636 Shares in ServiceNow, Inc. (NYSE:NOW) Bought by SteelPeak Wealth LLC

SteelPeak Wealth LLC purchased a new position in ServiceNow, Inc. (NYSE:NOW) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 636 shares of the information technology services provider’s stock, valued at approximately $485,000.

Other institutional investors also recently bought and sold shares of the company. University of Texas Texas AM Investment Managment Co. purchased a new stake in ServiceNow in the fourth quarter worth $29,000. AdvisorNet Financial Inc increased its stake in ServiceNow by 266.7% in the fourth quarter. AdvisorNet Financial Inc now owns 44 shares of the information technology services provider’s stock worth $31,000 after purchasing an additional 32 shares during the period. Disciplined Equity Management Inc. purchased a new stake in ServiceNow in the fourth quarter worth $35,000. Sachetta LLC purchased a new stake in ServiceNow in the fourth quarter worth $35,000. Finally, Fortitude Family Office LLC purchased a new stake in ServiceNow in the fourth quarter worth $41,000. 87.18% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts have weighed in on NOW shares. Morgan Stanley increased their target price on ServiceNow from $814.00 to $830.00 and gave the stock an “overweight” rating in a research note on Thursday, April 25th. Stifel Nicolaus restated a “buy” rating and set a $820.00 price target on shares of ServiceNow in a research note on Wednesday, March 20th. William Blair restated an “outperform” rating on shares of ServiceNow in a research note on Tuesday, May 7th. Citigroup raised 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. Finally, KeyCorp cut their price target on ServiceNow from $1,000.00 to $950.00 and set an “overweight” rating on the stock in a research note on Thursday, April 25th. Three research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company’s stock. Based on data from MarketBeat, ServiceNow has an average rating of “Moderate Buy” and an average target price of $814.48.

Insider Activity at ServiceNow

In related news, insider Paul John Smith sold 190 shares of ServiceNow stock in a transaction that occurred 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 transaction, the insider now directly owns 3,010 shares in the company, valued at $2,163,527.80. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, CFO Gina Mastantuono sold 1,800 shares of the business’s stock in a transaction that occurred on 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 sale, the chief financial officer now directly owns 13,290 shares in the company, valued at $9,819,715.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Paul John Smith sold 190 shares of the business’s stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $718.78, for a total value 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 disclosure for this sale can be found here. Over the last ninety days, insiders sold 5,530 shares of company stock worth $3,997,012. 0.25% of the stock is owned by corporate insiders.

ServiceNow Stock Performance

Shares of ServiceNow stock traded up $12.54 on Friday, reaching $786.67. 1,721,786 shares of the stock were exchanged, compared to its average volume of 1,451,259. 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, Inc. has a twelve month low of $527.24 and a twelve month high of $815.32. The firm has a market capitalization of $161.27 billion, a price-to-earnings ratio of 84.14, a PEG ratio of 4.93 and a beta of 0.96. The business has a 50 day moving average price of $726.55 and a two-hundred day moving average price of $741.24.

ServiceNow (NYSE:NOW) last released 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. ServiceNow had a return on equity of 13.59% and a net margin of 20.34%. The firm had revenue of $2.60 billion during the quarter, compared to the consensus estimate of $2.59 billion. Analysts anticipate 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.