Valeo Financial Advisors LLC Purchases 127 Shares of ServiceNow, Inc. (NYSE:NOW)

Valeo Financial Advisors LLC boosted its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 6.8% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,997 shares of the information technology services provider’s stock after acquiring an additional 127 shares during the quarter. Valeo Financial Advisors LLC’s holdings in ServiceNow were worth $1,523,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in NOW. Norges Bank bought a new stake in ServiceNow during the 4th quarter worth about $1,648,259,000. International Assets Investment Management LLC boosted its stake in shares of ServiceNow by 69,354.6% in the 4th quarter. International Assets Investment Management LLC now owns 821,648 shares of the information technology services provider’s stock valued at $580,486,000 after purchasing an additional 820,465 shares during the last quarter. Global Assets Advisory LLC bought a new position in shares of ServiceNow in the 1st quarter valued at about $403,034,000. Cerity Partners LLC boosted its stake in shares of ServiceNow by 1,073.7% in the 4th quarter. Cerity Partners LLC now owns 406,262 shares of the information technology services provider’s stock valued at $287,020,000 after purchasing an additional 371,648 shares during the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its stake in shares of ServiceNow by 18.3% in the 4th 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. Institutional investors own 87.18% of the company’s stock.

ServiceNow Stock Down 1.0 %

NOW opened at $786.28 on Thursday. ServiceNow, Inc. has a fifty-two week low of $527.24 and a fifty-two week high of $815.32. 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 company has a market capitalization of $161.19 billion, a P/E ratio of 84.09, a P/E/G ratio of 4.98 and a beta of 0.99. The stock has a fifty day moving average of $728.95 and a 200-day moving average of $742.68.

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

Analyst Ratings Changes

NOW has been the topic of several recent research reports. Stifel Nicolaus reaffirmed a “buy” rating and issued a $820.00 target price on shares of ServiceNow in a research note on Tuesday. UBS Group dropped their target price on shares of ServiceNow from $920.00 to $875.00 and set a “buy” rating on the stock in a report on Thursday, April 25th. Needham & Company LLC restated a “buy” rating and set a $900.00 target price on shares of ServiceNow in a report on Tuesday, June 18th. Wolfe Research restated an “outperform” rating and set a $830.00 target price on shares of ServiceNow in a report on Friday, May 10th. Finally, Robert W. Baird raised their price target on shares of ServiceNow from $870.00 to $885.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 7th. Three research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $813.28.

Insider Activity at ServiceNow

In related news, insider Christopher Bedi sold 215 shares of the business’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 transaction, the insider now owns 15,892 shares of the company’s stock, valued at $11,124,400. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, insider Christopher Bedi sold 215 shares of the business’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 transaction, the insider now owns 15,892 shares of the company’s stock, valued at $11,124,400. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Paul John Smith sold 602 shares of the business’s stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $769.75, for a total value of $463,389.50. Following the transaction, the insider now directly owns 3,619 shares of the company’s stock, valued at approximately $2,785,725.25. The disclosure for this sale can be found here. Insiders sold a total of 5,530 shares of company stock valued at $3,997,012 over the last quarter. 0.25% of the stock is owned by corporate insiders.

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.