First Horizon Advisors Inc. Increases Stake in ServiceNow, Inc. (NYSE:NOW)

First Horizon Advisors Inc. raised its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 94.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 417 shares of the information technology services provider’s stock after buying an additional 203 shares during the quarter. First Horizon Advisors Inc.’s holdings in ServiceNow were worth $208,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Toronto Dominion Bank grew its holdings in ServiceNow by 1.1% during the 1st quarter. Toronto Dominion Bank now owns 117,606 shares of the information technology services provider’s stock valued at $58,816,000 after buying an additional 1,296 shares in the last quarter. Nissay Asset Management Corp Japan ADV boosted its position in shares of ServiceNow by 25.5% during the 1st quarter. Nissay Asset Management Corp Japan ADV now owns 121,511 shares of the information technology services provider’s stock valued at $60,769,000 after acquiring an additional 24,713 shares during the last quarter. Oxbow Advisors LLC boosted its position in shares of ServiceNow by 58.8% during the 1st quarter. Oxbow Advisors LLC now owns 15,915 shares of the information technology services provider’s stock valued at $7,959,000 after acquiring an additional 5,891 shares during the last quarter. Northeast Investment Management bought a new position in shares of ServiceNow during the 1st quarter valued at approximately $1,040,000. Finally, Rockefeller Capital Management L.P. boosted its position in shares of ServiceNow by 31.0% during the 1st quarter. Rockefeller Capital Management L.P. now owns 18,148 shares of the information technology services provider’s stock valued at $9,075,000 after acquiring an additional 4,290 shares during the last quarter. 85.69% of the stock is owned by institutional investors and hedge funds.

A number of research analysts have recently commented on NOW shares. TheStreet upgraded ServiceNow from a “c+” rating to a “b-” rating in a research report on Wednesday, April 28th. Mizuho lowered their price target on ServiceNow from $610.00 to $590.00 and set a “buy” rating for the company in a research report on Tuesday, May 11th. Wolfe Research lowered their price target on ServiceNow from $675.00 to $600.00 and set an “outperform” rating for the company in a research report on Friday, June 4th. Zacks Investment Research upgraded ServiceNow from a “sell” rating to a “hold” rating and set a $560.00 price target for the company in a research report on Friday, February 26th. Finally, JMP Securities raised their price target on ServiceNow from $540.00 to $568.00 and gave the stock a “market outperform” rating in a research report on Tuesday, April 13th. Three investment analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $603.83.

In other ServiceNow news, Director Paul Edward Chamberlain sold 75 shares of the stock in a transaction that occurred on Thursday, April 29th. The stock was sold at an average price of $521.00, for a total transaction of $39,075.00. Following the completion of the sale, the director now directly owns 9,424 shares of the company’s stock, valued at approximately $4,909,904. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Frederic B. Luddy sold 16,500 shares of the firm’s stock in a transaction that occurred on Tuesday, April 6th. The shares were sold at an average price of $510.46, for a total value of $8,422,590.00. Following the completion of the sale, the director now directly owns 811 shares of the company’s stock, valued at $413,983.06. The disclosure for this sale can be found here. Insiders have sold a total of 33,654 shares of company stock valued at $16,420,885 over the last ninety days. 0.72% of the stock is owned by insiders.

NYSE:NOW opened at $489.13 on Friday. The stock’s 50 day moving average price is $498.74. The stock has a market cap of $96.58 billion, a P/E ratio of 652.17, a PEG ratio of 13.80 and a beta of 0.93. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 0.53. ServiceNow, Inc. has a 52-week low of $372.87 and a 52-week high of $598.37.

ServiceNow (NYSE:NOW) last released its quarterly earnings results on Wednesday, April 28th. The information technology services provider reported $1.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.35 by $0.17. ServiceNow had a return on equity of 9.32% and a net margin of 3.15%. The firm had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.34 billion. During the same quarter last year, the business posted $1.05 EPS. The firm’s quarterly revenue was up 30.0% compared to the same quarter last year. Equities research analysts predict that ServiceNow, Inc. will post 1.2 EPS for the current fiscal year.

About ServiceNow

ServiceNow, Inc provides enterprise cloud computing solutions that defines, structures, consolidates, manages, and automates services for enterprises worldwide. It operates the Now platform that offers workflow automation, artificial intelligence, machine learning, performance analytics, electronic service catalogs and portals, configuration management systems, data benchmarking, encryption, and collaboration and development tools.

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Institutional Ownership by Quarter for ServiceNow (NYSE:NOW)

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