Chapin Davis Inc. Takes $380,000 Position in ServiceNow, Inc. (NYSE:NOW)

Chapin Davis Inc. bought a new stake in ServiceNow, Inc. (NYSE:NOW) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 498 shares of the information technology services provider’s stock, valued at approximately $380,000.

A number of other institutional investors also recently modified their holdings of the business. Algert Global LLC bought a new stake in ServiceNow during the third quarter worth about $310,000. AQR Capital Management LLC raised its stake in ServiceNow by 47.7% during the third quarter. AQR Capital Management LLC now owns 70,167 shares of the information technology services provider’s stock worth $39,221,000 after acquiring an additional 22,652 shares in the last quarter. Truist Financial Corp raised its stake in ServiceNow by 37.2% during the third quarter. Truist Financial Corp now owns 91,409 shares of the information technology services provider’s stock worth $51,094,000 after acquiring an additional 24,795 shares in the last quarter. Glenmede Trust Co. NA raised its stake in ServiceNow by 2.7% during the third quarter. Glenmede Trust Co. NA now owns 46,353 shares of the information technology services provider’s stock worth $25,909,000 after acquiring an additional 1,200 shares in the last quarter. Finally, Shelton Capital Management raised its stake in ServiceNow by 31.2% during the third quarter. Shelton Capital Management now owns 7,143 shares of the information technology services provider’s stock worth $3,993,000 after acquiring an additional 1,700 shares in the last quarter. Institutional investors own 87.18% of the company’s stock.

Insider Activity at ServiceNow

In related news, insider Paul John Smith sold 125 shares of the business’s stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $727.38, for a total value of $90,922.50. Following the sale, the insider now directly owns 3,112 shares in the company, valued at approximately $2,263,606.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other ServiceNow news, insider Paul John Smith sold 125 shares of ServiceNow stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $727.38, for a total transaction of $90,922.50. Following the completion of the transaction, the insider now owns 3,112 shares of the company’s stock, valued at approximately $2,263,606.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Christopher Bedi sold 215 shares of ServiceNow stock in a transaction dated Wednesday, June 5th. The shares were sold at an average price of $700.00, for a total value of $150,500.00. Following the transaction, the insider now directly owns 15,892 shares of the company’s stock, valued at approximately $11,124,400. The disclosure for this sale can be found here. In the last three months, insiders have sold 5,530 shares of company stock worth $3,997,012. Company insiders own 0.25% of the company’s stock.

ServiceNow Trading Up 0.3 %

NYSE NOW opened at $788.96 on Tuesday. The firm has a market capitalization of $161.74 billion, a P/E ratio of 84.38, a PEG ratio of 4.93 and a beta of 0.99. The business has a fifty day simple moving average of $726.55 and a 200 day simple moving average of $741.24. ServiceNow, Inc. has a 12 month low of $527.24 and a 12 month high of $815.32. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.18.

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

Analysts Set New Price Targets

Several research analysts have commented on NOW shares. Guggenheim reissued a “neutral” rating on shares of ServiceNow in a research note on Monday, April 15th. KeyCorp lowered their price objective on ServiceNow from $1,000.00 to $950.00 and set an “overweight” rating for the company in a research note on Thursday, April 25th. Jefferies Financial Group upped their price objective on ServiceNow from $885.00 to $900.00 and gave the company a “buy” rating in a research note on Wednesday, April 10th. StockNews.com downgraded ServiceNow from a “buy” rating to a “hold” rating in a research note on Friday, April 26th. Finally, Robert W. Baird upped their price objective on ServiceNow from $870.00 to $885.00 and gave the company an “outperform” rating in a research note on Tuesday, May 7th. Three research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $814.48.

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.