Legacy Advisors LLC Increases Stock Position in ServiceNow, Inc. (NYSE:NOW)

Legacy Advisors LLC raised its position in shares of ServiceNow, Inc. (NYSE:NOW) by 1.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,213 shares of the information technology services provider’s stock after buying an additional 56 shares during the quarter. Legacy Advisors LLC’s holdings in ServiceNow were worth $2,558,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in ServiceNow by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 19,199,258 shares of the information technology services provider’s stock valued at $20,353,517,000 after buying an additional 190,430 shares during the period. Price T Rowe Associates Inc. MD lifted its position in ServiceNow by 6.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 7,955,924 shares of the information technology services provider’s stock valued at $8,434,235,000 after buying an additional 509,467 shares during the period. FMR LLC lifted its position in ServiceNow by 4.9% during the fourth quarter. FMR LLC now owns 5,878,900 shares of the information technology services provider’s stock valued at $6,232,339,000 after buying an additional 272,506 shares during the period. Geode Capital Management LLC lifted its position in ServiceNow by 2.4% during the fourth quarter. Geode Capital Management LLC now owns 4,312,571 shares of the information technology services provider’s stock valued at $4,560,890,000 after buying an additional 100,670 shares during the period. Finally, GAMMA Investing LLC increased its holdings in shares of ServiceNow by 87,501.3% during the first quarter. GAMMA Investing LLC now owns 2,689,361 shares of the information technology services provider’s stock valued at $2,141,108,000 after acquiring an additional 2,686,291 shares in the last quarter. Hedge funds and other institutional investors own 87.18% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Robert W. Baird raised their price target on ServiceNow from $1,010.00 to $1,150.00 and gave the company an “outperform” rating in a report on Thursday, April 24th. Evercore ISI raised their price target on ServiceNow from $925.00 to $1,000.00 and gave the company an “outperform” rating in a report on Thursday, April 24th. Mizuho raised their price target on ServiceNow from $1,050.00 to $1,100.00 and gave the company an “outperform” rating in a report on Thursday, June 12th. Oppenheimer restated an “outperform” rating and set a $1,100.00 price target (up from $970.00) on shares of ServiceNow in a report on Tuesday, May 6th. Finally, Citigroup raised their price target on ServiceNow from $1,128.00 to $1,160.00 and gave the company a “buy” rating in a report on Wednesday, May 7th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-nine have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $1,062.50.

ServiceNow Trading Up 0.9%

Shares of NYSE:NOW opened at $979.72 on Tuesday. The stock has a market capitalization of $202.78 billion, a price-to-earnings ratio of 133.11, a PEG ratio of 4.48 and a beta of 0.96. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.12 and a current ratio of 1.12. The stock’s 50-day simple moving average is $968.01 and its two-hundred day simple moving average is $968.25. ServiceNow, Inc. has a 52-week low of $678.66 and a 52-week high of $1,198.09.

ServiceNow (NYSE:NOW) last announced 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. The business had revenue of $3.09 billion for the quarter, compared to analysts’ expectations of $3.09 billion. ServiceNow had a return on equity of 17.34% and a net margin of 13.41%. The business’s revenue for the quarter was up 18.6% on a year-over-year basis. During the same period last year, the firm posted $3.41 earnings per share. Analysts expect that ServiceNow, Inc. will post 8.93 EPS for the current year.

Insider Activity at ServiceNow

In related news, General Counsel Russell S. Elmer sold 191 shares of the business’s stock in a transaction that occurred on Thursday, May 8th. The stock was sold at an average price of $985.00, for a total transaction of $188,135.00. Following the completion of the transaction, the general counsel now directly owns 4,332 shares in the company, valued at approximately $4,267,020. The trade was a 4.22% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO William R. Mcdermott sold 2,050 shares of the business’s stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $1,012.01, for a total value of $2,074,620.50. Following the transaction, the chief executive officer now owns 6,614 shares of the company’s stock, valued at approximately $6,693,434.14. This trade represents a 23.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 6,716 shares of company stock worth $6,611,245. 0.38% of the stock is owned by company 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.