MV Capital Management Inc. Has $231,000 Holdings in ServiceNow, Inc. (NYSE:NOW)

MV Capital Management Inc. grew its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 65.7% during the first quarter, HoldingsChannel.com reports. The firm owned 290 shares of the information technology services provider’s stock after acquiring an additional 115 shares during the quarter. MV Capital Management Inc.’s holdings in ServiceNow were worth $231,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently made changes to their positions in NOW. Brighton Jones LLC raised its stake in shares of ServiceNow by 1.1% during the fourth quarter. Brighton Jones LLC now owns 2,753 shares of the information technology services provider’s stock valued at $2,919,000 after acquiring an additional 30 shares during the last quarter. Union Bancaire Privee UBP SA acquired a new stake in shares of ServiceNow during the fourth quarter worth $48,802,000. Savant Capital LLC increased its position in shares of ServiceNow by 9.3% during the fourth quarter. Savant Capital LLC now owns 2,924 shares of the information technology services provider’s stock worth $3,100,000 after buying an additional 248 shares during the period. Stonebridge Financial Group LLC acquired a new stake in shares of ServiceNow during the fourth quarter worth $37,000. Finally, Sovran Advisors LLC acquired a new stake in shares of ServiceNow during the fourth quarter worth $673,000. Institutional investors and hedge funds own 87.18% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on NOW shares. Bank of America decreased their price objective on shares of ServiceNow from $1,280.00 to $1,025.00 and set a “buy” rating for the company in a research report on Tuesday, April 15th. TD Securities restated a “buy” rating and issued a $1,100.00 price target on shares of ServiceNow in a report on Thursday, April 24th. Piper Sandler reduced their price target on shares of ServiceNow from $1,200.00 to $1,120.00 and set an “overweight” rating for the company in a report on Thursday, April 24th. Jefferies Financial Group reduced their price target on shares of ServiceNow from $1,250.00 to $1,025.00 and set a “buy” rating for the company in a report on Tuesday, April 15th. Finally, Mizuho reduced their price target on shares of ServiceNow from $1,210.00 to $1,100.00 and set an “outperform” rating for the company in a report on Tuesday, March 11th. One research analyst has rated the stock with a sell rating, three have given a hold rating, twenty-nine have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $1,062.50.

Insider Transactions at ServiceNow

In related news, insider Jacqueline P. Canney sold 354 shares of the company’s stock in a transaction on Wednesday, April 16th. The stock was sold at an average price of $804.61, for a total transaction of $284,831.94. Following the transaction, the insider now directly owns 3,027 shares of the company’s stock, valued at approximately $2,435,554.47. The trade was a 10.47% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO William R. Mcdermott sold 2,050 shares of the company’s stock in a transaction dated Friday, May 30th. The stock was 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 in the company, valued at approximately $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 have sold 6,716 shares of company stock valued at $6,611,245 over the last three months. Company insiders own 0.38% of the company’s stock.

ServiceNow Trading Down 0.6%

Shares of NOW stock opened at $1,003.66 on Thursday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.10 and a current ratio of 1.10. ServiceNow, Inc. has a 1 year low of $678.66 and a 1 year high of $1,198.09. The stock has a fifty day moving average of $933.88 and a two-hundred day moving average of $974.34. The firm has a market capitalization of $207.74 billion, a PE ratio of 146.95, a price-to-earnings-growth 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 EPS for the quarter, topping analysts’ consensus estimates of $3.78 by $0.26. The company had revenue of $3.09 billion for the quarter, compared to the consensus estimate of $3.09 billion. ServiceNow had a return on equity of 17.11% and a net margin of 12.97%. The company’s quarterly revenue was up 18.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.41 EPS. As a group, research analysts expect that ServiceNow, Inc. will post 8.93 EPS 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.