ServiceNow, Inc. (NYSE:NOW) Shares Acquired by Focus Financial Network Inc.

Focus Financial Network Inc. boosted its holdings in ServiceNow, Inc. (NYSE:NOW) by 17.2% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 20,645 shares of the information technology services provider’s stock after acquiring an additional 3,028 shares during the period. Focus Financial Network Inc.’s holdings in ServiceNow were worth $16,436,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. Quarry LP acquired a new position in shares of ServiceNow during the 4th quarter valued at $27,000. Atala Financial Inc acquired a new stake in ServiceNow during the fourth quarter valued at $28,000. LFA Lugano Financial Advisors SA acquired a new stake in ServiceNow during the fourth quarter valued at $32,000. Noble Wealth Management PBC acquired a new stake in ServiceNow during the fourth quarter valued at $34,000. Finally, FPC Investment Advisory Inc. raised its holdings in ServiceNow by 725.0% during the fourth 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 in the last quarter. Institutional investors own 87.18% of the company’s stock.

ServiceNow Stock Performance

NYSE NOW opened at $1,009.94 on Wednesday. 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 firm has a market capitalization of $209.04 billion, a price-to-earnings ratio of 147.87, a P/E/G ratio of 4.51 and a beta of 0.95. The firm’s 50 day simple moving average is $928.22 and its 200 day simple moving average is $974.13. ServiceNow, Inc. has a 1 year low of $678.66 and a 1 year high of $1,198.09.

ServiceNow (NYSE:NOW) last announced its earnings results 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 business had revenue of $3.09 billion during the quarter, compared to the consensus estimate of $3.09 billion. ServiceNow had a net margin of 12.97% and a return on equity of 17.11%. ServiceNow’s quarterly revenue was up 18.6% on a year-over-year basis. During the same quarter last year, the firm earned $3.41 earnings per share. As a group, research analysts expect that ServiceNow, Inc. will post 8.93 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms have recently commented on NOW. BMO Capital Markets lifted their price objective on ServiceNow from $1,025.00 to $1,150.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 14th. TD Securities restated a “buy” rating and issued a $1,100.00 price objective on shares of ServiceNow in a research report on Thursday, April 24th. JMP Securities reiterated a “market outperform” rating and set a $1,300.00 target price on shares of ServiceNow in a research report on Tuesday, May 6th. Truist Financial upgraded shares of ServiceNow from a “hold” rating to a “buy” rating and upped their price objective for the company from $950.00 to $1,200.00 in a research report on Thursday, May 1st. Finally, William Blair reiterated an “outperform” rating on shares of ServiceNow in a research note on Friday, March 7th. One research analyst has rated the stock with a sell rating, three have given a hold rating, twenty-nine have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $1,062.50.

Insider Buying and Selling at ServiceNow

In other ServiceNow news, Vice Chairman Nicholas Tzitzon sold 1,171 shares of the stock in a transaction on Friday, May 30th. The shares were sold at an average price of $1,020.00, for a total transaction of $1,194,420.00. Following the completion of the sale, the insider now owns 3,000 shares of the company’s stock, valued at $3,060,000. This represents a 28.07% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Jacqueline P. Canney sold 66 shares of the firm’s stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $1,023.00, for a total transaction of $67,518.00. Following the completion of the sale, the insider now directly owns 3,027 shares of the company’s stock, valued at approximately $3,096,621. This represents a 2.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 6,716 shares of company stock worth $6,611,245 over the last three months. 0.38% of the stock is currently owned by insiders.

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.