Fiduciary Alliance LLC grew its position in shares of ServiceNow, Inc. (NYSE:NOW – Free Report) by 184.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,215 shares of the information technology services provider’s stock after purchasing an additional 788 shares during the quarter. Fiduciary Alliance LLC’s holdings in ServiceNow were worth $1,288,000 as of its most recent SEC filing.
A number of other large investors also recently modified their holdings of NOW. Truvestments Capital LLC purchased a new position in shares of ServiceNow during the third quarter worth approximately $30,000. DT Investment Partners LLC raised its position in ServiceNow by 77.3% in the 3rd quarter. DT Investment Partners LLC now owns 39 shares of the information technology services provider’s stock worth $35,000 after purchasing an additional 17 shares during the period. Semmax Financial Advisors Inc. bought a new stake in ServiceNow in the second quarter worth $39,000. Oakworth Capital Inc. boosted its position in ServiceNow by 46.7% during the third quarter. Oakworth Capital Inc. now owns 44 shares of the information technology services provider’s stock valued at $39,000 after buying an additional 14 shares during the period. Finally, Dunhill Financial LLC grew its stake in shares of ServiceNow by 70.0% during the third quarter. Dunhill Financial LLC now owns 51 shares of the information technology services provider’s stock valued at $46,000 after buying an additional 21 shares during the last quarter. 87.18% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Several brokerages recently weighed in on NOW. BMO Capital Markets increased their target price on ServiceNow from $860.00 to $1,025.00 and gave the company an “outperform” rating in a report on Thursday, October 10th. Canaccord Genuity Group raised their target price on shares of ServiceNow from $1,000.00 to $1,200.00 and gave the stock a “buy” rating in a report on Friday, December 20th. Wells Fargo & Company increased their price target on shares of ServiceNow from $1,150.00 to $1,250.00 and gave the company an “overweight” rating in a research report on Thursday, December 5th. Evercore ISI boosted their price objective on shares of ServiceNow from $950.00 to $1,000.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Finally, Needham & Company LLC increased their target price on shares of ServiceNow from $1,075.00 to $1,150.00 and gave the stock a “buy” rating in a report on Monday, November 25th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-five have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, ServiceNow presently has a consensus rating of “Moderate Buy” and an average target price of $1,071.39.
Insider Activity
In related news, insider Jacqueline P. Canney sold 353 shares of the stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $924.96, for a total transaction of $326,510.88. Following the transaction, the insider now owns 3,027 shares in the company, valued at $2,799,853.92. This represents a 10.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO William R. Mcdermott sold 12,271 shares of ServiceNow stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $997.67, for a total transaction of $12,242,408.57. Following the completion of the sale, the chief executive officer now directly owns 2,595 shares of the company’s stock, valued at approximately $2,588,953.65. This trade represents a 82.54 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 20,629 shares of company stock valued at $20,861,626 over the last ninety days. 0.25% of the stock is currently owned by corporate insiders.
ServiceNow Stock Performance
Shares of NOW stock opened at $1,012.47 on Tuesday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.13 and a current ratio of 1.13. The company has a market capitalization of $208.57 billion, a price-to-earnings ratio of 157.46, a price-to-earnings-growth ratio of 6.43 and a beta of 0.99. ServiceNow, Inc. has a one year low of $637.99 and a one year high of $1,157.90. The company’s 50-day moving average is $1,065.17 and its 200 day moving average is $925.81.
ServiceNow (NYSE:NOW – Get Free Report) last announced its quarterly earnings results on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share for the quarter, beating the consensus estimate of $3.46 by $0.26. The company had revenue of $2.80 billion during the quarter, compared to the consensus estimate of $2.75 billion. ServiceNow had a net margin of 12.77% and a return on equity of 16.03%. During the same quarter last year, the firm earned $1.21 earnings per share. The firm’s quarterly revenue was up 22.2% compared to the same quarter last year. Sell-side analysts expect that ServiceNow, Inc. will post 7.07 EPS for the current fiscal year.
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.
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