World Investment Advisors Grows Position in ServiceNow, Inc. (NYSE:NOW)

World Investment Advisors boosted its stake in ServiceNow, Inc. (NYSE:NOW - Free Report) by 77.2% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 11,962 shares of the information technology services provider's stock after purchasing an additional 5,210 shares during the quarter. World Investment Advisors' holdings in ServiceNow were worth $9,523,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. Quarry LP purchased a new position in ServiceNow during the 4th quarter valued at approximately $27,000. Atala Financial Inc bought a new position in shares of ServiceNow during the 4th quarter valued at approximately $28,000. LFA Lugano Financial Advisors SA purchased a new position in shares of ServiceNow in the fourth quarter valued at $32,000. Heck Capital Advisors LLC bought a new stake in ServiceNow in the fourth quarter worth $37,000. Finally, Cassady Schiller Wealth Management LLC raised its stake 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. Hedge funds and other institutional investors own 87.18% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently commented on the company. William Blair reiterated an "outperform" rating on shares of ServiceNow in a research report on Friday, March 7th. Jefferies Financial Group dropped their target price on ServiceNow from $1,250.00 to $1,025.00 and set a "buy" rating for the company in a report on Tuesday, April 15th. UBS Group restated a "buy" rating and set a $1,025.00 price target (up previously from $900.00) on shares of ServiceNow in a report on Thursday, April 24th. Oppenheimer reaffirmed an "outperform" rating and set a $1,100.00 price target (up from $970.00) on shares of ServiceNow in a research note on Tuesday, May 6th. Finally, FBN Securities upgraded shares of ServiceNow to a "strong-buy" rating in a report on Wednesday, June 11th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, thirty have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $1,068.23.

Insider Buying and Selling at ServiceNow

In other ServiceNow news, Director Anita M. Sands sold 428 shares of ServiceNow stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $1,013.61, for a total value of $433,825.08. Following the completion of the transaction, the director owned 10,891 shares of the company's stock, valued at $11,039,226.51. The trade was a 3.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Vice Chairman Nicholas Tzitzon sold 1,171 shares of ServiceNow stock in a transaction dated Friday, May 30th. The shares were 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 owned 3,000 shares in the company, valued at approximately $3,060,000. This represents a 28.07% 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 valued at $6,611,245. Corporate insiders own 0.38% of the company's stock.

ServiceNow Trading Up 3.6%

Shares of NOW stock opened at $1,046.03 on Friday. The firm's 50 day moving average price is $1,003.94 and its two-hundred day moving average price is $963.64. The company has a quick ratio of 1.12, a current ratio of 1.12 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 stock has a market cap of $216.51 billion, a price-to-earnings ratio of 142.12, a price-to-earnings-growth ratio of 4.80 and a beta of 0.94.

ServiceNow (NYSE:NOW - Get Free Report) last released 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 13.41% and a return on equity of 17.34%. The firm had revenue of $3.09 billion for the quarter, compared to the consensus estimate of $3.09 billion. During the same quarter in the previous year, the firm posted $3.41 EPS. The firm's quarterly revenue was up 18.6% on a year-over-year basis. On average, analysts anticipate that ServiceNow, Inc. will post 8.93 EPS for the current year.

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.

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