Vision Financial Markets LLC Takes $60,000 Position in ServiceNow, Inc. (NYSE:NOW)

Vision Financial Markets LLC bought a new stake in ServiceNow, Inc. (NYSE:NOW) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 75 shares of the information technology services provider’s stock, valued at approximately $60,000.

Other large investors also recently modified their holdings of the company. ABC Arbitrage SA raised its stake in shares of ServiceNow by 49.3% during the first quarter. ABC Arbitrage SA now owns 1,965 shares of the information technology services provider’s stock valued at $1,564,000 after acquiring an additional 649 shares during the last quarter. LCM Capital Management Inc increased its stake in shares of ServiceNow by 7.0% in the first quarter. LCM Capital Management Inc now owns 443 shares of the information technology services provider’s stock valued at $353,000 after buying an additional 29 shares during the period. Maxi Investments CY Ltd acquired a new position in shares of ServiceNow in the first quarter worth approximately $1,650,000. Atria Wealth Solutions Inc. increased its position in ServiceNow by 5.7% during the 1st quarter. Atria Wealth Solutions Inc. now owns 9,378 shares of the information technology services provider’s stock valued at $7,466,000 after purchasing an additional 504 shares during the period. Finally, Cary Street Partners Financial LLC raised its stake in ServiceNow by 49.3% during the first quarter. Cary Street Partners Financial LLC now owns 881 shares of the information technology services provider’s stock worth $701,000 after buying an additional 291 shares during the last quarter. 87.18% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

NOW has been the subject of a number of research analyst reports. Wells Fargo & Company lifted their target price on ServiceNow from $1,150.00 to $1,225.00 and gave the stock an “overweight” rating in a report on Thursday, July 24th. Jefferies Financial Group lifted their price target on shares of ServiceNow from $1,025.00 to $1,150.00 and gave the company a “buy” rating in a research report on Thursday, July 24th. Royal Bank Of Canada lifted their price objective on shares of ServiceNow from $1,060.00 to $1,100.00 and gave the company an “outperform” rating in a report on Tuesday, May 6th. Bank of America boosted their price objective on ServiceNow from $1,110.00 to $1,200.00 and gave the stock a “buy” rating in a report on Thursday, July 24th. Finally, Scotiabank set a $1,100.00 price objective on shares of ServiceNow and gave the stock an “outperform” rating in a report on Wednesday, May 7th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, thirty have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, ServiceNow presently has an average rating of “Moderate Buy” and a consensus price target of $1,115.20.

Insider Buying and Selling

In other ServiceNow news, CEO William R. Mcdermott sold 2,050 shares of ServiceNow stock in a transaction on 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 sale, the chief executive officer owned 6,614 shares of the company’s stock, valued at approximately $6,693,434.14. This trade represents a 23.66% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Gina Mastantuono sold 292 shares of the company’s stock in a transaction on Thursday, May 8th. The shares were sold at an average price of $985.00, for a total value of $287,620.00. Following the transaction, the chief financial officer directly owned 11,198 shares in the company, valued at approximately $11,030,030. The trade was a 2.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 5,990 shares of company stock worth $6,047,567 over the last 90 days. 0.38% of the stock is currently owned by company insiders.

ServiceNow Price Performance

Shares of NYSE NOW opened at $922.02 on Tuesday. ServiceNow, Inc. has a 1 year low of $678.66 and a 1 year high of $1,198.09. The stock has a market capitalization of $191.78 billion, a P/E ratio of 116.12, a P/E/G ratio of 4.12 and a beta of 0.93. The company’s 50-day moving average is $993.22 and its 200 day moving average is $948.24. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.09 and a quick ratio of 1.09.

ServiceNow (NYSE:NOW) last announced its earnings results on Wednesday, July 23rd. The information technology services provider reported $4.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.57 by $0.52. ServiceNow had a return on equity of 18.04% and a net margin of 13.78%. The firm had revenue of $3.22 billion during the quarter, compared to analyst estimates of $3.12 billion. During the same quarter in the prior year, the company earned $3.13 EPS. The business’s revenue was up 22.4% compared to the same quarter last year. On average, sell-side analysts expect that ServiceNow, Inc. will post 8.93 earnings per share for the current year.

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.