PFG Investments LLC Acquires 241 Shares of ServiceNow, Inc. (NYSE:NOW)

PFG Investments LLC grew its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 17.8% during the first quarter, Holdings Channel reports. The institutional investor owned 1,596 shares of the information technology services provider’s stock after purchasing an additional 241 shares during the quarter. PFG Investments LLC’s holdings in ServiceNow were worth $1,271,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of NOW. Vanguard Group Inc. grew its position in ServiceNow by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 19,199,258 shares of the information technology services provider’s stock worth $20,353,517,000 after acquiring an additional 190,430 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of ServiceNow by 6.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 7,955,924 shares of the information technology services provider’s stock worth $8,434,235,000 after purchasing an additional 509,467 shares during the last quarter. FMR LLC grew its holdings in shares of ServiceNow by 4.9% in the fourth quarter. FMR LLC now owns 5,878,900 shares of the information technology services provider’s stock worth $6,232,339,000 after purchasing an additional 272,506 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of ServiceNow by 2.4% in the fourth quarter. Geode Capital Management LLC now owns 4,312,571 shares of the information technology services provider’s stock worth $4,560,890,000 after purchasing an additional 100,670 shares during the last quarter. Finally, GAMMA Investing LLC grew its holdings in shares of ServiceNow by 87,501.3% in the first quarter. GAMMA Investing LLC now owns 2,689,361 shares of the information technology services provider’s stock worth $2,141,108,000 after purchasing an additional 2,686,291 shares during the last quarter. 87.18% of the stock is owned by institutional investors.

Insider Activity

In other news, CEO William R. Mcdermott sold 2,050 shares of the stock in a transaction on Friday, May 30th. The stock was sold at an average price of $1,012.01, for a total transaction of $2,074,620.50. Following the transaction, the chief executive officer now directly owns 6,614 shares of the company’s stock, valued at $6,693,434.14. This represents a 23.66% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Jacqueline P. Canney sold 354 shares of the stock in a transaction on Wednesday, April 16th. The shares were sold at an average price of $804.61, for a total value of $284,831.94. Following the transaction, the insider now directly owns 3,027 shares in the company, valued at $2,435,554.47. The trade was a 10.47% 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 valued at $6,611,245 over the last ninety days. 0.38% of the stock is currently owned by corporate insiders.

ServiceNow Trading Down 1.3%

Shares of NYSE NOW opened at $969.78 on Monday. The firm’s 50 day moving average price is $964.42 and its 200-day moving average price is $969.26. The company has a market cap of $200.72 billion, a PE ratio of 131.76, a P/E/G ratio of 4.48 and a beta of 0.96. ServiceNow, Inc. has a 52-week low of $678.66 and a 52-week high of $1,198.09. 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 released its quarterly earnings data on Wednesday, April 23rd. The information technology services provider reported $4.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.78 by $0.26. The business had revenue of $3.09 billion for the quarter, compared to analysts’ expectations of $3.09 billion. ServiceNow had a return on equity of 17.34% and a net margin of 13.41%. The firm’s quarterly revenue was up 18.6% on a year-over-year basis. During the same period in the prior year, the firm posted $3.41 EPS. On average, equities research analysts expect that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

Analyst Ratings Changes

NOW has been the topic of a number of recent analyst reports. BMO Capital Markets raised their price target on shares of ServiceNow from $1,025.00 to $1,150.00 and gave the stock an “outperform” rating in a report on Wednesday, May 14th. FBN Securities raised ServiceNow to a “strong-buy” rating in a research note on Wednesday, June 11th. Oppenheimer reissued an “outperform” rating and issued a $1,100.00 target price (up from $970.00) on shares of ServiceNow in a research note on Tuesday, May 6th. UBS Group reiterated a “buy” rating and issued a $1,025.00 price objective (up from $900.00) on shares of ServiceNow in a research report on Thursday, April 24th. Finally, Bank of America cut their price objective on ServiceNow from $1,280.00 to $1,025.00 and set a “buy” rating on the stock in a research report on Tuesday, April 15th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, twenty-nine have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $1,062.50.

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.