61 Shares in ServiceNow, Inc. (NYSE:NOW) Purchased by Perkins Coie Trust Co

Perkins Coie Trust Co purchased a new position in shares of ServiceNow, Inc. (NYSE:NOW) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 61 shares of the information technology services provider’s stock, valued at approximately $49,000.

Several other hedge funds have also recently modified their holdings of the stock. Quarry LP acquired a new stake in ServiceNow in the 4th quarter valued at about $27,000. Atala Financial Inc acquired a new stake in ServiceNow in the 4th quarter valued at about $28,000. LFA Lugano Financial Advisors SA acquired a new stake in ServiceNow in the 4th quarter valued at about $32,000. FPC Investment Advisory Inc. increased 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 worth $34,000 after buying an additional 29 shares during the last quarter. Finally, Noble Wealth Management PBC acquired a new stake in shares of ServiceNow during the 4th quarter worth approximately $34,000. Institutional investors and hedge funds own 87.18% of the company’s stock.

ServiceNow Price Performance

Shares of NOW stock opened at $1,030.70 on Friday. The firm has a market cap 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. ServiceNow, Inc. has a 1-year low of $678.66 and a 1-year high of $1,198.09. The firm has a fifty day moving average of $919.44 and a two-hundred day moving average of $974.97.

ServiceNow (NYSE:NOW) last announced its quarterly earnings data on Wednesday, April 23rd. The information technology services provider reported $4.04 earnings per share for the quarter, topping the consensus estimate of $3.78 by $0.26. The company had revenue of $3.09 billion during the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period last year, the business earned $3.41 EPS. As a group, research analysts anticipate that ServiceNow, Inc. will post 8.93 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Jacqueline P. Canney sold 354 shares of the business’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 of the company’s stock, valued at $2,435,554.47. This represents a 10.47% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Anita M. Sands sold 248 shares of the business’s stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $1,009.14, for a total transaction of $250,266.72. Following the sale, the director now directly owns 10,643 shares of the company’s stock, valued at approximately $10,740,277.02. This represents a 2.28% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 6,716 shares of company stock valued at $6,611,245. Company insiders own 0.38% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on NOW shares. Guggenheim raised their price target on shares of ServiceNow from $716.00 to $724.00 and gave the stock a “sell” rating in a report on Thursday, April 24th. Oppenheimer restated an “outperform” rating and set a $1,100.00 price target (up previously from $970.00) on shares of ServiceNow in a report on Tuesday, May 6th. Erste Group Bank upgraded shares of ServiceNow from a “hold” rating to a “strong-buy” rating in a report on Wednesday, April 30th. Redburn Atlantic assumed coverage on shares of ServiceNow in a report on Wednesday, February 19th. They set a “buy” rating for the company. Finally, Wells Fargo & Company increased their price objective on shares of ServiceNow from $1,100.00 to $1,150.00 and gave the stock an “overweight” rating in a research report on Thursday, April 24th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, thirty have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $1,062.50.

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.