ServiceNow, Inc. (NYSE:NOW) Shares Bought by Valeo Financial Advisors LLC

Valeo Financial Advisors LLC raised its holdings in ServiceNow, Inc. (NYSE:NOW) by 6.8% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,997 shares of the information technology services provider’s stock after purchasing an additional 127 shares during the quarter. Valeo Financial Advisors LLC’s holdings in ServiceNow were worth $1,523,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the business. Sandbox Financial Partners LLC increased its stake in shares of ServiceNow by 8.6% during the fourth quarter. Sandbox Financial Partners LLC now owns 835 shares of the information technology services provider’s stock worth $590,000 after acquiring an additional 66 shares during the period. Federated Hermes Inc. increased its stake in shares of ServiceNow by 19.8% during the fourth quarter. Federated Hermes Inc. now owns 300,122 shares of the information technology services provider’s stock worth $212,033,000 after acquiring an additional 49,631 shares during the period. Raymond James & Associates increased its stake in shares of ServiceNow by 5.9% during the fourth quarter. Raymond James & Associates now owns 331,406 shares of the information technology services provider’s stock worth $234,135,000 after acquiring an additional 18,442 shares during the period. Smithfield Trust Co increased its stake in shares of ServiceNow by 36.4% during the fourth quarter. Smithfield Trust Co now owns 981 shares of the information technology services provider’s stock worth $691,000 after acquiring an additional 262 shares during the period. Finally, Dohj LLC acquired a new position in shares of ServiceNow during the fourth quarter worth about $913,000. 87.18% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other ServiceNow news, 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 of the company’s stock, valued at approximately $2,263,606.56. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, Director Frederic B. Luddy sold 598 shares of ServiceNow stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $741.92, for a total value of $443,668.16. Following the completion of the transaction, the director now directly owns 428 shares of the company’s stock, valued at approximately $317,541.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Paul John Smith sold 125 shares of the business’s stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $727.38, for a total transaction of $90,922.50. Following the transaction, the insider now directly owns 3,112 shares of the company’s stock, valued at $2,263,606.56. The disclosure for this sale can be found here. Insiders have sold 5,530 shares of company stock valued at $3,997,012 in the last quarter. Company insiders own 0.25% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Guggenheim reaffirmed a “neutral” rating on shares of ServiceNow in a report on Monday, April 15th. Citigroup increased their target price on shares of ServiceNow from $896.00 to $906.00 and gave the company a “buy” rating in a report on Thursday, April 18th. Wells Fargo & Company increased their target price on shares of ServiceNow from $875.00 to $900.00 and gave the company an “overweight” rating in a report on Tuesday, April 16th. StockNews.com cut shares of ServiceNow from a “buy” rating to a “hold” rating in a report on Friday, April 26th. Finally, Morgan Stanley increased their price target 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. Three research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $813.28.

ServiceNow Stock Performance

Shares of NOW stock opened at $786.28 on Thursday. The company’s fifty day simple moving average is $728.95 and its 200-day simple moving average is $742.68. ServiceNow, Inc. has a 52 week low of $527.24 and a 52 week 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. The company has a market cap of $161.19 billion, a PE ratio of 84.09, a P/E/G ratio of 4.98 and a beta of 0.99.

ServiceNow (NYSE:NOW) last released its quarterly earnings results on Wednesday, April 24th. The information technology services provider reported $1.82 earnings per share (EPS) 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 firm had revenue of $2.60 billion for the quarter, compared to the consensus estimate of $2.59 billion. As a group, equities research analysts anticipate that ServiceNow, Inc. will post 6.5 EPS for the current year.

About ServiceNow

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.