Congress Asset Management Co. MA Grows Position in ServiceNow, Inc. (NYSE:NOW)

Congress Asset Management Co. MA lifted its position in shares of ServiceNow, Inc. (NYSE:NOW) by 0.8% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 170,254 shares of the information technology services provider’s stock after purchasing an additional 1,304 shares during the quarter. Congress Asset Management Co. MA owned about 0.08% of ServiceNow worth $129,802,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. David J Yvars Group raised its stake in shares of ServiceNow by 10.9% in the 1st quarter. David J Yvars Group now owns 510 shares of the information technology services provider’s stock valued at $389,000 after acquiring an additional 50 shares during the period. Gulf International Bank UK Ltd lifted its stake in shares of ServiceNow by 4.4% during the first quarter. Gulf International Bank UK Ltd now owns 17,925 shares of the information technology services provider’s stock worth $13,666,000 after purchasing an additional 754 shares in the last quarter. Meyer Handelman Co. purchased a new stake in shares of ServiceNow in the first quarter worth about $629,000. RFG Advisory LLC grew its stake in shares of ServiceNow by 9.4% in the first quarter. RFG Advisory LLC now owns 3,641 shares of the information technology services provider’s stock valued at $2,776,000 after buying an additional 314 shares in the last quarter. Finally, BTC Capital Management Inc. purchased a new stake in shares of ServiceNow during the 1st quarter valued at about $643,000. Institutional investors and hedge funds own 87.18% of the company’s stock.

Insider Buying and Selling

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

ServiceNow Stock Performance

Shares of NOW traded up $15.02 during midday trading on Friday, hitting $749.33. 1,764,477 shares of the stock traded hands, compared to its average volume of 1,586,168. 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 1-year low of $527.24 and a 1-year high of $815.32. The business’s 50 day moving average price is $723.59 and its two-hundred day moving average price is $738.85. The firm has a market capitalization of $153.61 billion, a PE ratio of 80.14, a price-to-earnings-growth ratio of 4.60 and a beta of 0.96.

ServiceNow (NYSE:NOW) last posted its earnings results on Wednesday, April 24th. The information technology services provider reported $1.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $2.59 billion. Equities research analysts predict that ServiceNow, Inc. will post 6.5 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have weighed in on NOW shares. Needham & Company LLC restated a “buy” rating and issued a $900.00 price target on shares of ServiceNow in a report on Tuesday. Stifel Nicolaus reaffirmed a “buy” rating and set a $820.00 price target on shares of ServiceNow in a research note on Wednesday, March 20th. StockNews.com cut shares of ServiceNow from a “buy” rating to a “hold” rating in a research report on Friday, April 26th. Citigroup lifted their target price on ServiceNow from $896.00 to $906.00 and gave the stock a “buy” rating in a research report on Thursday, April 18th. Finally, Robert W. Baird lifted their price objective on ServiceNow from $870.00 to $885.00 and gave the stock an “outperform” rating in a report on Tuesday, May 7th. Three investment analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $814.48.

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.