Register Financial Advisors LLC Purchases New Position in ServiceNow, Inc. (NYSE:NOW)

Register Financial Advisors LLC purchased a new stake in ServiceNow, Inc. (NYSE:NOW) during the first quarter, Holdings Channel reports. The institutional investor purchased 181 shares of the information technology services provider’s stock, valued at approximately $138,000.

A number of other hedge funds have also modified their holdings of the company. Vanguard Group Inc. raised its position in shares of ServiceNow by 0.7% in the 3rd quarter. Vanguard Group Inc. now owns 17,753,781 shares of the information technology services provider’s stock valued at $9,923,653,000 after acquiring an additional 122,577 shares during the period. Jennison Associates LLC increased its stake in ServiceNow by 2.2% during the 4th quarter. Jennison Associates LLC now owns 2,521,190 shares of the information technology services provider’s stock worth $1,781,195,000 after purchasing an additional 53,719 shares in the last quarter. Norges Bank bought a new stake in ServiceNow during the 4th quarter worth approximately $1,648,259,000. Massachusetts Financial Services Co. MA increased its stake in ServiceNow by 3.7% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,281,748 shares of the information technology services provider’s stock worth $1,612,032,000 after purchasing an additional 81,028 shares in the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its stake in ServiceNow by 18.3% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 1,754,027 shares of the information technology services provider’s stock worth $1,239,198,000 after purchasing an additional 271,153 shares in the last quarter. 87.18% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. William Blair reissued an “outperform” rating on shares of ServiceNow in a research note on Tuesday, May 7th. Robert W. Baird raised their price target on shares of ServiceNow from $870.00 to $885.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 7th. Needham & Company LLC reaffirmed a “buy” rating and set a $900.00 price target on shares of ServiceNow in a research note on Tuesday, June 18th. Jefferies Financial Group raised their price target on shares of ServiceNow from $885.00 to $900.00 and gave the stock a “buy” rating in a research note on Wednesday, April 10th. Finally, UBS Group decreased their price target on shares of ServiceNow from $920.00 to $875.00 and set a “buy” rating for the company in a research note on Thursday, April 25th. Three investment analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $814.48.

Insider Buying and Selling at ServiceNow

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

ServiceNow Trading Up 1.7 %

Shares of ServiceNow stock opened at $787.19 on Friday. The business has a fifty day simple moving average of $726.55 and a two-hundred day simple moving average of $740.89. ServiceNow, Inc. has a 1 year low of $527.24 and a 1 year high of $815.32. The company has a market capitalization of $161.37 billion, a price-to-earnings ratio of 84.19, a P/E/G ratio of 4.85 and a beta of 0.96. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.05 and a quick ratio of 1.05.

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

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.