Teamwork Financial Advisors LLC Raises Stock Position in ServiceNow, Inc. (NYSE:NOW)

Teamwork Financial Advisors LLC increased its stake in ServiceNow, Inc. (NYSE:NOW) by 1,034.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,521 shares of the information technology services provider’s stock after buying an additional 10,505 shares during the period. Teamwork Financial Advisors LLC’s holdings in ServiceNow were worth $8,784,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. University of Texas Texas AM Investment Managment Co. purchased a new position in shares of ServiceNow in the 4th quarter valued at approximately $29,000. AdvisorNet Financial Inc boosted its holdings in shares of ServiceNow by 266.7% during the 4th quarter. AdvisorNet Financial Inc now owns 44 shares of the information technology services provider’s stock valued at $31,000 after buying an additional 32 shares in the last quarter. Disciplined Equity Management Inc. purchased a new stake in shares of ServiceNow in the 4th quarter worth about $35,000. Sachetta LLC bought a new position in shares of ServiceNow in the 4th quarter worth about $35,000. Finally, Fortitude Family Office LLC purchased a new position in ServiceNow during the 4th quarter valued at about $41,000. 87.18% of the stock is currently owned by hedge funds and other institutional investors.

ServiceNow Stock Performance

Shares of NYSE NOW traded down $8.19 during midday trading on Thursday, hitting $785.92. 577,464 shares of the company’s stock traded hands, compared to its average volume of 1,202,180. The firm has a fifty day moving average of $729.74 and a 200 day moving average of $742.98. ServiceNow, Inc. has a 1 year low of $527.24 and a 1 year high of $815.32. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.05 and a current ratio of 1.05. The stock has a market capitalization of $161.11 billion, a price-to-earnings ratio of 84.06, a price-to-earnings-growth ratio of 4.98 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 EPS for the quarter, beating analysts’ consensus estimates of $1.41 by $0.41. ServiceNow had a net margin of 20.34% and a return on equity of 13.59%. The business had revenue of $2.60 billion during the quarter, compared to analysts’ expectations of $2.59 billion. On average, analysts forecast that ServiceNow, Inc. will post 6.5 earnings per share for the current year.

Insider Transactions at ServiceNow

In related news, insider Nicholas Tzitzon sold 2,000 shares of the business’s stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $690.99, for a total transaction of $1,381,980.00. Following the completion of the transaction, the insider now directly owns 3,649 shares in the company, valued at approximately $2,521,422.51. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, insider Nicholas Tzitzon sold 2,000 shares of ServiceNow stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $690.99, for a total transaction of $1,381,980.00. Following the transaction, the insider now owns 3,649 shares in the company, valued at approximately $2,521,422.51. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Paul John Smith sold 190 shares of the stock in a transaction on Wednesday, May 8th. The stock was 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 approximately $2,163,527.80. The disclosure for this sale can be found here. Insiders sold 5,530 shares of company stock worth $3,997,012 in the last three months. Corporate insiders own 0.25% of the company’s stock.

Wall Street Analyst Weigh In

NOW has been the topic of a number of recent research reports. Needham & Company LLC restated a “buy” rating and issued a $900.00 price objective on shares of ServiceNow in a report on Tuesday, June 18th. Morgan Stanley lifted their price objective on ServiceNow from $814.00 to $830.00 and gave the company an “overweight” rating in a research note on Thursday, April 25th. StockNews.com cut ServiceNow from a “buy” rating to a “hold” rating in a research note on Friday, April 26th. BMO Capital Markets lowered their price target on ServiceNow from $850.00 to $830.00 and set an “outperform” rating for the company in a research report on Thursday, April 25th. Finally, KeyCorp cut their price objective on shares of ServiceNow from $950.00 to $920.00 and set an “overweight” rating on the stock in a research report on Tuesday. Three investment analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company. According to data from MarketBeat, ServiceNow has an average rating of “Moderate Buy” and a consensus price target of $813.28.

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.