ServiceNow, Inc. (NYSE:NOW) Shares Acquired by Wealthfront Advisers LLC

Wealthfront Advisers LLC raised its holdings in ServiceNow, Inc. (NYSE:NOW) by 0.2% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 26,359 shares of the information technology services provider’s stock after buying an additional 47 shares during the period. Wealthfront Advisers LLC’s holdings in ServiceNow were worth $20,985,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of NOW. Cassady Schiller Wealth Management LLC lifted its position in shares of ServiceNow by 44.0% during the 4th quarter. Cassady Schiller Wealth Management LLC now owns 36 shares of the information technology services provider’s stock valued at $38,000 after acquiring an additional 11 shares during the last quarter. Plancorp LLC boosted its position in shares of ServiceNow by 4.1% in the 4th quarter. Plancorp LLC now owns 308 shares of the information technology services provider’s stock valued at $327,000 after purchasing an additional 12 shares during the period. Capital Investment Advisory Services LLC lifted its stake in ServiceNow by 2.1% during the first quarter. Capital Investment Advisory Services LLC now owns 577 shares of the information technology services provider’s stock valued at $459,000 after buying an additional 12 shares in the last quarter. Kesler Norman & Wride LLC boosted its holdings in shares of ServiceNow by 1.2% in the fourth quarter. Kesler Norman & Wride LLC now owns 1,092 shares of the information technology services provider’s stock worth $1,157,000 after buying an additional 13 shares during the period. Finally, Sepio Capital LP increased its position in shares of ServiceNow by 3.8% in the fourth quarter. Sepio Capital LP now owns 359 shares of the information technology services provider’s stock worth $381,000 after acquiring an additional 13 shares in the last quarter. Institutional investors and hedge funds own 87.18% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. Citigroup raised their price objective on shares of ServiceNow from $1,128.00 to $1,160.00 and gave the stock a “buy” rating in a research note on Wednesday, May 7th. Needham & Company LLC reissued a “buy” rating and issued a $1,050.00 price objective on shares of ServiceNow in a research note on Tuesday, May 6th. JPMorgan Chase & Co. lowered their target price on ServiceNow from $1,200.00 to $970.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 22nd. Scotiabank set a $1,100.00 price target on shares of ServiceNow and gave the stock an “outperform” rating in a research report on Wednesday, May 7th. Finally, Raymond James Financial decreased their target price on shares of ServiceNow from $1,200.00 to $1,000.00 and set an “outperform” rating for the company in a research note on Tuesday, April 8th. One research analyst has rated the stock with a sell rating, two have given a hold rating, thirty-one have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $1,068.23.

ServiceNow Stock Up 2.5%

ServiceNow stock opened at $961.88 on Tuesday. The firm has a market cap of $199.09 billion, a price-to-earnings ratio of 130.69, a P/E/G ratio of 4.31 and a beta of 0.94. The firm has a fifty day moving average price of $1,007.75 and a two-hundred day moving average price of $957.77. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.12 and a quick ratio of 1.12. ServiceNow, Inc. has a fifty-two week low of $678.66 and a fifty-two week high of $1,198.09.

ServiceNow (NYSE:NOW) last released its earnings results on Wednesday, April 23rd. The information technology services provider reported $4.04 earnings per share for the quarter, beating the consensus estimate of $3.78 by $0.26. The business had revenue of $3.09 billion during the quarter, compared to analysts’ expectations of $3.09 billion. ServiceNow had a net margin of 13.41% and a return on equity of 17.34%. The firm’s revenue was up 18.6% on a year-over-year basis. During the same quarter last year, the company earned $3.41 earnings per share. As a group, analysts forecast that ServiceNow, Inc. will post 8.93 earnings per share for the current year.

Insider Transactions at ServiceNow

In related news, CEO William R. Mcdermott sold 2,050 shares of the business’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 owned 6,614 shares in the company, valued at $6,693,434.14. The trade was a 23.66% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Anita M. Sands sold 428 shares of the stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $1,013.61, for a total transaction of $433,825.08. Following the completion of the transaction, the director owned 10,891 shares in the company, valued at $11,039,226.51. This represents a 3.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 6,955 shares of company stock valued at $6,862,195 over the last 90 days. Corporate insiders own 0.38% of the company’s stock.

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.