Northeast Investment Management Purchases 3,443 Shares of ServiceNow, Inc. (NYSE:NOW)

Northeast Investment Management raised its position in ServiceNow, Inc. (NYSE:NOW) by 15.0% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 26,428 shares of the information technology services provider’s stock after acquiring an additional 3,443 shares during the period. Northeast Investment Management’s holdings in ServiceNow were worth $21,040,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of NOW. Quarry LP acquired a new stake in ServiceNow in the 4th quarter valued at $27,000. Atala Financial Inc bought a new position in shares of ServiceNow in the 4th quarter valued at about $28,000. LFA Lugano Financial Advisors SA acquired a new stake in shares of ServiceNow in the fourth quarter valued at about $32,000. FPC Investment Advisory Inc. raised its holdings in ServiceNow by 725.0% during the fourth quarter. FPC Investment Advisory Inc. now owns 33 shares of the information technology services provider’s stock worth $34,000 after acquiring an additional 29 shares in the last quarter. Finally, Noble Wealth Management PBC acquired a new position in ServiceNow during the fourth quarter valued at approximately $34,000. Institutional investors and hedge funds own 87.18% of the company’s stock.

ServiceNow Price Performance

NOW stock opened at $1,009.94 on Wednesday. The company’s 50-day moving average price is $928.22 and its two-hundred day moving average price is $974.13. The firm has a market cap of $209.04 billion, a P/E ratio of 147.87, a P/E/G ratio of 4.51 and a beta of 0.95. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.15. ServiceNow, Inc. has a 12 month low of $678.66 and a 12 month high of $1,198.09.

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

Insider Transactions at ServiceNow

In related news, CEO William R. Mcdermott sold 2,050 shares of ServiceNow stock in a transaction on Friday, May 30th. The shares were sold at an average price of $1,012.01, for a total value of $2,074,620.50. Following the completion of the sale, the chief executive officer now owns 6,614 shares of the company’s stock, valued at approximately $6,693,434.14. This trade represents a 23.66% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Jacqueline P. Canney sold 354 shares of the company’s stock in a transaction on Wednesday, April 16th. The stock was sold at an average price of $804.61, for a total transaction of $284,831.94. Following the transaction, the insider now owns 3,027 shares in the company, valued at approximately $2,435,554.47. The trade was a 10.47% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 6,716 shares of company stock worth $6,611,245. Company insiders own 0.38% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on NOW shares. Oppenheimer reaffirmed an “outperform” rating and set a $1,100.00 price target (up previously from $970.00) on shares of ServiceNow in a research report on Tuesday, May 6th. Erste Group Bank raised shares of ServiceNow from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, April 30th. The Goldman Sachs Group reissued a “buy” rating on shares of ServiceNow in a research report on Thursday, April 24th. Jefferies Financial Group dropped their target price on shares of ServiceNow from $1,250.00 to $1,025.00 and set a “buy” rating on the stock in a report on Tuesday, April 15th. Finally, UBS Group reiterated a “buy” rating and set a $1,025.00 price target (up previously from $900.00) on shares of ServiceNow in a report on Thursday, April 24th. One equities research 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 given a strong buy rating to the company. Based on data from MarketBeat.com, ServiceNow currently has an average rating of “Moderate Buy” and a consensus target price of $1,062.50.

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.