ServiceNow, Inc. (NYSE:NOW) Shares Acquired by Clean Yield Group

Clean Yield Group lifted its position in ServiceNow, Inc. (NYSE:NOW) by 25.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 4,935 shares of the information technology services provider’s stock after buying an additional 1,014 shares during the quarter. ServiceNow makes up 1.3% of Clean Yield Group’s investment portfolio, making the stock its 26th largest holding. Clean Yield Group’s holdings in ServiceNow were worth $3,929,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of NOW. Quarry LP purchased a new stake in shares of ServiceNow in the 4th quarter valued at $27,000. Atala Financial Inc purchased a new stake in shares of ServiceNow in the 4th quarter valued at $28,000. LFA Lugano Financial Advisors SA purchased a new stake in shares of ServiceNow in the 4th quarter valued at $32,000. FPC Investment Advisory Inc. raised its holdings in shares of ServiceNow by 725.0% in 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 in the 4th quarter valued at $34,000. Hedge funds and other institutional investors own 87.18% of the company’s stock.

Insider Activity

In related news, insider Jacqueline P. Canney sold 354 shares of the firm’s stock in a transaction that occurred on Wednesday, April 16th. The stock was sold at an average price of $804.61, for a total value of $284,831.94. Following the completion of the transaction, the insider now directly owns 3,027 shares of the company’s stock, valued at $2,435,554.47. This trade represents a 10.47% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO William R. Mcdermott sold 2,050 shares of the firm’s 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 completion of the transaction, the chief executive officer now directly owns 6,614 shares of the company’s stock, valued at $6,693,434.14. The trade was a 23.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 6,716 shares of company stock valued at $6,611,245 in the last three months. 0.38% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on NOW. Mizuho cut their price objective on ServiceNow from $1,210.00 to $1,100.00 and set an “outperform” rating on the stock in a report on Tuesday, March 11th. Cantor Fitzgerald restated an “overweight” rating and set a $1,048.00 price target on shares of ServiceNow in a report on Thursday, April 24th. Citigroup upped their price target on ServiceNow from $1,128.00 to $1,160.00 and gave the stock a “buy” rating in a report on Wednesday, May 7th. JPMorgan Chase & Co. cut their price target on ServiceNow from $1,200.00 to $970.00 and set an “overweight” rating on the stock in a report on Tuesday, April 22nd. Finally, Canaccord Genuity Group cut their price target on ServiceNow from $1,275.00 to $900.00 and set a “buy” rating on the stock in a report on Tuesday, April 22nd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, thirty have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,062.50.

ServiceNow Stock Up 1.3%

ServiceNow stock opened at $1,030.70 on Friday. ServiceNow, Inc. has a twelve month low of $678.66 and a twelve month high of $1,198.09. The stock has a 50 day moving average of $919.44 and a two-hundred day moving average of $974.63. 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 stock has a market capitalization of $213.34 billion, a price-to-earnings ratio of 150.91, a PEG ratio of 4.51 and a beta of 0.95.

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, topping 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 return on equity of 17.11% and a net margin of 12.97%. The firm’s revenue for the quarter was up 18.6% on a year-over-year basis. During the same period last year, the firm earned $3.41 EPS. As a group, research analysts expect that ServiceNow, Inc. will post 8.93 earnings per share for the current year.

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.