ServiceNow, Inc. (NYSE:NOW) Shares Acquired by Traynor Capital Management Inc.

Traynor Capital Management Inc. lifted its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 7.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 327 shares of the information technology services provider’s stock after purchasing an additional 24 shares during the quarter. Traynor Capital Management Inc.’s holdings in ServiceNow were worth $249,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in NOW. Algert Global LLC acquired a new stake in ServiceNow in the 3rd quarter valued at approximately $310,000. Cary Street Partners Investment Advisory LLC increased its position in ServiceNow by 19.0% in the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 370 shares of the information technology services provider’s stock valued at $207,000 after acquiring an additional 59 shares during the period. Bay Colony Advisory Group Inc d b a Bay Colony Advisors acquired a new stake in ServiceNow in the 3rd quarter valued at approximately $227,000. Parkside Financial Bank & Trust increased its position in ServiceNow by 23.0% in the 3rd quarter. Parkside Financial Bank & Trust now owns 610 shares of the information technology services provider’s stock valued at $341,000 after acquiring an additional 114 shares during the period. Finally, Operose Advisors LLC acquired a new stake in ServiceNow in the 3rd quarter valued at approximately $62,000. 87.18% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently commented on NOW shares. StockNews.com cut ServiceNow from a “buy” rating to a “hold” rating in a research report on Friday, April 26th. Guggenheim reaffirmed a “neutral” rating on shares of ServiceNow in a research note on Monday, April 15th. William Blair reaffirmed an “outperform” rating on shares of ServiceNow in a research note on Tuesday, May 7th. KeyCorp decreased their price target on ServiceNow from $1,000.00 to $950.00 and set an “overweight” rating for the company in a research note on Thursday, April 25th. Finally, Citigroup increased their price target on ServiceNow from $896.00 to $906.00 and gave the company a “buy” rating in a research note on Thursday, April 18th. Three research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $814.48.

Insider Activity

In other news, insider Christopher Bedi sold 215 shares of the stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $700.00, for a total value of $150,500.00. Following the completion of the sale, the insider now owns 15,892 shares in the company, valued at $11,124,400. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Christopher Bedi sold 215 shares of ServiceNow stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $700.00, for a total transaction of $150,500.00. Following the completion of the sale, the insider now owns 15,892 shares of the company’s stock, valued at $11,124,400. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Paul John Smith sold 125 shares of ServiceNow stock in a transaction on Monday, May 13th. The shares were sold at an average price of $727.38, for a total value of $90,922.50. Following the sale, the insider now directly owns 3,112 shares of the company’s stock, valued at approximately $2,263,606.56. The disclosure for this sale can be found here. Insiders sold 5,530 shares of company stock worth $3,997,012 over the last quarter. Corporate insiders own 0.25% of the company’s stock.

ServiceNow Price Performance

NOW opened at $739.59 on Tuesday. The stock has a fifty day moving average of $723.67 and a 200-day moving average of $739.59. The firm has a market capitalization of $151.62 billion, a P/E ratio of 79.10, a PEG ratio of 4.70 and a beta of 0.96. ServiceNow, Inc. has a 12-month low of $527.24 and a 12-month high of $815.32. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.18.

ServiceNow (NYSE:NOW) last released its earnings results on Wednesday, April 24th. The information technology services provider reported $1.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.41 by $0.41. The company had revenue of $2.60 billion during the quarter, compared to analyst estimates of $2.59 billion. ServiceNow had a return on equity of 13.59% and a net margin of 20.34%. Equities analysts forecast that ServiceNow, Inc. will post 6.5 EPS for the current fiscal year.

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.