ServiceNow, Inc. (NYSE:NOW) Shares Purchased by AMF Tjanstepension AB

AMF Tjanstepension AB raised its position in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 16.1% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 248,779 shares of the information technology services provider's stock after purchasing an additional 34,583 shares during the quarter. ServiceNow comprises 1.4% of AMF Tjanstepension AB's portfolio, making the stock its 19th largest holding. AMF Tjanstepension AB owned about 0.12% of ServiceNow worth $189,669,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Argonautica Private Wealth Management Inc. increased its holdings in shares of ServiceNow by 1.0% in the fourth quarter. Argonautica Private Wealth Management Inc. now owns 1,376 shares of the information technology services provider's stock valued at $972,000 after buying an additional 13 shares in the last quarter. Wealth Management Partners LLC raised its position in shares of ServiceNow by 2.7% during the fourth quarter. Wealth Management Partners LLC now owns 531 shares of the information technology services provider's stock worth $375,000 after purchasing an additional 14 shares during the period. Oliver Lagore Vanvalin Investment Group lifted its holdings in shares of ServiceNow by 30.4% during the fourth quarter. Oliver Lagore Vanvalin Investment Group now owns 60 shares of the information technology services provider's stock valued at $42,000 after purchasing an additional 14 shares during the last quarter. Trust Co. of Vermont boosted its position in shares of ServiceNow by 8.6% in the 3rd quarter. Trust Co. of Vermont now owns 190 shares of the information technology services provider's stock valued at $106,000 after purchasing an additional 15 shares during the period. Finally, Claro Advisors LLC increased its stake in ServiceNow by 3.6% in the 4th quarter. Claro Advisors LLC now owns 428 shares of the information technology services provider's stock worth $302,000 after purchasing an additional 15 shares in the last quarter. 87.18% of the stock is currently owned by institutional investors and hedge funds.

ServiceNow Stock Performance

NYSE:NOW traded up $13.06 during midday trading on Friday, reaching $787.19. The stock had a trading volume of 1,721,537 shares, compared to its average volume of 1,285,069. The stock has a market capitalization of $161.37 billion, a P/E ratio of 84.19, a PEG ratio of 4.73 and a beta of 0.96. ServiceNow, Inc. has a 1-year low of $527.24 and a 1-year high of $815.32. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.05 and a quick ratio of 1.05. The firm's fifty day simple moving average is $726.55 and its 200-day simple moving average is $740.89.

ServiceNow (NYSE:NOW - Get Free Report) last issued its quarterly earnings results 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. ServiceNow had a return on equity of 13.59% and a net margin of 20.34%. The company had revenue of $2.60 billion for the quarter, compared to the consensus estimate of $2.59 billion. On average, equities research analysts forecast that ServiceNow, Inc. will post 6.5 EPS for the current fiscal year.

Analysts Set New Price Targets

NOW has been the subject of several recent analyst reports. Guggenheim reiterated a "neutral" rating on shares of ServiceNow in a report on Monday, April 15th. Wolfe Research reiterated an "outperform" rating and set a $830.00 price objective on shares of ServiceNow in a research report on Friday, May 10th. Jefferies Financial Group increased their target price on ServiceNow from $885.00 to $900.00 and gave the company a "buy" rating in a report on Wednesday, April 10th. UBS Group lowered their price target on ServiceNow from $920.00 to $875.00 and set a "buy" rating on the stock in a report on Thursday, April 25th. Finally, JMP Securities reissued a "market outperform" rating and issued a $825.00 price objective on shares of ServiceNow 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, the company has an average rating of "Moderate Buy" and an average target price of $814.48.

Insider Buying and Selling at ServiceNow

In other news, insider Christopher Bedi sold 215 shares of the company'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 transaction of $150,500.00. Following the completion of the transaction, the insider now directly owns 15,892 shares in the company, valued at $11,124,400. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, insider Nicholas Tzitzon sold 2,000 shares of ServiceNow stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $690.99, for a total transaction of $1,381,980.00. Following the sale, the insider now owns 3,649 shares of the company's stock, valued at approximately $2,521,422.51. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Christopher Bedi sold 215 shares of the business's stock in a transaction on Wednesday, June 5th. The shares were sold at an average price of $700.00, for a total transaction of $150,500.00. Following the completion of the sale, the insider now directly owns 15,892 shares in the company, 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 90 days. 0.25% of the stock is currently owned by insiders.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.