First Affirmative Financial Network Acquires 48 Shares of ServiceNow, Inc. (NYSE:NOW)

First Affirmative Financial Network boosted its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 5.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 872 shares of the information technology services provider’s stock after purchasing an additional 48 shares during the quarter. First Affirmative Financial Network’s holdings in ServiceNow were worth $694,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in NOW. Janus Henderson Group PLC raised its holdings in ServiceNow by 1.5% in the 4th quarter. Janus Henderson Group PLC now owns 824,725 shares of the information technology services provider’s stock valued at $874,258,000 after acquiring an additional 12,533 shares in the last quarter. Union Bancaire Privee UBP SA acquired a new position in ServiceNow in the 4th quarter valued at approximately $48,802,000. Dock Street Asset Management Inc. raised its holdings in ServiceNow by 3.4% in the 4th quarter. Dock Street Asset Management Inc. now owns 33,154 shares of the information technology services provider’s stock valued at $35,147,000 after acquiring an additional 1,105 shares in the last quarter. FMR LLC raised its holdings in ServiceNow by 4.9% in the 4th quarter. FMR LLC now owns 5,878,900 shares of the information technology services provider’s stock valued at $6,232,339,000 after acquiring an additional 272,506 shares in the last quarter. Finally, Duncker Streett & Co. Inc. raised its holdings in ServiceNow by 4.8% in the 4th quarter. Duncker Streett & Co. Inc. now owns 6,376 shares of the information technology services provider’s stock valued at $6,759,000 after acquiring an additional 290 shares in the last quarter. Institutional investors own 87.18% of the company’s stock.

ServiceNow Stock Up 1.3%

Shares of NOW opened at $1,030.70 on Friday. The firm has a market capitalization of $213.34 billion, a price-to-earnings ratio of 150.91, a PEG ratio of 4.51 and a beta of 0.95. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.10 and a current ratio of 1.10. The business’s fifty day moving average price is $919.44 and its two-hundred day moving average price is $974.97. ServiceNow, Inc. has a 52 week low of $678.66 and a 52 week high of $1,198.09.

ServiceNow (NYSE:NOW) last posted its quarterly 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 return on equity of 17.11% and a net margin of 12.97%. The business had revenue of $3.09 billion for the quarter, compared to analyst estimates of $3.09 billion. During the same period last year, the company earned $3.41 EPS. The firm’s revenue was up 18.6% on a year-over-year basis. On average, analysts predict that ServiceNow, Inc. will post 8.93 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms have commented on NOW. Mizuho cut their price target on ServiceNow from $1,210.00 to $1,100.00 and set an “outperform” rating for the company in a report on Tuesday, March 11th. Piper Sandler dropped their target price on ServiceNow from $1,200.00 to $1,120.00 and set an “overweight” rating for the company in a report on Thursday, April 24th. Bank of America dropped their target price on ServiceNow from $1,280.00 to $1,025.00 and set a “buy” rating for the company in a report on Tuesday, April 15th. Citigroup increased their target price on ServiceNow from $1,128.00 to $1,160.00 and gave the stock a “buy” rating in a report on Wednesday, May 7th. Finally, Robert W. Baird increased their target price on ServiceNow from $1,010.00 to $1,150.00 and gave the stock an “outperform” rating in a report on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, thirty have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $1,062.50.

Insider Transactions at ServiceNow

In other news, 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 transaction, the director now directly owns 10,643 shares in the company, valued at $10,740,277.02. This trade represents a 2.28% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Deborah Black sold 598 shares of the firm’s stock in a transaction on Friday, April 25th. The stock was sold at an average price of $940.23, for a total value of $562,257.54. Following the completion of the transaction, the director now owns 428 shares in the company, valued at $402,418.44. This represents a 58.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 6,716 shares of company stock worth $6,611,245 in the last three months. Insiders own 0.38% of the company’s stock.

ServiceNow Company 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.