Boomfish Wealth Group LLC Buys 57 Shares of ServiceNow, Inc. (NYSE:NOW)

Boomfish Wealth Group LLC increased its stake in ServiceNow, Inc. (NYSE:NOW) by 1.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,069 shares of the information technology services provider’s stock after acquiring an additional 57 shares during the period. ServiceNow comprises about 1.6% of Boomfish Wealth Group LLC’s holdings, making the stock its 22nd largest holding. Boomfish Wealth Group LLC’s holdings in ServiceNow were worth $2,443,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. TBH Global Asset Management LLC boosted its holdings in shares of ServiceNow by 3.8% in the fourth quarter. TBH Global Asset Management LLC now owns 302 shares of the information technology services provider’s stock valued at $320,000 after purchasing an additional 11 shares during the period. Onefund LLC boosted its holdings in shares of ServiceNow by 2.0% in the fourth quarter. Onefund LLC now owns 552 shares of the information technology services provider’s stock valued at $585,000 after purchasing an additional 11 shares during the period. Cassady Schiller Wealth Management LLC boosted its holdings in shares of ServiceNow by 44.0% in the fourth quarter. Cassady Schiller Wealth Management LLC now owns 36 shares of the information technology services provider’s stock valued at $38,000 after purchasing an additional 11 shares during the period. Plancorp LLC boosted its holdings in shares of ServiceNow by 4.1% in the fourth quarter. Plancorp LLC now owns 308 shares of the information technology services provider’s stock valued at $327,000 after purchasing an additional 12 shares during the period. Finally, Kesler Norman & Wride LLC boosted its holdings in shares of ServiceNow by 1.2% in the fourth quarter. Kesler Norman & Wride LLC now owns 1,092 shares of the information technology services provider’s stock valued at $1,157,000 after purchasing an additional 13 shares during the period. Institutional investors own 87.18% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on NOW shares. Sanford C. Bernstein reissued an “outperform” rating and issued a $1,003.00 price objective on shares of ServiceNow in a research note on Thursday, April 24th. Wells Fargo & Company boosted their price objective on shares of ServiceNow from $1,100.00 to $1,150.00 and gave the stock an “overweight” rating in a research note on Thursday, April 24th. Oppenheimer reissued an “outperform” rating and issued a $1,100.00 price objective (up previously from $970.00) on shares of ServiceNow in a research note on Tuesday, May 6th. Royal Bank of Canada boosted their price objective on shares of ServiceNow from $1,060.00 to $1,100.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 6th. Finally, Truist Financial raised shares of ServiceNow from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $950.00 to $1,200.00 in a research note on Thursday, May 1st. One analyst has rated the stock with a sell rating, three have given a hold rating, twenty-nine have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $1,062.50.

ServiceNow Trading Up 1.7%

NOW stock opened at $1,005.27 on Tuesday. The company’s 50-day simple moving average is $950.17 and its 200-day simple moving average is $972.18. 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, Inc. has a 52-week low of $678.66 and a 52-week high of $1,198.09. The firm has a market cap of $208.07 billion, a P/E ratio of 147.19, a PEG ratio of 4.51 and a beta of 0.95.

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

Insider Activity at ServiceNow

In related news, insider Jacqueline P. Canney sold 354 shares of the firm’s stock in a transaction dated Wednesday, April 16th. The shares were sold at an average price of $804.61, for a total value of $284,831.94. Following the transaction, the insider now directly owns 3,027 shares of the company’s stock, valued at approximately $2,435,554.47. This trade represents a 10.47% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Vice Chairman Nicholas Tzitzon sold 1,171 shares of the stock in a transaction dated Friday, May 30th. The shares were sold at an average price of $1,020.00, for a total transaction of $1,194,420.00. Following the completion of the sale, the insider now owns 3,000 shares of the company’s stock, valued at approximately $3,060,000. The trade was a 28.07% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 6,716 shares of company stock valued at $6,611,245. 0.38% of the stock is owned by corporate insiders.

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.