Bank of New Hampshire Raises Stock Holdings in ServiceNow, Inc. (NYSE:NOW)

Bank of New Hampshire grew its stake in ServiceNow, Inc. (NYSE:NOW) by 9,280.0% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 1,407 shares of the information technology services provider’s stock after buying an additional 1,392 shares during the period. Bank of New Hampshire’s holdings in ServiceNow were worth $1,120,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of NOW. Brighton Jones LLC increased its position in ServiceNow by 1.1% in the fourth quarter. Brighton Jones LLC now owns 2,753 shares of the information technology services provider’s stock worth $2,919,000 after buying an additional 30 shares in the last quarter. Union Bancaire Privee UBP SA purchased a new stake in shares of ServiceNow during the fourth quarter worth about $48,802,000. GHP Investment Advisors Inc. grew its position in shares of ServiceNow by 9.4% during the fourth quarter. GHP Investment Advisors Inc. now owns 210 shares of the information technology services provider’s stock worth $223,000 after purchasing an additional 18 shares in the last quarter. Leo Wealth LLC grew its position in shares of ServiceNow by 7.8% during the fourth quarter. Leo Wealth LLC now owns 275 shares of the information technology services provider’s stock worth $292,000 after purchasing an additional 20 shares in the last quarter. Finally, Golden State Wealth Management LLC purchased a new stake in shares of ServiceNow during the fourth quarter worth about $621,000. Hedge funds and other institutional investors own 87.18% of the company’s stock.

Insider Buying and Selling

In related news, Director Anita M. Sands sold 428 shares of the firm’s stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $1,013.61, for a total transaction of $433,825.08. Following the completion of the sale, the director now directly owns 10,891 shares of the company’s stock, valued at approximately $11,039,226.51. This trade represents a 3.78% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO William R. Mcdermott sold 2,050 shares of the firm’s stock in a transaction that occurred on Friday, May 30th. The stock was sold at an average price of $1,012.01, for a total value of $2,074,620.50. Following the sale, the chief executive officer now directly owns 6,614 shares of the company’s stock, valued at $6,693,434.14. This represents a 23.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 6,716 shares of company stock valued at $6,611,245. Insiders own 0.38% of the company’s stock.

ServiceNow Price Performance

NYSE:NOW opened at $1,030.70 on Friday. The firm has a market capitalization of $213.34 billion, a price-to-earnings ratio of 150.91, a PEG ratio of 4.51 and a beta of 0.95. ServiceNow, Inc. has a 1 year low of $678.66 and a 1 year high of $1,198.09. The business has a 50 day simple moving average of $919.44 and a 200-day simple moving average of $974.63. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.10 and a quick ratio of 1.10.

ServiceNow (NYSE:NOW) last posted its quarterly earnings data on Wednesday, April 23rd. The information technology services provider reported $4.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.78 by $0.26. ServiceNow had a return on equity of 17.11% and a net margin of 12.97%. The business had revenue of $3.09 billion during the quarter, compared to analyst estimates of $3.09 billion. During the same period last year, the company earned $3.41 EPS. The company’s revenue for the quarter was up 18.6% on a year-over-year basis. Equities analysts forecast that ServiceNow, Inc. will post 8.93 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms recently issued reports on NOW. UBS Group reiterated a “buy” rating and set a $1,025.00 target price (up previously from $900.00) on shares of ServiceNow in a research report on Thursday, April 24th. Jefferies Financial Group cut their target price on ServiceNow from $1,250.00 to $1,025.00 and set a “buy” rating for the company in a research report on Tuesday, April 15th. Scotiabank set a $1,100.00 target price on ServiceNow and gave the stock an “outperform” rating in a research report on Wednesday, May 7th. The Goldman Sachs Group reiterated a “buy” rating on shares of ServiceNow in a research report on Thursday, April 24th. Finally, JMP Securities reiterated a “market outperform” rating and set a $1,300.00 target price on shares of ServiceNow in a research report on Tuesday, May 6th. One analyst has rated the stock with a sell rating, two have given a hold rating, thirty have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $1,062.50.

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.