Chapin Davis Inc. Buys Shares of 498 ServiceNow, Inc. (NYSE:NOW)

Chapin Davis Inc. acquired a new position in ServiceNow, Inc. (NYSE:NOW) during the 1st quarter, Holdings Channel.com reports. The institutional investor acquired 498 shares of the information technology services provider’s stock, valued at approximately $380,000.

Several other institutional investors have also recently made changes to their positions in NOW. Algert Global LLC bought a new position in shares of ServiceNow in the third quarter worth about $310,000. AQR Capital Management LLC raised its stake in ServiceNow by 47.7% during the 3rd quarter. AQR Capital Management LLC now owns 70,167 shares of the information technology services provider’s stock valued at $39,221,000 after purchasing an additional 22,652 shares during the period. Truist Financial Corp raised its stake in ServiceNow by 37.2% during the 3rd quarter. Truist Financial Corp now owns 91,409 shares of the information technology services provider’s stock valued at $51,094,000 after purchasing an additional 24,795 shares during the period. Glenmede Trust Co. NA raised its stake in ServiceNow by 2.7% during the 3rd quarter. Glenmede Trust Co. NA now owns 46,353 shares of the information technology services provider’s stock valued at $25,909,000 after purchasing an additional 1,200 shares during the period. Finally, Shelton Capital Management raised its stake in ServiceNow by 31.2% during the 3rd quarter. Shelton Capital Management now owns 7,143 shares of the information technology services provider’s stock valued at $3,993,000 after purchasing an additional 1,700 shares during the period. Institutional investors own 87.18% of the company’s stock.

Analyst Ratings Changes

NOW has been the topic of several recent analyst reports. Stifel Nicolaus reissued a “buy” rating and set a $820.00 target price on shares of ServiceNow in a research note on Wednesday, March 20th. StockNews.com cut ServiceNow from a “buy” rating to a “hold” rating in a report on Friday, April 26th. Wolfe Research reiterated an “outperform” rating and issued a $830.00 target price on shares of ServiceNow in a report on Friday, May 10th. BMO Capital Markets dropped their target price on ServiceNow from $850.00 to $830.00 and set an “outperform” rating for the company in a report on Thursday, April 25th. Finally, UBS Group dropped their target price on ServiceNow from $920.00 to $875.00 and set a “buy” rating for the company in a report on Thursday, April 25th. Three investment analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $814.48.

Insider Buying and Selling at ServiceNow

In other ServiceNow news, insider Paul John Smith sold 125 shares of the business’s stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $727.38, for a total transaction of $90,922.50. Following the sale, the insider now owns 3,112 shares in the company, valued at approximately $2,263,606.56. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, CFO Gina Mastantuono sold 1,800 shares of the company’s stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $738.88, for a total value of $1,329,984.00. Following the completion of the transaction, the chief financial officer now owns 13,290 shares of the company’s stock, valued at approximately $9,819,715.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Paul John Smith sold 125 shares of the company’s stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $727.38, for a total value of $90,922.50. Following the completion of the transaction, 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. In the last 90 days, insiders have sold 5,530 shares of company stock worth $3,997,012. 0.25% of the stock is currently owned by insiders.

ServiceNow Stock Up 0.3 %

Shares of NOW stock opened at $788.96 on Tuesday. ServiceNow, Inc. has a 1-year low of $527.24 and a 1-year high of $815.32. The stock’s fifty day moving average price is $726.55 and its 200 day moving average price is $741.24. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.05 and a quick ratio of 1.05. The company has a market cap of $161.74 billion, a price-to-earnings ratio of 84.38, a price-to-earnings-growth ratio of 4.93 and a beta of 0.99.

ServiceNow (NYSE:NOW) last announced its earnings results on Wednesday, April 24th. The information technology services provider reported $1.82 earnings per share for the quarter, topping 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 firm had revenue of $2.60 billion for the quarter, compared to the consensus estimate of $2.59 billion. On average, research analysts expect that ServiceNow, Inc. will post 6.5 earnings per share 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.