Strategic Investment Advisors MI Sells 73 Shares of ServiceNow, Inc. (NYSE:NOW)

Strategic Investment Advisors MI lessened its holdings in ServiceNow, Inc. (NYSE:NOW) by 9.2% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 724 shares of the information technology services provider’s stock after selling 73 shares during the period. Strategic Investment Advisors MI’s holdings in ServiceNow were worth $576,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the business. Moran Wealth Management LLC increased its stake in ServiceNow by 5.0% during the first quarter. Moran Wealth Management LLC now owns 1,176 shares of the information technology services provider’s stock worth $936,000 after acquiring an additional 56 shares during the last quarter. Cornerstone Wealth Group LLC lifted its stake in shares of ServiceNow by 4.8% in the 1st quarter. Cornerstone Wealth Group LLC now owns 5,194 shares of the information technology services provider’s stock valued at $4,135,000 after purchasing an additional 240 shares during the last quarter. Sava Infond d.o.o. boosted its holdings in shares of ServiceNow by 4.8% in the 1st quarter. Sava Infond d.o.o. now owns 25,440 shares of the information technology services provider’s stock worth $20,254,000 after purchasing an additional 1,165 shares during the period. YHB Investment Advisors Inc. boosted its holdings in shares of ServiceNow by 5.5% in the 1st quarter. YHB Investment Advisors Inc. now owns 5,397 shares of the information technology services provider’s stock worth $4,297,000 after purchasing an additional 281 shares during the period. Finally, WoodTrust Financial Corp bought a new position in shares of ServiceNow during the 1st quarter valued at approximately $295,000. Institutional investors own 87.18% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on NOW. Scotiabank set a $1,100.00 price target on ServiceNow and gave the stock an “outperform” rating in a research report on Wednesday, May 7th. Mizuho increased their target price on shares of ServiceNow from $1,050.00 to $1,100.00 and gave the company an “outperform” rating in a research note on Thursday, June 12th. Bank of America lowered their target price on shares of ServiceNow from $1,280.00 to $1,025.00 and set a “buy” rating for the company in a report on Tuesday, April 15th. DA Davidson initiated coverage on shares of ServiceNow in a report on Wednesday. They set a “buy” rating and a $1,150.00 price target on the stock. Finally, BMO Capital Markets increased their price objective on shares of ServiceNow from $1,025.00 to $1,150.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 14th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, thirty have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,065.32.

ServiceNow Trading Up 1.0%

NYSE:NOW opened at $1,005.95 on Thursday. The firm has a 50-day simple moving average of $975.77 and a 200-day simple moving average of $968.70. ServiceNow, Inc. has a one year low of $678.66 and a one year high of $1,198.09. The firm has a market cap of $208.21 billion, a P/E ratio of 136.68, a P/E/G ratio of 4.58 and a beta of 0.95. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.12 and a current ratio of 1.12.

ServiceNow (NYSE:NOW) last issued 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 during the quarter, compared to the consensus estimate of $3.09 billion. ServiceNow had a net margin of 13.41% and a return on equity of 17.34%. ServiceNow’s revenue for the quarter was up 18.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.41 earnings per share. Equities analysts anticipate that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

Insider Transactions at ServiceNow

In other ServiceNow news, Director Anita M. Sands sold 248 shares of ServiceNow stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $1,009.14, for a total value of $250,266.72. Following the transaction, the director now owns 10,643 shares in the company, valued at $10,740,277.02. The trade was a 2.28% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jacqueline P. Canney sold 354 shares of the firm’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 in the company, valued at $2,435,554.47. This represents a 10.47% decrease in their ownership of the stock. 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. Corporate insiders own 0.38% of the company’s stock.

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.