Magnus Financial Group LLC Purchases 14 Shares of ServiceNow, Inc. (NYSE:NOW)

Magnus Financial Group LLC raised its position in shares of ServiceNow, Inc. (NYSE:NOW) by 2.7% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 527 shares of the information technology services provider’s stock after acquiring an additional 14 shares during the quarter. Magnus Financial Group LLC’s holdings in ServiceNow were worth $420,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Quarry LP bought a new stake in ServiceNow during the 4th quarter valued at approximately $27,000. Atala Financial Inc bought a new stake in ServiceNow during the 4th quarter valued at approximately $28,000. LFA Lugano Financial Advisors SA bought a new stake in ServiceNow during the 4th quarter valued at approximately $32,000. Noble Wealth Management PBC bought a new stake in ServiceNow during the 4th quarter valued at approximately $34,000. Finally, FPC Investment Advisory Inc. boosted its position in ServiceNow by 725.0% during the 4th quarter. FPC Investment Advisory Inc. now owns 33 shares of the information technology services provider’s stock valued at $34,000 after acquiring an additional 29 shares in the last quarter. 87.18% of the stock is owned by institutional investors.

Analysts Set New Price Targets

NOW has been the topic of a number of analyst reports. Scotiabank set a $1,100.00 price target on ServiceNow and gave the stock an “outperform” rating in a research report on Wednesday, May 7th. Needham & Company LLC reissued a “buy” rating and issued a $1,050.00 price target on shares of ServiceNow in a research report on Tuesday, May 6th. Sanford C. Bernstein reissued an “outperform” rating and issued a $1,003.00 price target on shares of ServiceNow in a research report on Thursday, April 24th. BMO Capital Markets boosted their price target on ServiceNow from $1,025.00 to $1,150.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 14th. Finally, Guggenheim boosted their price target on ServiceNow from $716.00 to $724.00 and gave the stock a “sell” rating in a research report on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, thirty have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $1,062.50.

ServiceNow Price Performance

NYSE NOW opened at $1,030.70 on Friday. The business’s fifty day moving average price is $919.44 and its 200-day moving average price is $974.97. The stock has a market capitalization of $213.34 billion, a price-to-earnings ratio of 150.91, a PEG ratio of 4.51 and a beta of 0.95. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.10 and a quick ratio of 1.10. ServiceNow, Inc. has a 1-year low of $678.66 and a 1-year high of $1,198.09.

ServiceNow (NYSE:NOW) last released its quarterly earnings results on Wednesday, April 23rd. The information technology services provider reported $4.04 earnings per share for the quarter, beating the consensus estimate of $3.78 by $0.26. The firm had revenue of $3.09 billion for the quarter, compared to analysts’ expectations of $3.09 billion. ServiceNow had a return on equity of 17.11% and a net margin of 12.97%. The company’s revenue was up 18.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.41 EPS. On average, equities analysts predict that ServiceNow, Inc. will post 8.93 earnings per share for the current year.

Insider Activity

In related news, General Counsel Russell S. Elmer sold 62 shares of ServiceNow stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $1,023.00, for a total transaction of $63,426.00. Following the transaction, the general counsel now directly owns 4,332 shares in the company, valued at approximately $4,431,636. The trade was a 1.41% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Anita M. Sands sold 248 shares of ServiceNow stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $1,009.14, for a total value of $250,266.72. Following the transaction, the director now owns 10,643 shares in the company, valued at $10,740,277.02. This trade represents a 2.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 6,716 shares of company stock valued at $6,611,245 in the last ninety days. 0.38% of the stock is currently owned by company insiders.

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.