Fiduciary Alliance LLC Grows Stock Position in ServiceNow, Inc. (NYSE:NOW)

Fiduciary Alliance LLC lifted its stake in ServiceNow, Inc. (NYSE:NOW) by 4.0% in the first quarter, HoldingsChannel reports. The firm owned 1,263 shares of the information technology services provider’s stock after acquiring an additional 48 shares during the quarter. Fiduciary Alliance LLC’s holdings in ServiceNow were worth $1,006,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of NOW. GAMMA Investing LLC raised its stake in ServiceNow by 87,501.3% in the first 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 buying an additional 2,686,291 shares in the last quarter. Norges Bank acquired a new stake in shares of ServiceNow during the fourth quarter worth about $2,603,360,000. Proficio Capital Partners LLC increased its position in shares of ServiceNow by 154,255.3% during the fourth quarter. Proficio Capital Partners LLC now owns 666,815 shares of the information technology services provider’s stock worth $667,000 after purchasing an additional 666,383 shares in the last quarter. Alphinity Investment Management Pty Ltd purchased a new position in shares of ServiceNow during the fourth quarter worth about $682,468,000. Finally, Price T Rowe Associates Inc. MD grew its holdings 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 buying an additional 509,467 shares during the last quarter. 87.18% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. William Blair reaffirmed an “outperform” rating on shares of ServiceNow in a report on Friday, March 7th. Bank of America lowered their price objective on ServiceNow from $1,280.00 to $1,025.00 and set a “buy” rating on the stock in a report on Tuesday, April 15th. Raymond James lowered their price objective on ServiceNow from $1,200.00 to $1,000.00 and set an “outperform” rating on the stock in a report on Tuesday, April 8th. Sanford C. Bernstein reissued an “outperform” rating and set a $1,003.00 price target on shares of ServiceNow in a research note on Thursday, April 24th. Finally, Guggenheim boosted their price target on ServiceNow from $716.00 to $724.00 and gave the stock a “sell” rating in a research note on Thursday, April 24th. One 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 issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $1,062.50.

ServiceNow Stock Down 0.0%

Shares of ServiceNow stock opened at $1,010.98 on Tuesday. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.15. The company has a fifty day moving average price of $902.65 and a 200 day moving average price of $974.29. The stock has a market cap of $209.26 billion, a price-to-earnings ratio of 148.02, a price-to-earnings-growth ratio of 4.51 and a beta of 0.97. ServiceNow, Inc. has a twelve month low of $645.45 and a twelve month high of $1,198.09.

ServiceNow (NYSE:NOW) last posted its quarterly earnings data on Wednesday, April 23rd. The information technology services provider reported $4.04 earnings per share 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 analysts’ expectations of $3.09 billion. ServiceNow had a net margin of 12.97% and a return on equity of 17.11%. The firm’s revenue for the quarter was up 18.6% on a year-over-year basis. During the same period in the prior year, the company posted $3.41 EPS. Equities research analysts forecast that ServiceNow, Inc. will post 8.93 earnings per share for the current fiscal year.

Insider Buying and Selling at ServiceNow

In other ServiceNow news, General Counsel Russell S. Elmer sold 191 shares of the company’s stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $985.00, for a total value of $188,135.00. Following the completion of the transaction, the general counsel now directly owns 4,332 shares of the company’s stock, valued at $4,267,020. This represents a 4.22% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, 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 completion of the sale, the insider now owns 3,027 shares in the company, valued at approximately $2,435,554.47. This trade represents a 10.47% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 3,102 shares of company stock valued at $2,944,038 in the last ninety days. Insiders own 0.38% of the company’s stock.

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.