Barlow Wealth Partners Inc. Acquires New Shares in ServiceNow, Inc. (NYSE:NOW)

Barlow Wealth Partners Inc. bought a new position in shares of ServiceNow, Inc. (NYSE:NOW) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 5,466 shares of the information technology services provider’s stock, valued at approximately $4,352,000.

Other institutional investors have also recently made changes to their positions in the company. GAMMA Investing LLC lifted its holdings in ServiceNow by 87,501.3% during the 1st quarter. GAMMA Investing LLC now owns 2,689,361 shares of the information technology services provider’s stock worth $2,141,108,000 after purchasing an additional 2,686,291 shares in the last quarter. Norges Bank purchased a new position in ServiceNow during the 4th quarter valued at about $2,603,360,000. Proficio Capital Partners LLC increased its position in shares of ServiceNow by 154,255.3% during the fourth quarter. Proficio Capital Partners LLC now owns 666,815 shares of the information technology services provider’s stock valued at $667,000 after buying an additional 666,383 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in shares of ServiceNow by 6.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 7,955,924 shares of the information technology services provider’s stock worth $8,434,235,000 after buying an additional 509,467 shares in the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its holdings in shares of ServiceNow by 36.7% in the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 1,830,419 shares of the information technology services provider’s stock worth $1,940,464,000 after buying an additional 491,861 shares in the last quarter. Hedge funds and other institutional investors own 87.18% of the company’s stock.

Insider Activity at ServiceNow

In other ServiceNow news, CEO William R. Mcdermott sold 2,050 shares of the firm’s stock in a transaction on Friday, May 30th. The stock was sold at an average price of $1,012.01, for a total transaction of $2,074,620.50. Following the completion of the transaction, the chief executive officer owned 6,614 shares of the company’s stock, valued at approximately $6,693,434.14. This trade represents a 23.66% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Anita M. Sands sold 248 shares of the company’s stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $1,009.14, for a total transaction of $250,266.72. Following the completion of the sale, the director directly owned 10,643 shares in the company, valued at $10,740,277.02. This represents a 2.28% decrease in their ownership of the stock. 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 over the last ninety days. Insiders own 0.38% of the company’s stock.

Analyst Upgrades and Downgrades

NOW has been the topic of a number of analyst reports. Scotiabank set a $1,100.00 target price on shares of ServiceNow and gave the stock an “outperform” rating in a report on Wednesday, May 7th. Evercore ISI upped their price target on shares of ServiceNow from $925.00 to $1,000.00 and gave the stock an “outperform” rating in a report on Thursday, April 24th. UBS Group reiterated a “buy” rating and issued a $1,025.00 price objective (up previously from $900.00) on shares of ServiceNow in a research report on Thursday, April 24th. The Goldman Sachs Group restated a “buy” rating on shares of ServiceNow in a research report on Thursday, April 24th. Finally, Erste Group Bank upgraded ServiceNow from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, April 30th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, thirty-one have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $1,068.23.

ServiceNow Trading Down 0.3%

NYSE:NOW opened at $1,008.78 on Thursday. The firm has a market capitalization of $208.80 billion, a P/E ratio of 137.06, a P/E/G ratio of 4.65 and a beta of 0.94. ServiceNow, Inc. has a 52 week low of $678.66 and a 52 week high of $1,198.09. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.15. The company has a fifty day moving average of $999.82 and a 200 day moving average of $964.70.

ServiceNow (NYSE:NOW) last posted its earnings results on Wednesday, April 23rd. The information technology services provider reported $4.04 earnings per share for the quarter, topping analysts’ consensus estimates of $3.78 by $0.26. ServiceNow had a net margin of 13.41% and a return on equity of 17.34%. The company had revenue of $3.09 billion during the quarter, compared to analyst estimates of $3.09 billion. During the same period in the prior year, the business posted $3.41 earnings per share. ServiceNow’s revenue for the quarter was up 18.6% on a year-over-year basis. On average, research analysts predict that ServiceNow, Inc. will post 8.93 earnings per share for the current year.

ServiceNow Profile

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.