Cullinan Associates Inc. Buys 200 Shares of ServiceNow, Inc. (NYSE:NOW)

Cullinan Associates Inc. boosted its position in shares of ServiceNow, Inc. (NYSE:NOW) by 22.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,100 shares of the information technology services provider’s stock after purchasing an additional 200 shares during the period. Cullinan Associates Inc.’s holdings in ServiceNow were worth $839,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. University of Texas Texas AM Investment Managment Co. bought a new position in shares of ServiceNow during the 4th quarter worth approximately $29,000. AdvisorNet Financial Inc boosted its holdings in ServiceNow by 266.7% during the fourth quarter. AdvisorNet Financial Inc now owns 44 shares of the information technology services provider’s stock worth $31,000 after purchasing an additional 32 shares during the last quarter. Disciplined Equity Management Inc. bought a new position in ServiceNow in the fourth quarter valued at $35,000. Sachetta LLC acquired a new stake in ServiceNow in the 4th quarter valued at $35,000. Finally, Fortitude Family Office LLC bought a new stake in ServiceNow during the 4th quarter worth about $41,000. Institutional investors and hedge funds own 87.18% of the company’s stock.

ServiceNow Price Performance

ServiceNow stock opened at $794.11 on Wednesday. The stock has a market capitalization of $162.79 billion, a price-to-earnings ratio of 84.93, a PEG ratio of 4.93 and a beta of 0.99. ServiceNow, Inc. has a 52-week low of $527.24 and a 52-week high of $815.32. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.05 and a current ratio of 1.05. The stock’s 50 day moving average price is $727.88 and its two-hundred day moving average price is $742.00.

ServiceNow (NYSE:NOW) last posted its quarterly 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 net margin of 20.34% and a return on equity of 13.59%. The business had revenue of $2.60 billion during the quarter, compared to analysts’ expectations of $2.59 billion. On average, equities analysts predict that ServiceNow, Inc. will post 6.5 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Needham & Company LLC reiterated a “buy” rating and set a $900.00 target price on shares of ServiceNow in a report on Tuesday, June 18th. UBS Group cut their price objective on ServiceNow from $920.00 to $875.00 and set a “buy” rating for the company in a report on Thursday, April 25th. Stifel Nicolaus reaffirmed a “buy” rating and set a $820.00 price target on shares of ServiceNow in a research report on Tuesday. Citigroup lifted their price objective on shares of ServiceNow from $896.00 to $906.00 and gave the company a “buy” rating in a research report on Thursday, April 18th. Finally, William Blair reaffirmed an “outperform” rating on shares of ServiceNow in a report 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.com, ServiceNow has a consensus rating of “Moderate Buy” and a consensus target price of $813.28.

Insider Buying and Selling

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

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.