Signet Financial Management LLC Acquires 79 Shares of ServiceNow, Inc. (NYSE:NOW)

Signet Financial Management LLC increased its position in ServiceNow, Inc. (NYSE:NOW) by 2.6% in the 1st quarter, HoldingsChannel.com reports. The fund owned 3,075 shares of the information technology services provider’s stock after acquiring an additional 79 shares during the quarter. Signet Financial Management LLC’s holdings in ServiceNow were worth $2,448,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also made changes to their positions in NOW. Vanguard Group Inc. grew its holdings in ServiceNow by 1.0% during 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 purchasing an additional 190,430 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in shares of ServiceNow by 6.8% during 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 during the last quarter. FMR LLC boosted its stake 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 valued at $6,232,339,000 after buying an additional 272,506 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of ServiceNow by 2.4% during the 4th quarter. Geode Capital Management LLC now owns 4,312,571 shares of the information technology services provider’s stock valued at $4,560,890,000 after acquiring an additional 100,670 shares during the last quarter. Finally, GAMMA Investing LLC lifted its holdings in shares of ServiceNow by 87,501.3% in the 1st 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 acquiring an additional 2,686,291 shares during the last quarter. 87.18% of the stock is currently owned by institutional investors.

ServiceNow Trading Down 0.3%

Shares of NOW opened at $1,027.05 on Tuesday. The stock has a market cap of $212.58 billion, a PE ratio of 150.37, a price-to-earnings-growth ratio of 4.51 and a beta of 0.95. ServiceNow, Inc. has a 52-week low of $678.66 and a 52-week high of $1,198.09. The firm’s fifty day moving average is $923.49 and its two-hundred day moving average is $973.88. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.15.

ServiceNow (NYSE:NOW) last announced 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 net margin of 12.97% and a return on equity of 17.11%. The company’s revenue was up 18.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.41 EPS. Research analysts forecast that ServiceNow, Inc. will post 8.93 earnings per share for the current fiscal year.

Insider Activity

In other ServiceNow news, insider Jacqueline P. Canney sold 354 shares of the stock in a transaction that occurred on Wednesday, April 16th. The shares were sold at an average price of $804.61, for a total transaction of $284,831.94. Following the sale, the insider now directly owns 3,027 shares in the company, valued at $2,435,554.47. This represents a 10.47% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Jonathan Chadwick sold 770 shares of the stock in a transaction dated Monday, April 28th. The shares were sold at an average price of $931.62, for a total value of $717,347.40. Following the completion of the sale, the director now directly owns 3,205 shares in the company, valued at $2,985,842.10. This represents a 19.37% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 6,716 shares of company stock valued at $6,611,245 in the last quarter. Insiders own 0.38% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently issued reports on NOW. Barclays set a $1,085.00 target price on shares of ServiceNow in a report on Wednesday, May 7th. JPMorgan Chase & Co. reduced their price target on shares of ServiceNow from $1,200.00 to $970.00 and set an “overweight” rating for the company in a report on Tuesday, April 22nd. Wall Street Zen lowered ServiceNow from a “buy” rating to a “hold” rating in a research report on Monday. Oppenheimer reaffirmed an “outperform” rating and set a $1,100.00 price target (up from $970.00) on shares of ServiceNow in a research report on Tuesday, May 6th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $1,048.00 price target on shares of ServiceNow in a research note on Thursday, April 24th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $1,062.50.

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.