Wright Investors Service Inc. Takes $927,000 Position in ServiceNow, Inc. (NYSE:NOW)

Wright Investors Service Inc. 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 Form 13F filing with the Securities & Exchange Commission. The firm bought 1,164 shares of the information technology services provider's stock, valued at approximately $927,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in ServiceNow by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 19,199,258 shares of the information technology services provider's stock valued at $20,353,517,000 after acquiring an additional 190,430 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in ServiceNow by 6.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 7,955,924 shares of the information technology services provider's stock valued at $8,434,235,000 after acquiring an additional 509,467 shares in the last quarter. FMR LLC raised its holdings in ServiceNow by 4.9% in the 4th quarter. FMR LLC now owns 5,878,900 shares of the information technology services provider's stock valued at $6,232,339,000 after acquiring an additional 272,506 shares in the last quarter. Geode Capital Management LLC raised its holdings in ServiceNow by 2.4% in the 4th quarter. Geode Capital Management LLC now owns 4,312,571 shares of the information technology services provider's stock valued at $4,560,890,000 after acquiring an additional 100,670 shares in the last quarter. Finally, GAMMA Investing LLC raised its holdings in ServiceNow by 87,501.3% in the 1st quarter. GAMMA Investing LLC now owns 2,689,361 shares of the information technology services provider's stock valued at $2,141,108,000 after acquiring an additional 2,686,291 shares in the last quarter. Institutional investors and hedge funds own 87.18% of the company's stock.

Analysts Set New Price Targets

NOW has been the subject of several analyst reports. Needham & Company LLC reaffirmed a "buy" rating and issued a $1,050.00 price objective on shares of ServiceNow in a report on Tuesday, May 6th. Mizuho dropped their price objective on ServiceNow from $1,210.00 to $1,100.00 and set an "outperform" rating for the company in a report on Tuesday, March 11th. Raymond James decreased their price target on ServiceNow from $1,200.00 to $1,000.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 8th. Barclays set a $1,085.00 price target on ServiceNow in a research note on Wednesday, May 7th. Finally, Bank of America decreased their price target on ServiceNow from $1,280.00 to $1,025.00 and set a "buy" rating on the stock in a research note on Tuesday, April 15th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, thirty have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $1,062.50.

Insider Activity at ServiceNow

In other news, insider Jacqueline P. Canney sold 354 shares of the company's stock in a transaction dated Wednesday, April 16th. The shares were sold at an average price of $804.61, for a total transaction of $284,831.94. Following the transaction, the insider now owns 3,027 shares in the company, valued at approximately $2,435,554.47. This represents a 10.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jonathan Chadwick sold 770 shares of the company's stock in a transaction that occurred on Monday, April 28th. The stock was sold at an average price of $931.62, for a total value of $717,347.40. Following the transaction, the director now directly owns 3,205 shares in the company, valued at approximately $2,985,842.10. This trade represents a 19.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 3,102 shares of company stock worth $2,944,038 in the last 90 days. Corporate insiders own 0.38% of the company's stock.

ServiceNow Trading Down 0.0%

Shares of NYSE NOW traded down $0.11 during trading on Monday, reaching $1,010.98. The company had a trading volume of 1,001,802 shares, compared to its average volume of 1,503,330. The company's fifty day moving average price is $899.20 and its 200-day moving average price is $974.30. ServiceNow, Inc. has a 12 month low of $645.45 and a 12 month high of $1,198.09. The stock has a market cap of $209.26 billion, a P/E ratio of 148.02, a PEG ratio of 4.51 and a beta of 0.97. 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 (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 return on equity of 17.11% and a net margin of 12.97%. The firm had revenue of $3.09 billion for the quarter, compared to analyst estimates of $3.09 billion. During the same quarter in the previous year, the company posted $3.41 EPS. The business's revenue was up 18.6% on a year-over-year basis. As a group, research analysts expect that ServiceNow, Inc. will post 8.93 earnings per share 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.