First Trust Direct Indexing L.P. Purchases 415 Shares of ServiceNow, Inc. (NYSE:NOW)

First Trust Direct Indexing L.P. lifted its position in shares of ServiceNow, Inc. (NYSE:NOW) by 9.1% during the 1st quarter, HoldingsChannel.com reports. The firm owned 4,964 shares of the information technology services provider’s stock after buying an additional 415 shares during the quarter. First Trust Direct Indexing L.P.’s holdings in ServiceNow were worth $3,785,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of NOW. Vanguard Group Inc. lifted its stake in ServiceNow by 0.7% in the third quarter. Vanguard Group Inc. now owns 17,753,781 shares of the information technology services provider’s stock valued at $9,923,653,000 after buying an additional 122,577 shares during the period. Jennison Associates LLC raised its stake in shares of ServiceNow by 2.2% in the fourth quarter. Jennison Associates LLC now owns 2,521,190 shares of the information technology services provider’s stock valued at $1,781,195,000 after buying an additional 53,719 shares during the period. Norges Bank purchased a new position in shares of ServiceNow during the 4th quarter valued at $1,648,259,000. Massachusetts Financial Services Co. MA increased its holdings in ServiceNow by 3.7% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,281,748 shares of the information technology services provider’s stock worth $1,612,032,000 after acquiring an additional 81,028 shares during the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its holdings in ServiceNow by 18.3% during the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 1,754,027 shares of the information technology services provider’s stock valued at $1,239,198,000 after purchasing an additional 271,153 shares during the last quarter. 87.18% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at ServiceNow

In related news, insider Christopher Bedi sold 215 shares of the stock in a transaction dated Wednesday, June 5th. The stock was sold at an average price of $700.00, for a total transaction of $150,500.00. Following the transaction, the insider now directly owns 15,892 shares in the company, valued at $11,124,400. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other ServiceNow news, insider Paul John Smith sold 190 shares of the firm’s stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $718.78, for a total value of $136,568.20. Following the transaction, the insider now directly owns 3,010 shares of the company’s stock, valued at $2,163,527.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Christopher Bedi sold 215 shares of the company’s stock in a transaction dated Wednesday, June 5th. The stock was sold at an average price of $700.00, for a total value of $150,500.00. Following the completion of the sale, the insider now directly owns 15,892 shares of the company’s stock, valued at approximately $11,124,400. The disclosure for this sale can be found here. Insiders have sold 5,530 shares of company stock valued at $3,997,012 in the last quarter. 0.25% of the stock is currently owned by corporate insiders.

ServiceNow Stock Performance

Shares of NOW stock traded down $8.19 during mid-day trading on Thursday, hitting $785.92. The stock had a trading volume of 577,464 shares, compared to its average volume of 1,202,180. The firm has a market cap of $161.11 billion, a PE ratio of 84.06, a PEG ratio of 4.98 and a beta of 0.99. The company’s 50-day simple moving average is $729.74 and its 200-day simple moving average is $742.98. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.05 and a quick 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 data on Wednesday, April 24th. The information technology services provider reported $1.82 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 firm had revenue of $2.60 billion during the quarter, compared to analysts’ expectations of $2.59 billion. Sell-side analysts anticipate that ServiceNow, Inc. will post 6.5 earnings per share for the current year.

Analysts Set New Price Targets

NOW has been the topic of several recent research reports. William Blair restated an “outperform” rating on shares of ServiceNow in a research report on Tuesday, May 7th. Stifel Nicolaus reissued a “buy” rating and set a $820.00 target price on shares of ServiceNow in a research note on Tuesday. Morgan Stanley boosted their target price on ServiceNow from $814.00 to $830.00 and gave the stock an “overweight” rating in a report on Thursday, April 25th. Citigroup raised their price target on shares of ServiceNow from $896.00 to $906.00 and gave the company a “buy” rating in a report on Thursday, April 18th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $900.00 price objective on shares of ServiceNow in a report on Tuesday, June 18th. Three equities research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $813.28.

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.