HCR Wealth Advisors Increases Stock Holdings in ServiceNow, Inc. (NYSE:NOW)

HCR Wealth Advisors boosted its holdings in ServiceNow, Inc. (NYSE:NOW) by 3.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,264 shares of the information technology services provider’s stock after purchasing an additional 100 shares during the quarter. HCR Wealth Advisors’ holdings in ServiceNow were worth $2,599,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the business. Quarry LP purchased a new position in shares of ServiceNow in the 4th quarter worth $27,000. Atala Financial Inc acquired a new stake in ServiceNow during the fourth quarter worth about $28,000. LFA Lugano Financial Advisors SA purchased a new position in shares of ServiceNow in the 4th quarter worth about $32,000. Noble Wealth Management PBC acquired a new position in shares of ServiceNow in the 4th quarter valued at about $34,000. Finally, FPC Investment Advisory Inc. grew its holdings in shares of ServiceNow by 725.0% during the 4th quarter. FPC Investment Advisory Inc. now owns 33 shares of the information technology services provider’s stock worth $34,000 after purchasing an additional 29 shares during the period. 87.18% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at ServiceNow

In other ServiceNow news, General Counsel Russell S. Elmer sold 62 shares of ServiceNow 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 $63,426.00. Following the completion of the transaction, the general counsel now directly owns 4,332 shares in the company, valued at $4,431,636. The trade was a 1.41% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO William R. Mcdermott sold 2,050 shares of the company’s stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $1,012.01, for a total value of $2,074,620.50. Following the transaction, the chief executive officer now directly owns 6,614 shares of the company’s stock, valued at $6,693,434.14. This trade represents a 23.66% 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 valued at $6,611,245 in the last quarter. Insiders own 0.38% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on NOW. Robert W. Baird raised their price target on shares of ServiceNow from $1,010.00 to $1,150.00 and gave the company an “outperform” rating in a report on Thursday, April 24th. UBS Group reissued a “buy” rating and issued a $1,025.00 price objective (up previously from $900.00) on shares of ServiceNow in a research report on Thursday, April 24th. Evercore ISI raised their target price on shares of ServiceNow from $925.00 to $1,000.00 and gave the company an “outperform” rating in a research note on Thursday, April 24th. Needham & Company LLC reaffirmed a “buy” rating and set a $1,050.00 price target on shares of ServiceNow in a research report on Tuesday, May 6th. Finally, Canaccord Genuity Group lowered their price target on ServiceNow from $1,275.00 to $900.00 and set a “buy” rating for the company in a report on Tuesday, April 22nd. One analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-nine have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,062.50.

ServiceNow Price Performance

Shares of NOW opened at $980.29 on Thursday. ServiceNow, Inc. has a 52 week low of $678.66 and a 52 week high of $1,198.09. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.15. The firm has a market cap of $202.90 billion, a price-to-earnings ratio of 133.19, a PEG ratio of 4.63 and a beta of 0.95. The stock has a 50 day moving average of $956.82 and a 200-day moving average of $972.45.

ServiceNow (NYSE:NOW) last released its quarterly earnings data on Wednesday, April 23rd. The information technology services provider reported $4.04 EPS for the quarter, topping analysts’ consensus estimates of $3.78 by $0.26. The firm had revenue of $3.09 billion during the quarter, compared to the consensus estimate of $3.09 billion. ServiceNow had a net margin of 13.41% and a return on equity of 17.34%. The firm’s revenue was up 18.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.41 earnings per share. As a group, analysts forecast that ServiceNow, Inc. will post 8.93 EPS for the current 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.