751 Shares in ServiceNow, Inc. (NYSE:NOW) Bought by USA Financial Formulas

USA Financial Formulas acquired a new position in shares of ServiceNow, Inc. (NYSE:NOW) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 751 shares of the information technology services provider’s stock, valued at approximately $598,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Quarry LP acquired a new position in ServiceNow during the 4th quarter worth about $27,000. Atala Financial Inc acquired a new position in ServiceNow during the 4th quarter worth about $28,000. LFA Lugano Financial Advisors SA acquired a new position in ServiceNow during the 4th quarter worth about $32,000. 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 worth $34,000 after buying an additional 29 shares during the period. Finally, Noble Wealth Management PBC acquired a new position in ServiceNow during the 4th quarter worth about $34,000. Institutional investors own 87.18% of the company’s stock.

Insider Transactions at ServiceNow

In other news, Vice Chairman Nicholas Tzitzon sold 1,171 shares of the firm’s stock in a transaction on Friday, May 30th. The stock was sold at an average price of $1,020.00, for a total value of $1,194,420.00. Following the completion of the transaction, the insider now directly owns 3,000 shares of the company’s stock, valued at $3,060,000. This trade represents a 28.07% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Anita M. Sands sold 248 shares of the firm’s stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $1,009.14, for a total value of $250,266.72. Following the completion of the transaction, the director now directly owns 10,643 shares of the company’s stock, valued at $10,740,277.02. The trade was a 2.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 6,716 shares of company stock valued at $6,611,245 over the last three months. Company insiders own 0.38% of the company’s stock.

ServiceNow Stock Performance

NOW stock opened at $1,009.94 on Wednesday. The business has a 50 day moving average of $928.22 and a 200-day moving average of $974.13. ServiceNow, Inc. has a 12-month low of $678.66 and a 12-month high of $1,198.09. The firm has a market cap of $209.04 billion, a PE ratio of 147.87, a P/E/G ratio of 4.51 and a beta of 0.95. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.15.

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

Analyst Upgrades and Downgrades

NOW has been the topic of several recent research reports. UBS Group reaffirmed a “buy” rating and set a $1,025.00 target price (up from $900.00) on shares of ServiceNow in a report on Thursday, April 24th. Oppenheimer reaffirmed an “outperform” rating and set a $1,100.00 target price (up from $970.00) on shares of ServiceNow in a report on Tuesday, May 6th. JMP Securities reaffirmed a “market outperform” rating and set a $1,300.00 target price on shares of ServiceNow in a report on Tuesday, May 6th. Redburn Atlantic started coverage on ServiceNow in a research note on Wednesday, February 19th. They issued a “buy” rating on the stock. Finally, Evercore ISI boosted their price objective on ServiceNow from $925.00 to $1,000.00 and gave the company an “outperform” rating in a research note on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-nine have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $1,062.50.

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.