Sandy Cove Advisors LLC Raises Stock Position in ServiceNow, Inc. (NYSE:NOW)

Sandy Cove Advisors LLC raised its position in ServiceNow, Inc. (NYSE:NOW) by 4.6% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 705 shares of the information technology services provider’s stock after purchasing an additional 31 shares during the period. Sandy Cove Advisors LLC’s holdings in ServiceNow were worth $537,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in NOW. Argonautica Private Wealth Management Inc. increased its stake in ServiceNow by 1.0% in the 4th quarter. Argonautica Private Wealth Management Inc. now owns 1,376 shares of the information technology services provider’s stock worth $972,000 after acquiring an additional 13 shares during the last quarter. Wealth Management Partners LLC increased its position in shares of ServiceNow by 2.7% in the fourth quarter. Wealth Management Partners LLC now owns 531 shares of the information technology services provider’s stock worth $375,000 after purchasing an additional 14 shares during the last quarter. Oliver Lagore Vanvalin Investment Group raised its stake in ServiceNow by 30.4% in the fourth quarter. Oliver Lagore Vanvalin Investment Group now owns 60 shares of the information technology services provider’s stock valued at $42,000 after purchasing an additional 14 shares in the last quarter. Trust Co. of Vermont grew its stake in ServiceNow by 8.6% in the 3rd quarter. Trust Co. of Vermont now owns 190 shares of the information technology services provider’s stock worth $106,000 after buying an additional 15 shares in the last quarter. Finally, Claro Advisors LLC grew its stake in ServiceNow by 3.6% in the 4th quarter. Claro Advisors LLC now owns 428 shares of the information technology services provider’s stock worth $302,000 after buying an additional 15 shares in the last quarter. 87.18% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other ServiceNow news, insider Paul John Smith sold 190 shares of the company’s stock in a transaction dated 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 filing with the SEC, which is available through the SEC website. In related news, insider Christopher Bedi sold 215 shares of the company’s stock in a transaction dated Wednesday, June 5th. The shares were sold at an average price of $700.00, for a total value of $150,500.00. Following the transaction, the insider now owns 15,892 shares in the company, valued at approximately $11,124,400. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Paul John Smith sold 190 shares of the stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $718.78, for a total transaction of $136,568.20. Following the sale, the insider now directly owns 3,010 shares in the company, valued at $2,163,527.80. The disclosure for this sale can be found here. Insiders sold a total of 5,530 shares of company stock worth $3,997,012 in the last three months. 0.25% of the stock is owned by corporate insiders.

ServiceNow Stock Up 1.6 %

ServiceNow stock traded up $12.54 during trading hours on Friday, hitting $786.67. 1,721,786 shares of the stock traded hands, compared to its average volume of 1,451,259. ServiceNow, Inc. has a one year low of $527.24 and a one year high of $815.32. The company has a market cap of $161.27 billion, a PE ratio of 84.14, a PEG ratio of 4.93 and a beta of 0.96. The firm’s 50-day moving average price is $726.55 and its two-hundred day moving average price is $741.06. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.18.

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

Analyst Ratings Changes

Several brokerages recently issued reports on NOW. Wolfe Research reiterated an “outperform” rating and issued a $830.00 target price on shares of ServiceNow in a research report on Friday, May 10th. William Blair reissued an “outperform” rating on shares of ServiceNow in a report on Tuesday, May 7th. Guggenheim reaffirmed a “neutral” rating on shares of ServiceNow in a research note on Monday, April 15th. Robert W. Baird lifted their price target on shares of ServiceNow from $870.00 to $885.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 7th. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $825.00 price objective on shares of ServiceNow in a research note on Tuesday, May 7th. Three investment analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $814.48.

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.