First Affirmative Financial Network Acquires 48 Shares of ServiceNow, Inc. (NYSE:NOW)

First Affirmative Financial Network boosted its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 5.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 872 shares of the information technology services provider’s stock after acquiring an additional 48 shares during the period. First Affirmative Financial Network’s holdings in ServiceNow were worth $694,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Avidian Wealth Enterprises LLC lifted its stake in shares of ServiceNow by 1.8% in the 4th quarter. Avidian Wealth Enterprises LLC now owns 497 shares of the information technology services provider’s stock valued at $527,000 after acquiring an additional 9 shares during the last quarter. TBH Global Asset Management LLC raised its position in ServiceNow by 3.8% during the 4th quarter. TBH Global Asset Management LLC now owns 302 shares of the information technology services provider’s stock worth $320,000 after purchasing an additional 11 shares during the last quarter. Onefund LLC raised its position in ServiceNow by 2.0% during the 4th quarter. Onefund LLC now owns 552 shares of the information technology services provider’s stock worth $585,000 after purchasing an additional 11 shares during the last quarter. Cassady Schiller Wealth Management LLC raised its position in ServiceNow by 44.0% during the 4th quarter. Cassady Schiller Wealth Management LLC now owns 36 shares of the information technology services provider’s stock worth $38,000 after purchasing an additional 11 shares during the last quarter. Finally, Valley Brook Capital Group Inc. raised its position in ServiceNow by 2.7% during the 4th quarter. Valley Brook Capital Group Inc. now owns 459 shares of the information technology services provider’s stock worth $487,000 after purchasing an additional 12 shares during the last quarter. 87.18% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CEO William R. Mcdermott sold 2,050 shares of the firm’s stock in a transaction that occurred on Friday, May 30th. The stock was sold at an average price of $1,012.01, for a total value of $2,074,620.50. Following 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jacqueline P. Canney sold 66 shares of the firm’s stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $1,023.00, for a total value of $67,518.00. Following the completion of the transaction, the insider now owns 3,027 shares in the company, valued at $3,096,621. This represents a 2.13% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 6,716 shares of company stock worth $6,611,245 over the last 90 days. 0.38% of the stock is currently owned by corporate insiders.

ServiceNow Stock Up 1.3%

Shares of NYSE:NOW opened at $1,030.70 on Friday. The business’s 50 day simple moving average is $919.44 and its two-hundred day simple moving average is $974.97. The firm has a market cap of $213.34 billion, a P/E ratio of 150.91, a PEG ratio of 4.51 and a beta of 0.95. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.10 and a current ratio of 1.10. ServiceNow, Inc. has a 52-week low of $678.66 and a 52-week high of $1,198.09.

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

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on NOW shares. Morgan Stanley raised their target price on ServiceNow from $881.00 to $950.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 24th. Bank of America lowered their target price on ServiceNow from $1,280.00 to $1,025.00 and set a “buy” rating for the company in a research report on Tuesday, April 15th. Evercore ISI raised their target price on ServiceNow from $925.00 to $1,000.00 and gave the stock an “outperform” rating in a research report on Thursday, April 24th. Wells Fargo & Company raised their target price on ServiceNow from $1,100.00 to $1,150.00 and gave the stock an “overweight” rating in a research report on Thursday, April 24th. Finally, Wall Street Zen raised ServiceNow from a “hold” rating to a “buy” rating in a research report on Sunday, June 1st. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, thirty have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price 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.