Winthrop Advisory Group LLC Purchases 59 Shares of ServiceNow, Inc. (NYSE:NOW)

Winthrop Advisory Group LLC lifted its position in ServiceNow, Inc. (NYSE:NOW) by 9.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 692 shares of the information technology services provider’s stock after acquiring an additional 59 shares during the quarter. Winthrop Advisory Group LLC’s holdings in ServiceNow were worth $551,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Quarry LP bought a new stake in shares of ServiceNow in the 4th quarter worth about $27,000. Atala Financial Inc bought a new stake in ServiceNow during the 4th quarter valued at about $28,000. LFA Lugano Financial Advisors SA bought a new stake in ServiceNow during the 4th quarter valued at about $32,000. Noble Wealth Management PBC bought a new stake in ServiceNow during the 4th quarter valued at about $34,000. Finally, FPC Investment Advisory Inc. lifted its holdings in ServiceNow by 725.0% during the 4th quarter. FPC Investment Advisory Inc. now owns 33 shares of the information technology services provider’s stock valued at $34,000 after buying an additional 29 shares in the last quarter. Institutional investors own 87.18% of the company’s stock.

Insider Buying and Selling

In related news, Director Anita M. Sands sold 428 shares of the stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $1,013.61, for a total transaction of $433,825.08. Following the sale, the director now directly owns 10,891 shares of the company’s stock, valued at approximately $11,039,226.51. This represents a 3.78% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Jacqueline P. Canney sold 66 shares of the stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $1,023.00, for a total transaction of $67,518.00. Following the sale, the insider now directly owns 3,027 shares in the company, valued at $3,096,621. This trade represents a 2.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 3,102 shares of company stock valued at $2,944,038. Corporate insiders own 0.38% of the company’s stock.

ServiceNow Trading Down 0.3%

Shares of ServiceNow stock opened at $1,011.80 on Friday. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.15. ServiceNow, Inc. has a 12-month low of $637.99 and a 12-month high of $1,198.09. The firm has a market capitalization of $209.43 billion, a price-to-earnings ratio of 148.14, a PEG ratio of 4.51 and a beta of 0.97. The firm’s 50 day simple moving average is $899.20 and its two-hundred day simple moving average is $975.24.

ServiceNow (NYSE:NOW) last released its quarterly earnings data on Wednesday, April 23rd. The information technology services provider reported $4.04 earnings per share for the quarter, topping analysts’ consensus estimates of $3.78 by $0.26. The firm had revenue of $3.09 billion for the quarter, compared to analyst estimates of $3.09 billion. ServiceNow had a net margin of 12.97% and a return on equity of 17.11%. The business’s quarterly revenue was up 18.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.41 earnings per share. Analysts predict that ServiceNow, Inc. will post 8.93 EPS for the current year.

Analysts Set New Price Targets

NOW has been the subject of a number of research analyst reports. Bank of America decreased their price objective on shares of ServiceNow from $1,280.00 to $1,025.00 and set a “buy” rating for the company in a report on Tuesday, April 15th. Oppenheimer reiterated an “outperform” rating and set a $1,100.00 price objective (up previously from $970.00) on shares of ServiceNow in a report on Tuesday, May 6th. TD Securities restated a “buy” rating and issued a $1,100.00 price target on shares of ServiceNow in a report on Thursday, April 24th. Guggenheim boosted their price target on shares of ServiceNow from $716.00 to $724.00 and gave the company a “sell” rating in a report on Thursday, April 24th. Finally, JMP Securities restated a “market outperform” rating and issued a $1,300.00 price target on shares of ServiceNow in a report on Tuesday, May 6th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-nine have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $1,062.50.

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.