ServiceNow, Inc. (NYSE:NOW) Stock Holdings Lifted by Boltwood Capital Management

Boltwood Capital Management boosted its position in shares of ServiceNow, Inc. (NYSE:NOW) by 69.1% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 350 shares of the information technology services provider’s stock after purchasing an additional 143 shares during the period. Boltwood Capital Management’s holdings in ServiceNow were worth $279,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Brighton Jones LLC lifted its stake in shares of ServiceNow by 1.1% in the 4th quarter. Brighton Jones LLC now owns 2,753 shares of the information technology services provider’s stock valued at $2,919,000 after purchasing an additional 30 shares during the last quarter. Union Bancaire Privee UBP SA acquired a new position in ServiceNow during the 4th quarter worth $48,802,000. Sargent Investment Group LLC lifted its position in ServiceNow by 11.8% during the 4th quarter. Sargent Investment Group LLC now owns 294 shares of the information technology services provider’s stock worth $299,000 after acquiring an additional 31 shares during the last quarter. Stratos Wealth Partners LTD. lifted its position in ServiceNow by 0.9% during the 4th quarter. Stratos Wealth Partners LTD. now owns 8,721 shares of the information technology services provider’s stock worth $9,245,000 after acquiring an additional 75 shares during the last quarter. Finally, Stratos Wealth Advisors LLC lifted its position in ServiceNow by 12.0% during the 4th quarter. Stratos Wealth Advisors LLC now owns 646 shares of the information technology services provider’s stock worth $685,000 after acquiring an additional 69 shares during the last quarter. 87.18% of the stock is currently owned by hedge funds and other institutional investors.

ServiceNow Price Performance

Shares of NOW stock opened at $1,017.81 on Friday. ServiceNow, Inc. has a 1 year low of $678.66 and a 1 year high of $1,198.09. The firm’s 50 day moving average is $915.04 and its 200-day moving average is $974.91. The firm has a market capitalization of $210.67 billion, a price-to-earnings ratio of 149.02, a PEG ratio of 4.51 and a beta of 0.97. 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 (NYSE:NOW) last announced its earnings results on Wednesday, April 23rd. The information technology services provider reported $4.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.78 by $0.26. ServiceNow had a net margin of 12.97% and a return on equity of 17.11%. The company had revenue of $3.09 billion for the quarter, compared to analyst estimates of $3.09 billion. During the same period in the prior year, the business earned $3.41 earnings per share. ServiceNow’s quarterly revenue was up 18.6% on a year-over-year basis. Sell-side analysts forecast that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

NOW has been the subject of a number of research analyst reports. Raymond James cut their target price on shares of ServiceNow from $1,200.00 to $1,000.00 and set an “outperform” rating for the company in a research report on Tuesday, April 8th. Royal Bank of Canada upped their price objective on shares of ServiceNow from $1,060.00 to $1,100.00 and gave the company an “outperform” rating in a research report on Tuesday, May 6th. Needham & Company LLC reaffirmed a “buy” rating and set a $1,050.00 price objective on shares of ServiceNow in a research report on Tuesday, May 6th. Guggenheim upped their price objective on shares of ServiceNow from $716.00 to $724.00 and gave the company a “sell” rating in a research report on Thursday, April 24th. Finally, TD Securities reaffirmed a “buy” rating and set a $1,100.00 price objective on shares of ServiceNow in a research report 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 assigned a strong buy rating to the company. Based on data from MarketBeat.com, ServiceNow has an average rating of “Moderate Buy” and an average target price of $1,062.50.

Insider Activity at ServiceNow

In related news, CEO William R. Mcdermott sold 2,050 shares of the 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 value of $2,074,620.50. Following the transaction, the chief executive officer now directly owns 6,614 shares in the company, valued at $6,693,434.14. This represents a 23.66% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Gina Mastantuono sold 292 shares of the stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $985.00, for a total transaction of $287,620.00. Following the completion of the transaction, the chief financial officer now owns 11,198 shares in the company, valued at $11,030,030. This represents a 2.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 6,716 shares of company stock worth $6,611,245 over the last ninety days. Company 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.