Park Avenue Securities LLC Buys 42 Shares of ServiceNow, Inc. (NYSE:NOW)

Park Avenue Securities LLC increased its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 0.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,720 shares of the information technology services provider’s stock after acquiring an additional 42 shares during the quarter. Park Avenue Securities LLC’s holdings in ServiceNow were worth $7,410,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of NOW. University of Texas Texas AM Investment Managment Co. bought a new position in ServiceNow during the fourth quarter worth $29,000. AdvisorNet Financial Inc raised its holdings in ServiceNow by 266.7% during the fourth quarter. AdvisorNet Financial Inc now owns 44 shares of the information technology services provider’s stock worth $31,000 after buying an additional 32 shares during the last quarter. Disciplined Equity Management Inc. acquired a new position in ServiceNow during the fourth quarter worth $35,000. Sachetta LLC acquired a new position in ServiceNow during the fourth quarter worth $35,000. Finally, Fortitude Family Office LLC acquired a new position in ServiceNow during the fourth quarter worth $41,000. 87.18% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. JMP Securities restated a “market outperform” rating and set a $825.00 price objective on shares of ServiceNow in a report on Tuesday, May 7th. BMO Capital Markets lowered their target price on shares of ServiceNow from $850.00 to $830.00 and set an “outperform” rating for the company in a report on Thursday, April 25th. KeyCorp lowered their target price on shares of ServiceNow from $1,000.00 to $950.00 and set an “overweight” rating for the company in a report on Thursday, April 25th. Morgan Stanley raised their price objective on shares of ServiceNow from $814.00 to $830.00 and gave the stock an “overweight” rating in a report on Thursday, April 25th. Finally, StockNews.com downgraded shares of ServiceNow from a “buy” rating to a “hold” rating in a report on Friday, April 26th. Three research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $814.48.

Insider Buying and Selling

In related news, insider Nicholas Tzitzon sold 2,000 shares of ServiceNow stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $690.99, for a total value of $1,381,980.00. Following the sale, the insider now owns 3,649 shares in the company, valued at $2,521,422.51. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, insider Paul John Smith sold 190 shares of the business’s stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $718.78, for a total transaction of $136,568.20. Following the sale, the insider now owns 3,010 shares in the company, valued at approximately $2,163,527.80. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Nicholas Tzitzon sold 2,000 shares of the business’s stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $690.99, for a total transaction of $1,381,980.00. Following the sale, the insider now owns 3,649 shares in the company, valued at approximately $2,521,422.51. The disclosure for this sale can be found here. Insiders have sold a total of 5,530 shares of company stock valued at $3,997,012 over the last three months. 0.25% of the stock is owned by company insiders.

ServiceNow Trading Up 2.1 %

NOW stock opened at $749.98 on Friday. The company has a market capitalization of $153.75 billion, a PE ratio of 80.21, a price-to-earnings-growth ratio of 4.60 and a beta of 0.96. ServiceNow, Inc. has a one year low of $527.24 and a one year high of $815.32. The company’s 50 day moving average price is $723.59 and its two-hundred day moving average price is $738.50. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.05 and a current ratio of 1.05.

ServiceNow (NYSE:NOW) last posted its quarterly earnings results on Wednesday, April 24th. The information technology services provider reported $1.82 EPS for the quarter, topping the consensus estimate of $1.41 by $0.41. ServiceNow had a net margin of 20.34% and a return on equity of 13.59%. The firm had revenue of $2.60 billion for the quarter, compared to the consensus estimate of $2.59 billion. As a group, analysts predict that ServiceNow, Inc. will post 6.5 earnings per share for the current fiscal year.

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.