WD Rutherford LLC Increases Stake in ServiceNow, Inc. (NYSE:NOW)

WD Rutherford LLC raised its position in ServiceNow, Inc. (NYSE:NOW) by 0.8% during the first quarter, HoldingsChannel reports. The firm owned 5,083 shares of the information technology services provider’s stock after purchasing an additional 41 shares during the period. ServiceNow comprises 2.0% of WD Rutherford LLC’s holdings, making the stock its 21st biggest position. WD Rutherford LLC’s holdings in ServiceNow were worth $3,875,000 at the end of the most recent reporting period.

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

Wall Street Analyst Weigh In

A number of brokerages have issued reports on NOW. Wolfe Research reaffirmed an “outperform” rating and issued a $830.00 target price on shares of ServiceNow in a research note on Friday, May 10th. Morgan Stanley raised their target price on ServiceNow from $814.00 to $830.00 and gave the stock an “overweight” rating in a research note on Thursday, April 25th. BMO Capital Markets cut their target price on ServiceNow from $850.00 to $830.00 and set an “outperform” rating for the company in a research note on Thursday, April 25th. Stifel Nicolaus reissued a “buy” rating and set a $820.00 price objective on shares of ServiceNow in a research report on Wednesday, March 20th. Finally, Jefferies Financial Group raised their price objective on ServiceNow from $885.00 to $900.00 and gave the stock a “buy” rating in a research report on Wednesday, April 10th. Three equities research analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $814.48.

Insider Activity

In related news, CFO Gina Mastantuono sold 1,800 shares of the business’s stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $738.88, for a total transaction of $1,329,984.00. Following the completion of the sale, the chief financial officer now owns 13,290 shares in the company, valued at $9,819,715.20. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CFO Gina Mastantuono sold 1,800 shares of the business’s stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $738.88, for a total transaction of $1,329,984.00. Following the completion of the sale, the chief financial officer now owns 13,290 shares in the company, valued at $9,819,715.20. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Christopher Bedi sold 215 shares of the business’s stock in a transaction that occurred on Wednesday, June 5th. The stock was sold at an average price of $700.00, for a total value of $150,500.00. Following the sale, the insider now owns 15,892 shares of the company’s stock, valued at approximately $11,124,400. The disclosure for this sale can be found here. In the last quarter, insiders sold 5,530 shares of company stock worth $3,997,012. 0.25% of the stock is currently owned by company insiders.

ServiceNow Stock Up 1.6 %

Shares of NOW traded up $12.54 during midday trading on Friday, hitting $786.67. The company had a trading volume of 1,721,786 shares, compared to its average volume of 1,451,259. The company’s 50-day simple moving average is $726.55 and its 200-day simple moving average is $740.89. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.05 and a current ratio of 1.05. The firm has a market capitalization of $161.27 billion, a P/E ratio of 84.19, a P/E/G ratio of 4.85 and a beta of 0.96. ServiceNow, Inc. has a 1 year low of $527.24 and a 1 year high of $815.32.

ServiceNow (NYSE:NOW) last announced its quarterly earnings data 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. The business had revenue of $2.60 billion during the quarter, compared to analysts’ expectations of $2.59 billion. ServiceNow had a return on equity of 13.59% and a net margin of 20.34%. As a group, sell-side analysts expect that ServiceNow, Inc. will post 6.5 EPS for the current year.

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.