ServiceNow, Inc. (NYSE:NOW) Shares Purchased by Harbor Investment Advisory LLC

Harbor Investment Advisory LLC increased its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 161.7% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,696 shares of the information technology services provider’s stock after acquiring an additional 1,048 shares during the period. Harbor Investment Advisory LLC’s holdings in ServiceNow were worth $1,293,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of NOW. Global Assets Advisory LLC acquired a new stake in ServiceNow in the 1st quarter worth about $403,034,000. Traynor Capital Management Inc. boosted its holdings in ServiceNow by 7.9% in the 1st quarter. Traynor Capital Management Inc. now owns 327 shares of the information technology services provider’s stock worth $249,000 after buying an additional 24 shares during the last quarter. CHICAGO TRUST Co NA boosted its holdings in ServiceNow by 44.4% in the 1st quarter. CHICAGO TRUST Co NA now owns 618 shares of the information technology services provider’s stock worth $471,000 after buying an additional 190 shares during the last quarter. Westend Capital Management LLC acquired a new stake in ServiceNow in the 1st quarter worth about $4,690,000. Finally, FCF Advisors LLC boosted its holdings in shares of ServiceNow by 4.9% during the 1st quarter. FCF Advisors LLC now owns 6,555 shares of the information technology services provider’s stock worth $4,998,000 after purchasing an additional 308 shares during the last quarter. 87.18% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider Christopher Bedi sold 215 shares of the stock in a transaction dated Wednesday, June 5th. The shares were sold at an average price of $700.00, for a total transaction of $150,500.00. Following the completion of the transaction, the insider now directly owns 15,892 shares of the company’s stock, valued at $11,124,400. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other ServiceNow news, insider Christopher Bedi sold 215 shares of the stock in a transaction dated Wednesday, June 5th. The shares were sold at an average price of $700.00, for a total value of $150,500.00. Following the completion of the transaction, the insider now directly owns 15,892 shares of the company’s stock, valued at $11,124,400. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Paul John Smith sold 190 shares of the stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $718.78, for a total transaction of $136,568.20. Following the completion of the transaction, the insider now directly owns 3,010 shares of the company’s stock, valued at $2,163,527.80. The disclosure for this sale can be found here. Insiders sold 5,530 shares of company stock valued at $3,997,012 over the last ninety days. Corporate insiders own 0.25% of the company’s stock.

ServiceNow Stock Performance

Shares of NOW stock opened at $739.59 on Tuesday. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.18. The firm has a fifty day moving average price of $723.67 and a 200 day moving average price of $739.59. The company has a market cap 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.

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

Analyst Ratings Changes

NOW has been the topic of several recent research reports. BMO Capital Markets lowered their target price on ServiceNow from $850.00 to $830.00 and set an “outperform” rating on the stock in a report on Thursday, April 25th. Needham & Company LLC restated a “buy” rating and set a $900.00 target price on shares of ServiceNow in a report on Tuesday, June 18th. Guggenheim restated a “neutral” rating on shares of ServiceNow in a report on Monday, April 15th. Robert W. Baird lifted their price target on shares of ServiceNow from $870.00 to $885.00 and gave the company an “outperform” rating in a research report on Tuesday, May 7th. Finally, William Blair reaffirmed an “outperform” rating on shares of ServiceNow in a research report on Tuesday, May 7th. Three research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company. According to data from MarketBeat.com, ServiceNow presently has an average rating of “Moderate Buy” and an average target price of $814.48.

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.