Register Financial Advisors LLC Makes New Investment in ServiceNow, Inc. (NYSE:NOW)

Register Financial Advisors LLC purchased a new stake in ServiceNow, Inc. (NYSE:NOW) in the 1st quarter, according to its most recent disclosure with the SEC. The fund purchased 181 shares of the information technology services provider’s stock, valued at approximately $138,000.

Several other hedge funds and other institutional investors have also modified their holdings of the business. GuoLine Advisory Pte Ltd boosted its holdings in shares of ServiceNow by 143.3% in the 1st quarter. GuoLine Advisory Pte Ltd now owns 41,120 shares of the information technology services provider’s stock valued at $31,350,000 after buying an additional 24,220 shares during the period. Dohj LLC boosted its holdings in shares of ServiceNow by 2.9% in the 1st quarter. Dohj LLC now owns 1,330 shares of the information technology services provider’s stock valued at $1,014,000 after buying an additional 37 shares during the period. 180 Wealth Advisors LLC boosted its holdings in shares of ServiceNow by 15.4% in the 1st quarter. 180 Wealth Advisors LLC now owns 1,226 shares of the information technology services provider’s stock valued at $935,000 after buying an additional 164 shares during the period. Thrive Wealth Management LLC boosted its holdings in shares of ServiceNow by 7.7% in the 1st quarter. Thrive Wealth Management LLC now owns 390 shares of the information technology services provider’s stock valued at $297,000 after buying an additional 28 shares during the period. Finally, Chesley Taft & Associates LLC boosted its holdings in shares of ServiceNow by 0.9% in the 1st quarter. Chesley Taft & Associates LLC now owns 3,810 shares of the information technology services provider’s stock valued at $2,905,000 after buying an additional 35 shares during the period. 87.18% of the stock is owned by institutional investors and hedge funds.

ServiceNow Stock Up 1.7 %

NYSE NOW opened at $787.19 on Friday. The company’s 50 day simple moving average is $726.55 and its 200 day simple moving average is $740.89. The company has a market capitalization of $161.37 billion, a P/E ratio of 84.19, a PEG ratio of 4.85 and a beta of 0.96. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.05 and a quick ratio of 1.05. ServiceNow, Inc. has a 12 month low of $527.24 and a 12 month high of $815.32.

ServiceNow (NYSE:NOW) last released its earnings results on Wednesday, April 24th. The information technology services provider reported $1.82 earnings per share for the quarter, topping the consensus estimate of $1.41 by $0.41. ServiceNow had a net margin of 20.34% and a return on equity of 13.59%. The business had revenue of $2.60 billion for the quarter, compared to the consensus estimate of $2.59 billion. Equities research analysts expect that ServiceNow, Inc. will post 6.5 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages recently weighed in on NOW. William Blair reiterated an “outperform” rating on shares of ServiceNow in a research report on Tuesday, May 7th. Morgan Stanley lifted their price objective on shares of ServiceNow from $814.00 to $830.00 and gave the company an “overweight” rating in a research report on Thursday, April 25th. JMP Securities reiterated a “market outperform” rating and issued a $825.00 price objective on shares of ServiceNow in a research report on Tuesday, May 7th. Wells Fargo & Company lifted their price objective on shares of ServiceNow from $875.00 to $900.00 and gave the company an “overweight” rating in a research report on Tuesday, April 16th. Finally, StockNews.com downgraded shares of ServiceNow from a “buy” rating to a “hold” rating in a research report on Friday, April 26th. Three research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $814.48.

Insider Activity at ServiceNow

In related news, CFO Gina Mastantuono sold 1,800 shares of the business’s stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $738.88, for a total transaction of $1,329,984.00. Following the transaction, the chief financial officer now directly owns 13,290 shares of the company’s stock, valued at $9,819,715.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other ServiceNow news, insider Paul John Smith sold 602 shares of ServiceNow stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $769.75, for a total value of $463,389.50. Following the completion of the sale, the insider now directly owns 3,619 shares in the company, valued at $2,785,725.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Gina Mastantuono sold 1,800 shares of ServiceNow stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $738.88, for a total transaction of $1,329,984.00. Following the completion of the sale, the chief financial officer now owns 13,290 shares of the company’s stock, valued at $9,819,715.20. The disclosure for this sale can be found here. Over the last three months, insiders have sold 5,530 shares of company stock valued at $3,997,012. Corporate insiders own 0.25% of the company’s stock.

ServiceNow Company 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.