Farther Finance Advisors LLC Increases Stock Holdings in ServiceNow, Inc. (NYSE:NOW)

Farther Finance Advisors LLC increased its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 112.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,171 shares of the information technology services provider’s stock after buying an additional 3,798 shares during the period. Farther Finance Advisors LLC’s holdings in ServiceNow were worth $5,820,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Daymark Wealth Partners LLC lifted its position in shares of ServiceNow by 42.9% during the 1st quarter. Daymark Wealth Partners LLC now owns 726 shares of the information technology services provider’s stock valued at $578,000 after buying an additional 218 shares in the last quarter. Moss Adams Wealth Advisors LLC lifted its position in shares of ServiceNow by 9.1% during the 1st quarter. Moss Adams Wealth Advisors LLC now owns 517 shares of the information technology services provider’s stock valued at $411,000 after buying an additional 43 shares in the last quarter. NewSquare Capital LLC lifted its position in shares of ServiceNow by 2.8% during the 1st quarter. NewSquare Capital LLC now owns 6,362 shares of the information technology services provider’s stock valued at $5,065,000 after buying an additional 175 shares in the last quarter. Capital Investment Advisors LLC lifted its position in shares of ServiceNow by 42.4% during the 1st quarter. Capital Investment Advisors LLC now owns 4,733 shares of the information technology services provider’s stock valued at $3,768,000 after buying an additional 1,409 shares in the last quarter. Finally, Central Bank & Trust Co. lifted its position in shares of ServiceNow by 123.8% during the 1st quarter. Central Bank & Trust Co. now owns 2,229 shares of the information technology services provider’s stock valued at $1,775,000 after buying an additional 1,233 shares in the last quarter. Hedge funds and other institutional investors own 87.18% of the company’s stock.

ServiceNow Stock Performance

NYSE NOW opened at $1,027.05 on Tuesday. The company has a market cap of $212.58 billion, a P/E ratio of 150.37, a P/E/G ratio of 4.51 and a beta of 0.95. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.10 and a quick ratio of 1.10. The stock has a 50-day moving average of $923.49 and a two-hundred day moving average of $973.88. ServiceNow, Inc. has a 1-year low of $678.66 and a 1-year high of $1,198.09.

ServiceNow (NYSE:NOW) last released its earnings results on Wednesday, April 23rd. The information technology services provider reported $4.04 earnings per share for the quarter, beating the consensus estimate of $3.78 by $0.26. The company had revenue of $3.09 billion during the quarter, compared to the consensus estimate of $3.09 billion. ServiceNow had a return on equity of 17.11% and a net margin of 12.97%. ServiceNow’s revenue was up 18.6% compared to the same quarter last year. During the same period in the previous year, the company posted $3.41 EPS. As a group, analysts anticipate that ServiceNow, Inc. will post 8.93 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on NOW shares. BMO Capital Markets increased their target price on ServiceNow from $1,025.00 to $1,150.00 and gave the company an “outperform” rating in a research report on Wednesday, May 14th. Needham & Company LLC restated a “buy” rating and issued a $1,050.00 price objective on shares of ServiceNow in a report on Tuesday, May 6th. Raymond James decreased their price objective on ServiceNow from $1,200.00 to $1,000.00 and set an “outperform” rating on the stock in a report on Tuesday, April 8th. Wells Fargo & Company raised their price objective on ServiceNow from $1,100.00 to $1,150.00 and gave the company an “overweight” rating in a report on Thursday, April 24th. Finally, The Goldman Sachs Group restated a “buy” rating on shares of ServiceNow in a report on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-nine have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $1,062.50.

Insider Buying and Selling at ServiceNow

In other news, CEO William R. Mcdermott sold 2,050 shares of ServiceNow stock in a transaction dated Friday, May 30th. The stock was sold at an average price of $1,012.01, for a total value of $2,074,620.50. Following the completion of the transaction, the chief executive officer now owns 6,614 shares in the company, valued at approximately $6,693,434.14. This trade represents a 23.66% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Jacqueline P. Canney sold 66 shares of ServiceNow stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $1,023.00, for a total value of $67,518.00. Following the completion of the transaction, the insider now owns 3,027 shares of the company’s stock, valued at $3,096,621. The trade was a 2.13% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 6,716 shares of company stock valued at $6,611,245 in the last three months. 0.38% of the stock is owned by corporate insiders.

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.