Capital Investment Advisors LLC Purchases 1,409 Shares of ServiceNow, Inc. (NYSE:NOW)

Capital Investment Advisors LLC raised its position in ServiceNow, Inc. (NYSE:NOW) by 42.4% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 4,733 shares of the information technology services provider’s stock after buying an additional 1,409 shares during the quarter. Capital Investment Advisors LLC’s holdings in ServiceNow were worth $3,768,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of NOW. Brighton Jones LLC increased its holdings in 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 buying an additional 30 shares during the period. Union Bancaire Privee UBP SA bought a new position in ServiceNow in the 4th quarter valued at about $48,802,000. Lecap Asset Management Ltd. bought a new position in ServiceNow in the 4th quarter valued at about $490,000. Vest Financial LLC increased its holdings in ServiceNow by 22.1% in the 4th quarter. Vest Financial LLC now owns 1,214 shares of the information technology services provider’s stock valued at $1,287,000 after buying an additional 220 shares during the period. Finally, Apollon Wealth Management LLC increased its holdings in ServiceNow by 10.2% in the 4th quarter. Apollon Wealth Management LLC now owns 3,123 shares of the information technology services provider’s stock valued at $3,311,000 after buying an additional 288 shares during the period. 87.18% of the stock is owned by institutional investors.

Analyst Ratings Changes

NOW has been the topic of several recent analyst reports. Truist Financial raised shares of ServiceNow from a “hold” rating to a “buy” rating and raised their target price for the company from $950.00 to $1,200.00 in a report on Thursday, May 1st. Sanford C. Bernstein restated an “outperform” rating and issued a $1,003.00 price target on shares of ServiceNow in a research note on Thursday, April 24th. Morgan Stanley raised their price target on shares of ServiceNow from $881.00 to $950.00 and gave the company an “equal weight” rating in a research note on Thursday, April 24th. Barclays set a $1,085.00 price target on shares of ServiceNow in a research note on Wednesday, May 7th. Finally, Oppenheimer restated an “outperform” rating and issued a $1,100.00 price target (up from $970.00) on shares of ServiceNow in a research note on Tuesday, May 6th. One research analyst has rated the stock with a sell rating, three have given a hold rating, twenty-nine have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, ServiceNow presently has an average rating of “Moderate Buy” and an average target price of $1,062.50.

ServiceNow Stock Up 1.3%

Shares of NYSE NOW opened at $1,030.70 on Monday. The company has a 50 day simple moving average of $919.44 and a 200 day simple moving average of $974.12. The firm has a market cap of $213.34 billion, a PE ratio of 150.91, a price-to-earnings-growth ratio of 4.51 and a beta of 0.95. ServiceNow, Inc. has a 1 year low of $678.66 and a 1 year high of $1,198.09. 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 (NYSE:NOW) last released its quarterly earnings results on Wednesday, April 23rd. The information technology services provider reported $4.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.78 by $0.26. ServiceNow had a net margin of 12.97% and a return on equity of 17.11%. The firm had revenue of $3.09 billion during the quarter, compared to analyst estimates of $3.09 billion. During the same quarter last year, the business earned $3.41 EPS. The company’s revenue was up 18.6% compared to the same quarter last year. On average, research analysts forecast that ServiceNow, Inc. will post 8.93 EPS for the current year.

Insiders Place Their Bets

In other ServiceNow news, insider Jacqueline P. Canney sold 354 shares of the firm’s stock in a transaction that occurred on 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 transaction, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Anita M. Sands sold 248 shares of the firm’s stock in a transaction that occurred 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 transaction, the director now owns 10,643 shares of the company’s stock, valued at approximately $10,740,277.02. The trade was a 2.28% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 6,716 shares of company stock worth $6,611,245. 0.38% of the stock is currently owned by 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.