First Trust Direct Indexing L.P. Buys 415 Shares of ServiceNow, Inc. (NYSE:NOW)

First Trust Direct Indexing L.P. boosted its position in ServiceNow, Inc. (NYSE:NOW) by 9.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,964 shares of the information technology services provider’s stock after acquiring an additional 415 shares during the quarter. First Trust Direct Indexing L.P.’s holdings in ServiceNow were worth $3,785,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Kovack Advisors Inc. raised its holdings in ServiceNow by 18.8% in the first quarter. Kovack Advisors Inc. now owns 7,754 shares of the information technology services provider’s stock worth $5,912,000 after buying an additional 1,226 shares during the last quarter. Norden Group LLC increased its holdings in shares of ServiceNow by 1,878.0% in the 1st quarter. Norden Group LLC now owns 113,421 shares of the information technology services provider’s stock worth $86,464,000 after purchasing an additional 107,687 shares in the last quarter. Lake Street Private Wealth LLC lifted its holdings in shares of ServiceNow by 70.4% during the first quarter. Lake Street Private Wealth LLC now owns 2,359 shares of the information technology services provider’s stock valued at $1,799,000 after purchasing an additional 975 shares in the last quarter. Valley National Advisers Inc. boosted its position in shares of ServiceNow by 28.2% during the first quarter. Valley National Advisers Inc. now owns 978 shares of the information technology services provider’s stock valued at $745,000 after buying an additional 215 shares during the last quarter. Finally, E&G Advisors LP bought a new position in ServiceNow during the 1st quarter valued at about $217,000. Institutional investors own 87.18% of the company’s stock.

ServiceNow Stock Down 1.0 %

NOW stock traded down $8.19 during trading on Thursday, hitting $785.92. 577,464 shares of the company’s stock were exchanged, compared to its average volume of 1,202,180. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.18. The business has a 50-day moving average price of $729.74 and a two-hundred day moving average price of $742.98. The stock has a market capitalization of $161.11 billion, a price-to-earnings ratio of 84.06, a PEG ratio of 4.98 and a beta of 0.99. ServiceNow, Inc. has a 52-week low of $527.24 and a 52-week high of $815.32.

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

Insiders Place Their Bets

In related news, insider Paul John Smith sold 190 shares of the firm’s stock in a transaction that occurred on 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 directly owns 3,010 shares of the company’s stock, valued at $2,163,527.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, 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 value of $136,568.20. Following the completion of the transaction, the insider now owns 3,010 shares of the company’s stock, valued at $2,163,527.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Nicholas Tzitzon sold 2,000 shares of the firm’s stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $690.99, for a total transaction of $1,381,980.00. Following the transaction, the insider now directly owns 3,649 shares of the company’s stock, valued at $2,521,422.51. The disclosure for this sale can be found here. Insiders have sold a total of 5,530 shares of company stock valued at $3,997,012 in the last quarter. 0.25% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research analysts have recently weighed in on NOW shares. UBS Group dropped their price target on shares of ServiceNow from $920.00 to $875.00 and set a “buy” rating on the stock in a research note on Thursday, April 25th. StockNews.com cut ServiceNow from a “buy” rating to a “hold” rating in a research report on Friday, April 26th. Guggenheim restated a “neutral” rating on shares of ServiceNow in a research note on Monday, April 15th. Wolfe Research restated an “outperform” rating and issued a $830.00 price objective on shares of ServiceNow in a research report on Friday, May 10th. Finally, Wells Fargo & Company upped their target price on shares of ServiceNow from $875.00 to $900.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 16th. Three research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $813.28.

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.