Valley National Advisers Inc. Grows Stake in ServiceNow, Inc. (NYSE:NOW)

Valley National Advisers Inc. increased its position in ServiceNow, Inc. (NYSE:NOW) by 28.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 978 shares of the information technology services provider’s stock after acquiring an additional 215 shares during the period. Valley National Advisers Inc.’s holdings in ServiceNow were worth $745,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of NOW. E&G Advisors LP bought a new stake in shares of ServiceNow during the 1st quarter valued at about $217,000. Leeward Financial Partners LLC grew its position in ServiceNow by 4.8% during the first quarter. Leeward Financial Partners LLC now owns 2,574 shares of the information technology services provider’s stock valued at $1,962,000 after buying an additional 118 shares during the period. State of Alaska Department of Revenue increased its holdings in ServiceNow by 0.5% during the first quarter. State of Alaska Department of Revenue now owns 23,632 shares of the information technology services provider’s stock valued at $18,016,000 after buying an additional 110 shares during the last quarter. Valeo Financial Advisors LLC raised its position in ServiceNow by 6.8% in the first quarter. Valeo Financial Advisors LLC now owns 1,997 shares of the information technology services provider’s stock worth $1,523,000 after acquiring an additional 127 shares during the period. Finally, Sivia Capital Partners LLC boosted its stake in shares of ServiceNow by 5.2% during the 1st quarter. Sivia Capital Partners LLC now owns 363 shares of the information technology services provider’s stock worth $277,000 after acquiring an additional 18 shares during the last quarter. Hedge funds and other institutional investors own 87.18% of the company’s stock.

ServiceNow Trading Down 1.0 %

NOW stock opened at $786.28 on Thursday. The firm has a market cap of $161.19 billion, a PE ratio of 84.09, a price-to-earnings-growth ratio of 4.98 and a beta of 0.99. The firm has a fifty day moving average price of $728.95 and a 200 day moving average price of $742.68. 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, Inc. has a fifty-two week low of $527.24 and a fifty-two week high of $815.32.

ServiceNow (NYSE:NOW) last issued its quarterly earnings data 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 business had revenue of $2.60 billion during the quarter, compared to analysts’ expectations of $2.59 billion. ServiceNow had a net margin of 20.34% and a return on equity of 13.59%. Sell-side analysts anticipate that ServiceNow, Inc. will post 6.5 earnings per share for the current fiscal year.

Insider Buying and Selling

In other ServiceNow news, insider Christopher Bedi sold 215 shares of the company’s stock in a transaction that occurred 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 sale, the insider now directly owns 15,892 shares in the company, valued at $11,124,400. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, insider Christopher Bedi sold 215 shares of the business’s stock in a transaction that occurred 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 transaction, the insider now owns 15,892 shares of the company’s stock, valued at approximately $11,124,400. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Nicholas Tzitzon sold 2,000 shares of the firm’s stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $690.99, for a total value of $1,381,980.00. Following the completion of the sale, the insider now owns 3,649 shares of the company’s stock, valued at $2,521,422.51. The disclosure for this sale can be found here. Over the last quarter, insiders sold 5,530 shares of company stock worth $3,997,012. Corporate insiders own 0.25% of the company’s stock.

Analysts Set New Price Targets

NOW has been the subject of several analyst reports. Wolfe Research restated an “outperform” rating and issued a $830.00 price objective on shares of ServiceNow in a research note on Friday, May 10th. KeyCorp decreased their price objective on ServiceNow from $950.00 to $920.00 and set an “overweight” rating on the stock in a research note on Tuesday. Needham & Company LLC reiterated a “buy” rating and set a $900.00 price objective on shares of ServiceNow in a research note on Tuesday, June 18th. UBS Group reduced their target price on shares of ServiceNow from $920.00 to $875.00 and set a “buy” rating for the company in a report on Thursday, April 25th. Finally, Morgan Stanley upped their price target on shares of ServiceNow from $814.00 to $830.00 and gave the stock an “overweight” rating in a research report on Thursday, April 25th. Three research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $813.28.

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.