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

Yarbrough Capital LLC raised its position in ServiceNow, Inc. (NYSE:NOW - Free Report) by 128.9% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,680 shares of the information technology services provider's stock after purchasing an additional 946 shares during the quarter. Yarbrough Capital LLC's holdings in ServiceNow were worth $1,338,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of NOW. Quarry LP purchased a new stake in shares of ServiceNow during the 4th quarter valued at about $27,000. Atala Financial Inc purchased a new stake in shares of ServiceNow during the 4th quarter valued at about $28,000. LFA Lugano Financial Advisors SA purchased a new stake in shares of ServiceNow during the 4th quarter valued at about $32,000. FPC Investment Advisory Inc. raised its holdings in shares of ServiceNow by 725.0% during the 4th quarter. FPC Investment Advisory Inc. now owns 33 shares of the information technology services provider's stock valued at $34,000 after buying an additional 29 shares during the period. Finally, Noble Wealth Management PBC purchased a new stake in shares of ServiceNow during the 4th quarter valued at about $34,000. 87.18% of the stock is currently owned by hedge funds and other institutional investors.

ServiceNow Trading Up 1.3%

NYSE:NOW opened at $1,030.70 on Friday. ServiceNow, Inc. has a 12-month low of $678.66 and a 12-month high of $1,198.09. The firm has a market capitalization of $213.34 billion, a P/E ratio of 150.91, a P/E/G ratio of 4.51 and a beta of 0.95. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.10 and a quick ratio of 1.10. The business has a 50 day simple moving average of $919.44 and a 200 day simple moving average of $974.63.

ServiceNow (NYSE:NOW - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The information technology services provider reported $4.04 earnings per share (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 business had revenue of $3.09 billion during the quarter, compared to analyst estimates of $3.09 billion. During the same quarter in the previous year, the firm posted $3.41 EPS. The business's revenue for the quarter was up 18.6% compared to the same quarter last year. Equities research analysts predict that ServiceNow, Inc. will post 8.93 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Wells Fargo & Company raised their target price on ServiceNow from $1,100.00 to $1,150.00 and gave the company an "overweight" rating in a report on Thursday, April 24th. Royal Bank of Canada raised their target price on ServiceNow from $1,060.00 to $1,100.00 and gave the company an "outperform" rating in a report on Tuesday, May 6th. Raymond James lowered their price objective on ServiceNow from $1,200.00 to $1,000.00 and set an "outperform" rating for the company in a research note on Tuesday, April 8th. Needham & Company LLC restated a "buy" rating and set a $1,050.00 price objective on shares of ServiceNow in a research note on Tuesday, May 6th. Finally, Scotiabank set a $1,100.00 price objective on ServiceNow and gave the company an "outperform" rating in a research note on Wednesday, May 7th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, thirty have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, ServiceNow has an average rating of "Moderate Buy" and a consensus price target of $1,062.50.

Insider Activity at ServiceNow

In other ServiceNow news, Director Anita M. Sands sold 248 shares of ServiceNow stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $1,009.14, for a total transaction of $250,266.72. Following the sale, the director now owns 10,643 shares of the company's stock, valued at $10,740,277.02. The trade was a 2.28% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Vice Chairman Nicholas Tzitzon sold 1,171 shares of ServiceNow stock in a transaction on Friday, May 30th. The shares were sold at an average price of $1,020.00, for a total value of $1,194,420.00. Following the sale, the insider now directly owns 3,000 shares in the company, valued at $3,060,000. The trade was a 28.07% decrease in their position. The disclosure for this sale can be found here. Insiders sold 6,716 shares of company stock worth $6,611,245 in the last 90 days. 0.38% of the stock is currently owned by company insiders.

About ServiceNow

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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