Annex Advisory Services LLC Makes New $10.22 Million Investment in ServiceNow, Inc. (NYSE:NOW)

Annex Advisory Services LLC acquired a new stake in ServiceNow, Inc. (NYSE:NOWFree Report) in the 1st quarter, Holdings Channel reports. The institutional investor acquired 13,400 shares of the information technology services provider’s stock, valued at approximately $10,216,000.

Other institutional investors have also recently made changes to their positions in the company. Wealth Management Partners LLC increased its holdings in ServiceNow by 9.4% during the 1st quarter. Wealth Management Partners LLC now owns 581 shares of the information technology services provider’s stock valued at $443,000 after purchasing an additional 50 shares during the period. Austin Private Wealth LLC raised its holdings in shares of ServiceNow by 14.0% during the first quarter. Austin Private Wealth LLC now owns 611 shares of the information technology services provider’s stock valued at $464,000 after acquiring an additional 75 shares in the last quarter. Doliver Advisors LP increased its position in ServiceNow by 2.0% during the 1st quarter. Doliver Advisors LP now owns 3,289 shares of the information technology services provider’s stock valued at $2,508,000 after purchasing an additional 66 shares during the period. Harbor Investment Advisory LLC lifted its position in shares of ServiceNow by 161.7% in the 1st quarter. Harbor Investment Advisory LLC now owns 1,696 shares of the information technology services provider’s stock worth $1,293,000 after purchasing an additional 1,048 shares during the period. Finally, Global Assets Advisory LLC bought a new position in ServiceNow in the first quarter worth about $403,034,000. Hedge funds and other institutional investors own 87.18% of the company’s stock.

Insider Activity at ServiceNow

In related news, insider Paul John Smith sold 190 shares of the business’s stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $718.78, for a total value of $136,568.20. Following the sale, the insider now owns 3,010 shares in the company, valued at $2,163,527.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Frederic B. Luddy sold 598 shares of ServiceNow stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $741.92, for a total value of $443,668.16. Following the completion of the transaction, the director now owns 428 shares in the company, valued at $317,541.76. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Paul John Smith sold 190 shares of the company’s stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $718.78, for a total value of $136,568.20. Following the sale, the insider now owns 3,010 shares in the company, valued at $2,163,527.80. The disclosure for this sale can be found here. Over the last three months, insiders sold 5,530 shares of company stock valued at $3,997,012. Insiders own 0.25% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently commented on NOW shares. Guggenheim restated a “neutral” rating on shares of ServiceNow in a research report on Monday, April 15th. StockNews.com lowered ServiceNow from a “buy” rating to a “hold” rating in a research report on Friday, April 26th. William Blair reissued an “outperform” rating on shares of ServiceNow in a research report on Tuesday, May 7th. Wolfe Research reaffirmed an “outperform” rating and issued a $830.00 price objective on shares of ServiceNow in a research report on Friday, May 10th. Finally, Robert W. Baird boosted their price target on ServiceNow from $870.00 to $885.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 7th. Three analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the stock. According to MarketBeat, ServiceNow has a consensus rating of “Moderate Buy” and a consensus target price of $814.48.

View Our Latest Stock Report on ServiceNow

ServiceNow Price Performance

NOW stock traded up $11.91 during trading on Tuesday, reaching $751.50. The company’s stock had a trading volume of 335,423 shares, compared to its average volume of 1,279,000. 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, Inc. has a 1 year low of $527.24 and a 1 year high of $815.32. The company’s fifty day moving average is $723.67 and its 200-day moving average is $739.59. The company has a market capitalization of $154.06 billion, a P/E ratio of 79.10, a price-to-earnings-growth ratio of 4.70 and a beta of 0.96.

ServiceNow (NYSE:NOWGet Free Report) last released its quarterly earnings data on Wednesday, April 24th. The information technology services provider reported $1.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.41 by $0.41. ServiceNow had a net margin of 20.34% and a return on equity of 13.59%. The firm had revenue of $2.60 billion for the quarter, compared to analysts’ expectations of $2.59 billion. On average, research analysts expect that ServiceNow, Inc. will post 6.5 earnings per share for the current fiscal year.

About ServiceNow

(Free Report)

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.

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Institutional Ownership by Quarter for ServiceNow (NYSE:NOW)

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