SlateStone Wealth LLC Raises Holdings in ServiceNow, Inc. (NYSE:NOW)

SlateStone Wealth LLC boosted its position in ServiceNow, Inc. (NYSE:NOW) by 4.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 387 shares of the information technology services provider’s stock after acquiring an additional 18 shares during the quarter. SlateStone Wealth LLC’s holdings in ServiceNow were worth $295,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Jump Financial LLC purchased a new position in ServiceNow in the third quarter valued at about $525,000. Commerzbank Aktiengesellschaft FI acquired a new position in ServiceNow during the 3rd quarter worth approximately $229,000. Angeles Investment Advisors LLC purchased a new position in ServiceNow in the 3rd quarter worth approximately $953,000. Greenleaf Trust grew its position in ServiceNow by 1.4% in the third quarter. Greenleaf Trust now owns 3,103 shares of the information technology services provider’s stock valued at $1,734,000 after acquiring an additional 42 shares in the last quarter. Finally, Nicollet Investment Management Inc. raised its stake in shares of ServiceNow by 1.1% during the third quarter. Nicollet Investment Management Inc. now owns 7,351 shares of the information technology services provider’s stock valued at $4,109,000 after purchasing an additional 77 shares during the period. Hedge funds and other institutional investors own 87.18% of the company’s stock.

Insider Transactions at ServiceNow

In other ServiceNow news, insider Christopher Bedi sold 215 shares of the firm’s stock in a transaction dated Wednesday, June 5th. The shares were sold at an average price of $700.00, for a total transaction of $150,500.00. Following the transaction, the insider now owns 15,892 shares of the company’s stock, valued at approximately $11,124,400. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other ServiceNow news, Director Frederic B. Luddy sold 598 shares of the company’s stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $741.92, for a total transaction of $443,668.16. Following the completion of the sale, the director now directly owns 428 shares of the company’s stock, valued at $317,541.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Christopher Bedi sold 215 shares of ServiceNow stock in a transaction that occurred on Wednesday, June 5th. The stock was sold at an average price of $700.00, for a total transaction of $150,500.00. Following the completion of the transaction, the insider now directly owns 15,892 shares in the company, valued at $11,124,400. The disclosure for this sale can be found here. Over the last quarter, insiders sold 5,530 shares of company stock valued at $3,997,012. 0.25% of the stock is currently owned by corporate insiders.

ServiceNow Stock Performance

Shares of NOW traded up $3.25 during midday trading on Tuesday, hitting $712.40. 1,060,679 shares of the stock traded hands, compared to its average volume of 1,291,303. The business’s 50 day moving average price is $730.52 and its two-hundred day moving average price is $736.57. The firm has a market capitalization of $146.04 billion, a PE ratio of 76.19, a price-to-earnings-growth ratio of 4.38 and a beta of 0.96. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.05 and a current ratio of 1.05. ServiceNow, Inc. has a 1-year low of $527.24 and a 1-year high of $815.32.

ServiceNow (NYSE:NOW) last posted its earnings results on Wednesday, April 24th. The information technology services provider reported $1.82 EPS for the quarter, topping the consensus estimate of $1.41 by $0.41. The firm had revenue of $2.60 billion during the quarter, compared to analysts’ expectations of $2.59 billion. ServiceNow had a net margin of 20.34% and a return on equity of 13.59%. Equities research analysts predict that ServiceNow, Inc. will post 6.5 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

NOW has been the subject of a number of recent analyst reports. KeyCorp lowered their price target on shares of ServiceNow from $1,000.00 to $950.00 and set an “overweight” rating for the company in a report on Thursday, April 25th. UBS Group dropped their target price on ServiceNow from $920.00 to $875.00 and set a “buy” rating on the stock in a research report on Thursday, April 25th. StockNews.com downgraded ServiceNow from a “buy” rating to a “hold” rating in a report on Friday, April 26th. Stifel Nicolaus restated a “buy” rating and set a $820.00 price objective on shares of ServiceNow in a research note on Wednesday, March 20th. Finally, Citigroup upped their target price on ServiceNow from $896.00 to $906.00 and gave the company a “buy” rating in a research report on Thursday, April 18th. Three investment analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $814.48.

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.