ServiceNow, Inc. (NYSE:NOW) Shares Acquired by Claro Advisors LLC

Claro Advisors LLC lifted its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 81.5% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 777 shares of the information technology services provider’s stock after purchasing an additional 349 shares during the quarter. Claro Advisors LLC’s holdings in ServiceNow were worth $592,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Algert Global LLC acquired a new position in ServiceNow in the third quarter valued at $310,000. AQR Capital Management LLC boosted its holdings in ServiceNow by 47.7% in the third quarter. AQR Capital Management LLC now owns 70,167 shares of the information technology services provider’s stock valued at $39,221,000 after acquiring an additional 22,652 shares during the last quarter. Truist Financial Corp boosted its holdings in ServiceNow by 37.2% in the third quarter. Truist Financial Corp now owns 91,409 shares of the information technology services provider’s stock valued at $51,094,000 after acquiring an additional 24,795 shares during the last quarter. Advisors Asset Management Inc. boosted its holdings in ServiceNow by 97.1% in the third quarter. Advisors Asset Management Inc. now owns 3,315 shares of the information technology services provider’s stock valued at $1,853,000 after acquiring an additional 1,633 shares during the last quarter. Finally, AXQ Capital LP acquired a new position in ServiceNow in the third quarter valued at $224,000. Institutional investors and hedge funds own 87.18% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on NOW shares. Needham & Company LLC reiterated a “buy” rating and issued a $900.00 target price on shares of ServiceNow in a report on Tuesday, June 18th. KeyCorp lowered their target price on ServiceNow from $1,000.00 to $950.00 and set an “overweight” rating for the company in a research note on Thursday, April 25th. BMO Capital Markets reduced their price target on ServiceNow from $850.00 to $830.00 and set an “outperform” rating on the stock in a research report on Thursday, April 25th. 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, Stifel Nicolaus reissued a “buy” rating and set a $820.00 target price on shares of ServiceNow in a research report on Wednesday, March 20th. Three research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the stock. Based on data from MarketBeat, ServiceNow has a consensus rating of “Moderate Buy” and an average price target of $814.48.

ServiceNow Stock Performance

Shares of NYSE:NOW traded up $2.29 on Monday, reaching $788.96. 1,086,176 shares of the company’s stock were exchanged, compared to its average volume of 1,283,481. The firm has a market capitalization of $161.74 billion, a price-to-earnings ratio of 84.15, a PEG ratio of 4.93 and a beta of 0.99. ServiceNow, Inc. has a fifty-two week low of $527.24 and a fifty-two week high of $815.32. The business’s 50-day moving average is $726.55 and its two-hundred day moving average is $741.24. 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 (NYSE:NOW) last issued its earnings results on Wednesday, April 24th. The information technology services provider reported $1.82 earnings per share for the quarter, topping analysts’ consensus estimates 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 net margin of 20.34% and a return on equity of 13.59%. As a group, equities research analysts forecast that ServiceNow, Inc. will post 6.5 EPS for the current year.

Insiders Place Their Bets

In other ServiceNow news, insider Paul John Smith sold 190 shares of the stock in a transaction on 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 of the company’s stock, valued at $2,163,527.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Nicholas Tzitzon sold 2,000 shares of the stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $690.99, for a total value of $1,381,980.00. Following the sale, the insider now owns 3,649 shares of the company’s stock, valued at approximately $2,521,422.51. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Paul John Smith sold 190 shares of the stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $718.78, for a total transaction of $136,568.20. Following the completion of the sale, the insider now directly owns 3,010 shares in the company, valued at approximately $2,163,527.80. The disclosure for this sale can be found here. Over the last three months, insiders have sold 5,530 shares of company stock valued at $3,997,012. Company insiders own 0.25% of the company’s stock.

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.