Contravisory Investment Management Inc. Has $500,000 Holdings in ServiceNow, Inc. (NYSE:NOW)

Contravisory Investment Management Inc. boosted its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 4,620.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 472 shares of the information technology services provider’s stock after buying an additional 462 shares during the quarter. Contravisory Investment Management Inc.’s holdings in ServiceNow were worth $500,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Truvestments Capital LLC acquired a new stake in ServiceNow in the 3rd quarter worth approximately $30,000. DT Investment Partners LLC grew its position in shares of ServiceNow by 77.3% in the third quarter. DT Investment Partners LLC now owns 39 shares of the information technology services provider’s stock valued at $35,000 after purchasing an additional 17 shares during the last quarter. Oakworth Capital Inc. increased its stake in shares of ServiceNow by 46.7% in the third quarter. Oakworth Capital Inc. now owns 44 shares of the information technology services provider’s stock worth $39,000 after purchasing an additional 14 shares during the period. Semmax Financial Advisors Inc. acquired a new position in shares of ServiceNow during the 2nd quarter worth about $39,000. Finally, Dunhill Financial LLC grew its holdings in ServiceNow by 70.0% in the 3rd 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 currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. TD Cowen upped their target price on shares of ServiceNow from $1,025.00 to $1,300.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. Mizuho upped their price objective on shares of ServiceNow from $1,070.00 to $1,210.00 and gave the company an “outperform” rating in a research report on Friday, December 13th. UBS Group lifted their target price on ServiceNow from $900.00 to $1,055.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. Stifel Nicolaus raised their price objective on ServiceNow from $900.00 to $990.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Finally, The Goldman Sachs Group upped their target price on ServiceNow from $1,050.00 to $1,200.00 and gave the company a “buy” rating in a research note on Friday, January 10th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-five have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, ServiceNow has a consensus rating of “Moderate Buy” and a consensus target price of $1,071.39.

ServiceNow Stock Performance

Shares of NOW opened at $1,054.99 on Thursday. The firm’s 50 day moving average price is $1,066.34 and its two-hundred day moving average price is $927.52. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.13 and a current ratio of 1.13. ServiceNow, Inc. has a twelve month low of $637.99 and a twelve month high of $1,157.90. The firm has a market cap of $217.33 billion, a P/E ratio of 164.07, a PEG ratio of 4.65 and a beta of 0.99.

ServiceNow (NYSE:NOW) last issued its quarterly earnings results on Wednesday, October 23rd. The information technology services provider reported $3.72 EPS for the quarter, topping the consensus estimate of $3.46 by $0.26. The firm had revenue of $2.80 billion for the quarter, compared to analysts’ expectations of $2.75 billion. ServiceNow had a net margin of 12.77% and a return on equity of 16.03%. The company’s revenue for the quarter was up 22.2% on a year-over-year basis. During the same period in the previous year, the firm posted $1.21 EPS. On average, analysts forecast that ServiceNow, Inc. will post 7.07 EPS for the current fiscal year.

Insider Buying and Selling at ServiceNow

In other news, insider Jacqueline P. Canney sold 76 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $1,010.94, for a total value of $76,831.44. Following the completion of the sale, the insider now directly owns 3,027 shares of the company’s stock, valued at $3,060,115.38. This trade represents a 2.45 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Paul Edward Chamberlain sold 300 shares of the firm’s stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $1,047.95, for a total transaction of $314,385.00. Following the sale, the director now owns 10,467 shares of the company’s stock, valued at approximately $10,968,892.65. This represents a 2.79 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 20,276 shares of company stock worth $20,535,115 over the last ninety days. 0.25% of the stock is currently owned by corporate insiders.

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.