Petredis Investment Advisors LLC Boosts Stake in ServiceNow, Inc. (NYSE:NOW)

Petredis Investment Advisors LLC raised its holdings in ServiceNow, Inc. (NYSE:NOW) by 0.9% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 6,404 shares of the information technology services provider’s stock after acquiring an additional 57 shares during the quarter. Petredis Investment Advisors LLC’s holdings in ServiceNow were worth $5,098,000 as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in NOW. Vanguard Group Inc. increased its holdings in ServiceNow by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 19,199,258 shares of the information technology services provider’s stock valued at $20,353,517,000 after buying an additional 190,430 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in ServiceNow by 6.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 7,955,924 shares of the information technology services provider’s stock valued at $8,434,235,000 after purchasing an additional 509,467 shares in the last quarter. FMR LLC raised its holdings in ServiceNow by 4.9% during the fourth quarter. FMR LLC now owns 5,878,900 shares of the information technology services provider’s stock worth $6,232,339,000 after purchasing an additional 272,506 shares during the last quarter. Geode Capital Management LLC boosted its position in ServiceNow by 2.4% during the fourth quarter. Geode Capital Management LLC now owns 4,312,571 shares of the information technology services provider’s stock worth $4,560,890,000 after purchasing an additional 100,670 shares in the last quarter. Finally, GAMMA Investing LLC grew its holdings in ServiceNow by 87,501.3% in the first quarter. GAMMA Investing LLC now owns 2,689,361 shares of the information technology services provider’s stock valued at $2,141,108,000 after purchasing an additional 2,686,291 shares during the last quarter. 87.18% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at ServiceNow

In related news, CFO Gina Mastantuono sold 84 shares of the stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $1,023.00, for a total value of $85,932.00. Following the completion of the transaction, the chief financial officer now directly owns 11,218 shares of the company’s stock, valued at $11,476,014. This represents a 0.74% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Jacqueline P. Canney sold 354 shares of the firm’s stock in a transaction that occurred on Wednesday, April 16th. The shares were sold at an average price of $804.61, for a total value of $284,831.94. Following the completion of the sale, the insider now owns 3,027 shares in the company, valued at approximately $2,435,554.47. This represents a 10.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 6,716 shares of company stock worth $6,611,245 over the last ninety days. Company insiders own 0.38% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on NOW shares. Scotiabank set a $1,100.00 price objective on shares of ServiceNow and gave the company an “outperform” rating in a research note on Wednesday, May 7th. Robert W. Baird lifted their price objective on ServiceNow from $1,010.00 to $1,150.00 and gave the stock an “outperform” rating in a research report on Thursday, April 24th. Guggenheim increased their target price on ServiceNow from $716.00 to $724.00 and gave the company a “sell” rating in a report on Thursday, April 24th. Redburn Atlantic started coverage on ServiceNow in a report on Wednesday, February 19th. They issued a “buy” rating for the company. Finally, Raymond James reduced their price objective on ServiceNow from $1,200.00 to $1,000.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 8th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-nine have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, ServiceNow has a consensus rating of “Moderate Buy” and an average price target of $1,062.50.

ServiceNow Stock Down 0.3%

NYSE:NOW opened at $1,027.05 on Tuesday. The stock has a 50-day simple moving average of $923.49 and a 200 day simple moving average of $973.88. ServiceNow, Inc. has a one year low of $678.66 and a one year high of $1,198.09. The company has a market capitalization of $212.58 billion, a price-to-earnings ratio of 150.37, a price-to-earnings-growth ratio of 4.51 and a beta of 0.95. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.10 and a current ratio of 1.10.

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

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.