Davis R M Inc. Acquires 15 Shares of ServiceNow, Inc. (NYSE:NOW)

Davis R M Inc. raised its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 3.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 513 shares of the information technology services provider’s stock after purchasing an additional 15 shares during the quarter. Davis R M Inc.’s holdings in ServiceNow were worth $391,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Sandbox Financial Partners LLC increased its stake in ServiceNow by 8.6% during the 4th quarter. Sandbox Financial Partners LLC now owns 835 shares of the information technology services provider’s stock valued at $590,000 after purchasing an additional 66 shares in the last quarter. Federated Hermes Inc. grew its stake in shares of ServiceNow by 19.8% in the 4th quarter. Federated Hermes Inc. now owns 300,122 shares of the information technology services provider’s stock worth $212,033,000 after acquiring an additional 49,631 shares in the last quarter. Raymond James & Associates grew its stake in shares of ServiceNow by 5.9% in the 4th quarter. Raymond James & Associates now owns 331,406 shares of the information technology services provider’s stock worth $234,135,000 after acquiring an additional 18,442 shares in the last quarter. Smithfield Trust Co grew its stake in shares of ServiceNow by 36.4% in the 4th quarter. Smithfield Trust Co now owns 981 shares of the information technology services provider’s stock worth $691,000 after acquiring an additional 262 shares in the last quarter. Finally, M&G Plc bought a new stake in shares of ServiceNow in the 1st quarter worth $11,030,000. Institutional investors own 87.18% of the company’s stock.

ServiceNow Trading Up 1.2 %

Shares of ServiceNow stock traded up $9.07 on Tuesday, hitting $765.57. The stock had a trading volume of 518,294 shares, compared to its average volume of 1,278,438. The stock’s 50-day simple moving average is $741.08 and its two-hundred day simple moving average is $748.97. ServiceNow, Inc. has a one year low of $527.24 and a one year high of $815.32. The stock has a market cap of $156.94 billion, a price-to-earnings ratio of 80.91, a PEG ratio of 4.71 and a beta of 0.99. 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 (NYSE:NOW) last announced its quarterly 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 company had revenue of $2.60 billion during the quarter, compared to analyst estimates of $2.59 billion. As a group, sell-side analysts predict that ServiceNow, Inc. will post 6.5 EPS for the current year.

Analyst Ratings Changes

NOW has been the topic of a number of recent analyst reports. StockNews.com downgraded shares of ServiceNow from a “buy” rating to a “hold” rating in a research note on Friday, April 26th. William Blair reaffirmed an “outperform” rating on shares of ServiceNow in a research note on Tuesday, May 7th. UBS Group lowered their target price on shares of ServiceNow from $920.00 to $875.00 and set a “buy” rating on the stock in a research note on Thursday, April 25th. Wells Fargo & Company raised their target price on shares of ServiceNow from $875.00 to $900.00 and gave the company an “overweight” rating in a research note on Tuesday, April 16th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and issued a $820.00 target price on shares of ServiceNow in a research note on Tuesday, July 2nd. One research analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-four have given a buy rating to the company. Based on data from MarketBeat, ServiceNow currently has a consensus rating of “Moderate Buy” and an average target price of $818.20.

Insider Buying and Selling

In related 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 value of $150,500.00. Following the completion of the sale, the insider now owns 15,892 shares of the company’s stock, valued at $11,124,400. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other ServiceNow news, insider Paul John Smith sold 602 shares of the firm’s stock in a transaction on Monday, May 20th. The stock was sold at an average price of $769.75, for a total transaction of $463,389.50. Following the completion of the transaction, the insider now owns 3,619 shares of the company’s stock, valued at $2,785,725.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Christopher Bedi sold 215 shares of the firm’s stock in a transaction on Wednesday, June 5th. The shares were sold at an average price of $700.00, for a total value of $150,500.00. Following the transaction, 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 over the last quarter. 0.25% of the stock is owned by company insiders.

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.