ServiceNow, Inc. $NOW Shares Purchased by AMI Asset Management Corp

AMI Asset Management Corp increased its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 112.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 379,351 shares of the information technology services provider’s stock after purchasing an additional 200,577 shares during the quarter. ServiceNow makes up approximately 2.5% of AMI Asset Management Corp’s portfolio, making the stock its 19th biggest position. AMI Asset Management Corp’s holdings in ServiceNow were worth $39,661,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of NOW. Wealth Watch Advisors INC acquired a new position in ServiceNow in the 3rd quarter valued at about $29,000. Texas Capital Bancshares Inc TX acquired a new stake in shares of ServiceNow in the third quarter valued at about $37,000. Ameriflex Group Inc. lifted its position in shares of ServiceNow by 187.5% during the 3rd quarter. Ameriflex Group Inc. now owns 46 shares of the information technology services provider’s stock valued at $42,000 after acquiring an additional 30 shares during the period. Kelleher Financial Advisors purchased a new stake in ServiceNow during the third quarter worth $50,000. Finally, Pin Oak Investment Advisors Inc. boosted its position in shares of ServiceNow by 20.7% in the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 134 shares of the information technology services provider’s stock worth $123,000 after buying an additional 23 shares in the last quarter. Institutional investors and hedge funds own 87.18% of the company’s stock.

ServiceNow Trading Up 1.6%

ServiceNow stock opened at $99.89 on Tuesday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.84 and a current ratio of 0.84. The firm’s 50-day moving average is $100.17 and its 200-day moving average is $114.38. ServiceNow, Inc. has a 1 year low of $81.24 and a 1 year high of $211.48. The company has a market cap of $102.99 billion, a P/E ratio of 59.53, a PEG ratio of 1.64 and a beta of 0.94.

ServiceNow (NYSE:NOW) last posted its earnings results on Wednesday, April 22nd. The information technology services provider reported $0.97 EPS for the quarter, meeting the consensus estimate of $0.97. The company had revenue of $3.77 billion during the quarter, compared to analyst estimates of $3.75 billion. ServiceNow had a return on equity of 18.16% and a net margin of 12.59%.The business’s revenue was up 22.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.81 earnings per share. On average, equities analysts expect that ServiceNow, Inc. will post 2.34 earnings per share for the current year.

Insider Activity

In other news, insider Jacqueline P. Canney sold 8,927 shares of the firm’s stock in a transaction on Friday, April 24th. The stock was sold at an average price of $89.60, for a total transaction of $799,859.20. Following the transaction, the insider directly owned 29,531 shares of the company’s stock, valued at approximately $2,645,977.60. This trade represents a 23.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Anita M. Sands sold 16,445 shares of the business’s stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $90.14, for a total transaction of $1,482,352.30. Following the sale, the director owned 30,090 shares in the company, valued at $2,712,312.60. This trade represents a 35.34% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 28,071 shares of company stock worth $2,529,956 in the last quarter. Company insiders own 0.34% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on NOW shares. Argus lowered their target price on ServiceNow from $180.00 to $134.00 and set a “buy” rating on the stock in a report on Friday, April 24th. BMO Capital Markets lowered their price objective on shares of ServiceNow from $120.00 to $115.00 and set an “outperform” rating for the company in a research note on Thursday, April 23rd. Morgan Stanley cut their price target on shares of ServiceNow from $210.00 to $180.00 and set an “overweight” rating on the stock in a report on Thursday, April 23rd. Canaccord Genuity Group decreased their target price on ServiceNow from $200.00 to $145.00 and set a “buy” rating for the company in a research report on Thursday, April 23rd. Finally, Piper Sandler cut their price objective on shares of ServiceNow from $200.00 to $140.00 and set an “overweight” rating on the stock in a report on Thursday, April 23rd. One analyst has rated the stock with a Strong Buy rating, thirty-five have given a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $142.17.

ServiceNow Profile

ServiceNow (NYSE: NOW) is a cloud computing company that builds enterprise software to manage digital workflows and automate business processes. Its offerings are designed to replace manual work and legacy systems with cloud-based, service-oriented applications that support IT operations, customer service, human resources, security response and other enterprise functions.

The company’s flagship product family is the Now Platform, a suite of subscription software and platform services that includes IT Service Management (ITSM), IT Operations Management (ITOM), IT Business Management (ITBM), Customer Service Management (CSM), HR Service Delivery, Security Operations and Asset Management.