Patriot Financial Group Insurance Agency LLC Raises Position in ServiceNow, Inc. $NOW

Patriot Financial Group Insurance Agency LLC lifted its holdings in ServiceNow, Inc. (NYSE:NOW) by 139.5% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,180 shares of the information technology services provider’s stock after purchasing an additional 11,173 shares during the quarter. Patriot Financial Group Insurance Agency LLC’s holdings in ServiceNow were worth $2,005,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the business. Noble Wealth Management PBC boosted its holdings in ServiceNow by 400.0% in the fourth quarter. Noble Wealth Management PBC now owns 160 shares of the information technology services provider’s stock worth $25,000 after acquiring an additional 128 shares in the last quarter. Millstone Evans Group LLC grew its stake in shares of ServiceNow by 400.0% during the fourth quarter. Millstone Evans Group LLC now owns 165 shares of the information technology services provider’s stock worth $25,000 after acquiring an additional 132 shares during the last quarter. CBIZ Investment Advisory Services LLC increased its holdings in shares of ServiceNow by 540.0% during the fourth quarter. CBIZ Investment Advisory Services LLC now owns 160 shares of the information technology services provider’s stock valued at $25,000 after acquiring an additional 135 shares in the last quarter. Blueline Advisors LLC acquired a new position in shares of ServiceNow during the fourth quarter valued at about $25,000. Finally, Measured Wealth Private Client Group LLC raised its position in shares of ServiceNow by 560.0% in the 4th quarter. Measured Wealth Private Client Group LLC now owns 165 shares of the information technology services provider’s stock valued at $25,000 after purchasing an additional 140 shares during the last quarter. 87.18% of the stock is owned by institutional investors and hedge funds.

ServiceNow Price Performance

Shares of NYSE:NOW opened at $99.89 on Tuesday. ServiceNow, Inc. has a twelve month low of $81.24 and a twelve month high of $211.48. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.13. The company has a market cap of $102.99 billion, a PE ratio of 59.53, a price-to-earnings-growth ratio of 1.64 and a beta of 0.94. The company’s 50 day moving average is $100.17 and its 200 day moving average is $114.38.

ServiceNow (NYSE:NOW) last announced its quarterly earnings data on Wednesday, April 22nd. The information technology services provider reported $0.97 EPS for the quarter, meeting the consensus estimate of $0.97. The business had revenue of $3.77 billion during the quarter, compared to analysts’ expectations of $3.75 billion. ServiceNow had a net margin of 12.59% and a return on equity of 18.16%. The business’s quarterly revenue was up 22.1% compared to the same quarter last year. During the same period in the previous year, the business posted $0.81 EPS. On average, sell-side analysts forecast that ServiceNow, Inc. will post 2.34 EPS for the current year.

Wall Street Analyst Weigh In

NOW has been the subject of a number of recent analyst reports. Mizuho lowered their target price on shares of ServiceNow from $150.00 to $140.00 and set an “outperform” rating for the company in a research note on Thursday, April 23rd. HSBC cut their price target on shares of ServiceNow from $226.00 to $171.00 and set a “buy” rating on the stock in a research note on Thursday, April 16th. Wolfe Research set a $125.00 price objective on shares of ServiceNow in a research note on Thursday, April 23rd. TD Cowen reissued a “buy” rating and set a $140.00 price objective on shares of ServiceNow in a report on Thursday, April 23rd. Finally, UBS Group reissued an “outperform” rating on shares of ServiceNow in a research report on Tuesday, May 26th. One analyst has rated the stock with a Strong Buy rating, thirty-five have given a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $142.17.

Insider Buying and Selling at ServiceNow

In other ServiceNow news, insider Paul Fipps sold 1,048 shares of the stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $98.51, for a total transaction of $103,238.48. Following the sale, the insider directly owned 12,072 shares of the company’s stock, valued at approximately $1,189,212.72. This trade represents a 7.99% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Jacqueline P. Canney sold 8,927 shares of ServiceNow stock in a transaction dated Friday, April 24th. The shares were sold at an average price of $89.60, for a total value of $799,859.20. Following the transaction, the insider owned 29,531 shares of the company’s stock, valued at $2,645,977.60. The trade was a 23.21% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 28,071 shares of company stock worth $2,529,956. 0.34% of the stock is currently owned by company insiders.

ServiceNow Company Profile

ServiceNow (NYSE: NOW) is a cloud computing company that builds enterprise software to manage digital workflows and automate business processes. Its offerings are designed to replace manual work and legacy systems with cloud-based, service-oriented applications that support IT operations, customer service, human resources, security response and other enterprise functions.

The company’s flagship product family is the Now Platform, a suite of subscription software and platform services that includes IT Service Management (ITSM), IT Operations Management (ITOM), IT Business Management (ITBM), Customer Service Management (CSM), HR Service Delivery, Security Operations and Asset Management.