Boomfish Wealth Group LLC Boosts Stake in ServiceNow, Inc. (NYSE:NOW)

Boomfish Wealth Group LLC increased its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 1.9% in the first quarter, HoldingsChannel.com reports. The firm owned 3,069 shares of the information technology services provider’s stock after buying an additional 57 shares during the period. ServiceNow accounts for approximately 1.6% of Boomfish Wealth Group LLC’s portfolio, making the stock its 22nd largest holding. Boomfish Wealth Group LLC’s holdings in ServiceNow were worth $2,443,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Rakuten Securities Inc. grew its stake in shares of ServiceNow by 7.6% in the first quarter. Rakuten Securities Inc. now owns 707 shares of the information technology services provider’s stock worth $563,000 after acquiring an additional 50 shares in the last quarter. NBT Bank N A NY grew its stake in shares of ServiceNow by 32.4% in the first quarter. NBT Bank N A NY now owns 1,442 shares of the information technology services provider’s stock worth $1,148,000 after acquiring an additional 353 shares in the last quarter. Strategic Advisors LLC grew its stake in shares of ServiceNow by 25.3% in the first quarter. Strategic Advisors LLC now owns 4,707 shares of the information technology services provider’s stock worth $3,747,000 after acquiring an additional 950 shares in the last quarter. Chicago Capital LLC grew its stake in shares of ServiceNow by 0.7% in the first quarter. Chicago Capital LLC now owns 78,207 shares of the information technology services provider’s stock worth $62,264,000 after acquiring an additional 509 shares in the last quarter. Finally, Vicus Capital grew its stake in shares of ServiceNow by 49.8% in the first quarter. Vicus Capital now owns 737 shares of the information technology services provider’s stock worth $587,000 after acquiring an additional 245 shares in the last quarter. Hedge funds and other institutional investors own 87.18% of the company’s stock.

Insider Buying and Selling

In related news, Director Anita M. Sands sold 248 shares of the stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $1,009.14, for a total transaction of $250,266.72. Following the completion of the transaction, the director now directly owns 10,643 shares of the company’s stock, valued at $10,740,277.02. This represents a 2.28% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Jacqueline P. Canney sold 354 shares of the stock in a transaction dated 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 directly owns 3,027 shares of the company’s stock, valued at $2,435,554.47. This represents a 10.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 6,716 shares of company stock valued at $6,611,245 over the last ninety days. Corporate insiders own 0.38% of the company’s stock.

ServiceNow Price Performance

Shares of NYSE:NOW opened at $1,005.27 on Tuesday. The company has a 50-day simple moving average of $950.17 and a 200-day simple moving average of $972.18. ServiceNow, Inc. has a one year low of $678.66 and a one year high of $1,198.09. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.10 and a current ratio of 1.10. The stock has a market capitalization of $208.07 billion, a price-to-earnings ratio of 147.19, a PEG ratio of 4.51 and a beta of 0.95.

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

Analyst Upgrades and Downgrades

Several research firms have commented on NOW. Cantor Fitzgerald restated an “overweight” rating and issued a $1,048.00 price target on shares of ServiceNow in a research note on Thursday, April 24th. TD Securities reiterated a “buy” rating and set a $1,100.00 target price on shares of ServiceNow in a research note on Thursday, April 24th. Piper Sandler lowered their target price on shares of ServiceNow from $1,200.00 to $1,120.00 and set an “overweight” rating for the company in a research note on Thursday, April 24th. BMO Capital Markets boosted their target price on shares of ServiceNow from $1,025.00 to $1,150.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 14th. Finally, Citigroup boosted their target price on shares of ServiceNow from $1,128.00 to $1,160.00 and gave the stock a “buy” rating in a research note on Wednesday, May 7th. One analyst has rated the stock with a sell rating, three have given a hold rating, twenty-nine have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $1,062.50.

ServiceNow Company 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.