Redhawk Wealth Advisors Inc. bought a new stake in shares of ServiceNow Inc (NYSE:NOW) in the 1st quarter, HoldingsChannel reports. The firm bought 1,698 shares of the information technology services provider’s stock, valued at approximately $419,000.

Several other institutional investors have also added to or reduced their stakes in the company. Cerity Partners LLC boosted its stake in shares of ServiceNow by 3.6% during the 4th quarter. Cerity Partners LLC now owns 1,280 shares of the information technology services provider’s stock valued at $228,000 after buying an additional 45 shares during the last quarter. Cigna Investments Inc. New boosted its stake in shares of ServiceNow by 2.0% during the 1st quarter. Cigna Investments Inc. New now owns 2,652 shares of the information technology services provider’s stock valued at $654,000 after buying an additional 53 shares during the last quarter. Sandy Spring Bank boosted its stake in shares of ServiceNow by 118.0% during the 1st quarter. Sandy Spring Bank now owns 109 shares of the information technology services provider’s stock valued at $27,000 after buying an additional 59 shares during the last quarter. Castle Rock Wealth Management LLC boosted its stake in shares of ServiceNow by 3.5% during the 4th quarter. Castle Rock Wealth Management LLC now owns 1,815 shares of the information technology services provider’s stock valued at $414,000 after buying an additional 61 shares during the last quarter. Finally, Circle Wealth Management LLC boosted its stake in shares of ServiceNow by 2.1% during the 4th quarter. Circle Wealth Management LLC now owns 3,062 shares of the information technology services provider’s stock valued at $545,000 after buying an additional 62 shares during the last quarter. Institutional investors own 92.97% of the company’s stock.

Several research firms have recently commented on NOW. Zacks Investment Research upgraded ServiceNow from a “hold” rating to a “buy” rating and set a $299.00 target price for the company in a research note on Tuesday, April 30th. Argus raised their price objective on ServiceNow from $260.00 to $304.00 and gave the stock a “buy” rating in a research note on Wednesday, May 1st. Deutsche Bank raised their price objective on ServiceNow from $285.00 to $305.00 and gave the stock a “buy” rating in a research note on Tuesday, May 7th. Royal Bank of Canada raised their price objective on ServiceNow to $285.00 and gave the stock a “top pick” rating in a research note on Tuesday, May 7th. Finally, Canaccord Genuity raised their price objective on ServiceNow from $285.00 to $300.00 and gave the stock a “buy” rating in a research note on Wednesday, May 8th. Three investment analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have assigned a strong buy rating to the company’s stock. ServiceNow has an average rating of “Buy” and an average price target of $270.68.

Shares of ServiceNow stock opened at $272.25 on Monday. The stock has a market cap of $50.51 billion, a PE ratio of 1,361.25, a PEG ratio of 20.08 and a beta of 1.40. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.13 and a quick ratio of 1.13. ServiceNow Inc has a 52-week low of $147.63 and a 52-week high of $281.74.

ServiceNow (NYSE:NOW) last announced its quarterly earnings results on Wednesday, April 24th. The information technology services provider reported $0.01 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.09) by $0.10. The business had revenue of $788.93 million during the quarter, compared to analyst estimates of $768.09 million. ServiceNow had a positive return on equity of 1.64% and a negative net margin of 1.38%. The firm’s revenue was up 33.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.56 EPS. Equities analysts expect that ServiceNow Inc will post 0.48 earnings per share for the current fiscal year.

In other news, Director Anita M. Sands sold 1,770 shares of ServiceNow stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $268.60, for a total transaction of $475,422.00. Following the completion of the sale, the director now directly owns 10,784 shares in the company, valued at approximately $2,896,582.40. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Chirantan Jitendra Desai sold 6,962 shares of ServiceNow stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $266.96, for a total value of $1,858,575.52. Following the sale, the insider now owns 29,578 shares of the company’s stock, valued at $7,896,142.88. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 119,018 shares of company stock valued at $31,329,144. 1.00% of the stock is owned by corporate insiders.

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ServiceNow Profile

ServiceNow, Inc provides enterprise cloud computing solutions that define, structure, manage, and automate services for enterprises worldwide. The company offers information technology (IT) service management applications, as well as digital workflow products for customer service, human resources, security operations, integrated risk management, and other enterprise departments.

Further Reading: Diversification

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Institutional Ownership by Quarter for ServiceNow (NYSE:NOW)

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