GuoLine Advisory Pte Ltd Increases Stake in ServiceNow, Inc. (NYSE:NOW)

GuoLine Advisory Pte Ltd increased its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 143.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 41,120 shares of the information technology services provider’s stock after buying an additional 24,220 shares during the period. ServiceNow comprises 3.8% of GuoLine Advisory Pte Ltd’s investment portfolio, making the stock its 14th largest holding. GuoLine Advisory Pte Ltd’s holdings in ServiceNow were worth $31,350,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the business. University of Texas Texas AM Investment Managment Co. acquired a new position in shares of ServiceNow in the 4th quarter valued at $29,000. AdvisorNet Financial Inc raised its position in ServiceNow by 266.7% in the 4th quarter. AdvisorNet Financial Inc now owns 44 shares of the information technology services provider’s stock valued at $31,000 after purchasing an additional 32 shares during the last quarter. Sachetta LLC purchased a new stake in ServiceNow in the 4th quarter valued at $35,000. Disciplined Equity Management Inc. purchased a new stake in ServiceNow in the 4th quarter valued at $35,000. Finally, Fortitude Family Office LLC purchased a new stake in ServiceNow in the 4th quarter valued at $41,000. 87.18% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on NOW. BMO Capital Markets cut their price objective on shares of ServiceNow from $850.00 to $830.00 and set an “outperform” rating for the company in a research report on Thursday, April 25th. Wolfe Research reiterated an “outperform” rating and issued a $830.00 price target on shares of ServiceNow in a report on Friday, May 10th. Morgan Stanley increased their price target on shares of ServiceNow from $814.00 to $830.00 and gave the company an “overweight” rating in a report on Thursday, April 25th. William Blair reiterated an “outperform” rating on shares of ServiceNow in a report on Tuesday, May 7th. Finally, KeyCorp lowered their price objective on shares of ServiceNow from $1,000.00 to $950.00 and set an “overweight” rating on the stock in a research note on Thursday, April 25th. Three research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company’s stock. According to MarketBeat, ServiceNow presently has an average rating of “Moderate Buy” and an average target price of $814.48.

Insiders Place Their Bets

In other ServiceNow news, insider Nicholas Tzitzon sold 2,000 shares of ServiceNow stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $690.99, for a total transaction of $1,381,980.00. Following the transaction, the insider now owns 3,649 shares of the company’s stock, valued at approximately $2,521,422.51. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other ServiceNow news, insider Paul John Smith sold 190 shares of the company’s stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $718.78, for a total value of $136,568.20. Following the sale, the insider now directly owns 3,010 shares in the company, valued at $2,163,527.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Nicholas Tzitzon sold 2,000 shares of the stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $690.99, for a total value of $1,381,980.00. Following the sale, the insider now owns 3,649 shares in the company, valued at approximately $2,521,422.51. The disclosure for this sale can be found here. In the last quarter, insiders have sold 5,530 shares of company stock worth $3,997,012. Company insiders own 0.25% of the company’s stock.

ServiceNow Stock Up 1.4 %

Shares of NOW stock traded up $11.16 during mid-day trading on Friday, reaching $785.29. 597,218 shares of the company were exchanged, compared to its average volume of 1,275,876. The company has a market capitalization of $160.98 billion, a P/E ratio of 82.79, a P/E/G ratio of 4.73 and a beta of 0.96. The business’s 50 day simple moving average is $724.24 and its 200 day simple moving average is $740.08. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.05 and a current ratio of 1.05. ServiceNow, Inc. has a fifty-two week low of $527.24 and a fifty-two week high of $815.32.

ServiceNow (NYSE:NOW) last announced its quarterly earnings results on Wednesday, April 24th. The information technology services provider reported $1.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.41 by $0.41. ServiceNow had a net margin of 20.34% and a return on equity of 13.59%. The company had revenue of $2.60 billion during the quarter, compared to the consensus estimate of $2.59 billion. Research analysts predict that ServiceNow, Inc. will post 6.5 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.