Capital Investment Advisors LLC Buys 1,409 Shares of ServiceNow, Inc. (NYSE:NOW)

Capital Investment Advisors LLC grew its stake in ServiceNow, Inc. (NYSE:NOW) by 42.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,733 shares of the information technology services provider’s stock after acquiring an additional 1,409 shares during the period. Capital Investment Advisors LLC’s holdings in ServiceNow were worth $3,768,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of NOW. Quarry LP acquired a new stake in shares of ServiceNow during the 4th quarter worth approximately $27,000. Atala Financial Inc acquired a new stake in shares of ServiceNow during the 4th quarter worth approximately $28,000. LFA Lugano Financial Advisors SA acquired a new stake in shares of ServiceNow during the 4th quarter worth approximately $32,000. FPC Investment Advisory Inc. grew its position in shares of ServiceNow by 725.0% during the 4th quarter. FPC Investment Advisory Inc. now owns 33 shares of the information technology services provider’s stock worth $34,000 after buying an additional 29 shares during the period. Finally, Noble Wealth Management PBC acquired a new stake in shares of ServiceNow during the 4th quarter worth approximately $34,000. 87.18% of the stock is owned by institutional investors.

ServiceNow Price Performance

Shares of NOW opened at $1,030.70 on Monday. The firm has a market capitalization of $213.34 billion, a PE ratio of 150.91, a PEG ratio of 4.51 and a beta of 0.95. The company’s 50-day moving average is $919.44 and its 200-day moving average is $974.12. ServiceNow, Inc. has a fifty-two week low of $678.66 and a fifty-two week high of $1,198.09. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.10 and a quick ratio of 1.10.

ServiceNow (NYSE:NOW) last issued its quarterly earnings data 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 for the quarter, compared to analyst estimates of $3.09 billion. ServiceNow had a net margin of 12.97% and a return on equity of 17.11%. The company’s revenue was up 18.6% on a year-over-year basis. During the same period in the prior year, the firm earned $3.41 earnings per share. Equities analysts forecast that ServiceNow, Inc. will post 8.93 EPS for the current year.

Insider Activity

In related news, General Counsel Russell S. Elmer sold 62 shares of the company’s 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 $63,426.00. Following the transaction, the general counsel now directly owns 4,332 shares in the company, valued at approximately $4,431,636. This represents a 1.41% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO William R. Mcdermott sold 2,050 shares of the company’s stock in a transaction dated Friday, May 30th. The shares were 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 now owns 6,614 shares in the company, valued at $6,693,434.14. This trade represents a 23.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 6,716 shares of company stock valued at $6,611,245 over the last ninety days. 0.38% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts have recently commented on NOW shares. JMP Securities reiterated a “market outperform” rating and set a $1,300.00 price target on shares of ServiceNow in a research report on Tuesday, May 6th. JPMorgan Chase & Co. lowered their price target on shares of ServiceNow from $1,200.00 to $970.00 and set an “overweight” rating for the company in a research report on Tuesday, April 22nd. Sanford C. Bernstein restated an “outperform” rating and set a $1,003.00 price objective on shares of ServiceNow in a report on Thursday, April 24th. BMO Capital Markets boosted their price objective on shares of ServiceNow from $1,025.00 to $1,150.00 and gave the company an “outperform” rating in a report on Wednesday, May 14th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $1,048.00 price objective on shares of ServiceNow in a report on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, twenty-nine have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $1,062.50.

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.