Edge Financial Advisors LLC Acquires Shares of 326 ServiceNow, Inc. (NYSE:NOW)

Edge Financial Advisors LLC purchased a new position in shares of ServiceNow, Inc. (NYSE:NOW) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 326 shares of the information technology services provider’s stock, valued at approximately $249,000.

A number of other hedge funds have also made changes to their positions in the stock. SeaTown Holdings Pte. Ltd. acquired a new stake in shares of ServiceNow during the first quarter worth approximately $9,095,000. Strategic Advisors LLC grew its position in shares of ServiceNow by 1.4% during the first quarter. Strategic Advisors LLC now owns 1,601 shares of the information technology services provider’s stock worth $1,221,000 after buying an additional 22 shares in the last quarter. Maryland State Retirement & Pension System grew its position in shares of ServiceNow by 0.9% during the first quarter. Maryland State Retirement & Pension System now owns 15,986 shares of the information technology services provider’s stock worth $11,749,000 after buying an additional 135 shares in the last quarter. Cohen Investment Advisors LLC grew its position in shares of ServiceNow by 3.6% during the first quarter. Cohen Investment Advisors LLC now owns 4,260 shares of the information technology services provider’s stock worth $3,248,000 after buying an additional 148 shares in the last quarter. Finally, Teamwork Financial Advisors LLC lifted its stake in ServiceNow by 1,034.0% during the first quarter. Teamwork Financial Advisors LLC now owns 11,521 shares of the information technology services provider’s stock worth $8,784,000 after purchasing an additional 10,505 shares during the last quarter. Institutional investors and hedge funds own 87.18% of the company’s stock.

Analysts Set New Price Targets

NOW has been the topic of several research analyst reports. JMP Securities restated a “market outperform” rating and set a $825.00 price objective on shares of ServiceNow in a research note on Tuesday, May 7th. Wolfe Research restated an “outperform” rating and set a $830.00 price objective on shares of ServiceNow in a research note on Friday, May 10th. Stifel Nicolaus restated a “buy” rating and set a $820.00 price objective on shares of ServiceNow in a research note on Tuesday. Citigroup raised their price objective on ServiceNow from $896.00 to $906.00 and gave the stock a “buy” rating in a research note on Thursday, April 18th. Finally, KeyCorp reduced 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. Three investment analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $813.28.

Insider Buying and Selling

In related news, insider Paul John Smith sold 602 shares of ServiceNow stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $769.75, for a total transaction of $463,389.50. Following the transaction, the insider now directly owns 3,619 shares of the company’s stock, valued at $2,785,725.25. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, insider Christopher Bedi sold 215 shares of ServiceNow stock in a transaction dated 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 directly owns 15,892 shares of the company’s stock, valued at $11,124,400. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Paul John Smith sold 602 shares of ServiceNow stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $769.75, for a total value of $463,389.50. Following the completion of the transaction, the insider now directly owns 3,619 shares in the company, valued at approximately $2,785,725.25. The disclosure for this sale can be found here. Insiders have sold a total of 5,530 shares of company stock valued at $3,997,012 over the last three months. Company insiders own 0.25% of the company’s stock.

ServiceNow Stock Performance

Shares of NYSE NOW traded up $7.26 during midday trading on Friday, reaching $793.18. 250,376 shares of the company traded hands, compared to its average volume of 1,266,983. ServiceNow, Inc. has a 52 week low of $527.24 and a 52 week high of $815.32. The stock has a 50-day moving average price of $731.14 and a 200 day moving average price of $743.28. 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 $162.60 billion, a price-to-earnings ratio of 84.06, a PEG ratio of 4.93 and a beta of 0.99.

ServiceNow (NYSE:NOW) last issued its quarterly earnings data on Wednesday, April 24th. The information technology services provider reported $1.82 earnings per share for the quarter, beating analysts’ consensus estimates of $1.41 by $0.41. The business had revenue of $2.60 billion for 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.

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.