bank of America reduced their price target on 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. Jefferies Financial Group reduced their price target on ServiceNow from $1,250.00 to $1,025.00 and set a "buy" rating on the stock in a research report on Tuesday, April 15th. Mizuho upped their price target on ServiceNow from $1,050.00 to $1,100.00 and gave the stock an "outperform" rating in a research report on Thursday. Raymond James reduced their price target on ServiceNow from $1,200.00 to $1,000.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 8th. Finally, Cantor Fitzgerald reissued an "overweight" rating and issued a $1,048.00 target price on shares of ServiceNow in a research report on Thursday, April 24th. One equities research 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 issued a strong buy rating to the company's stock. According to MarketBeat.com, ServiceNow currently has a consensus rating of "Moderate Buy" and a consensus target price of $1,062.50.

Insider Buying and Selling at ServiceNow

In other news, CEO William R. Mcdermott sold 2,050 shares of the firm's stock in a transaction that occurred 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 completion of the sale, the chief executive officer now owns 6,614 shares in the company, valued at $6,693,434.14. This trade represents a 23.66% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jacqueline P. Canney sold 66 shares of the firm'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 transaction of $67,518.00. Following the sale, the insider now owns 3,027 shares of the company's stock, valued at $3,096,621. This represents a 2.13% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 6,716 shares of company stock worth $6,611,245. Insiders own 0.38% of the company's stock.

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.