CoreCap Advisors LLC Purchases 737 Shares of ServiceNow, Inc. (NYSE:NOW)

CoreCap Advisors LLC lifted its position in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 142.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,256 shares of the information technology services provider's stock after purchasing an additional 737 shares during the period. CoreCap Advisors LLC's holdings in ServiceNow were worth $1,332,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in NOW. Vanguard Group Inc. lifted its stake in shares of ServiceNow by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 19,199,258 shares of the information technology services provider's stock worth $20,353,517,000 after acquiring an additional 190,430 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in ServiceNow by 6.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 7,955,924 shares of the information technology services provider's stock worth $8,434,235,000 after purchasing an additional 509,467 shares during the last quarter. FMR LLC lifted its position in shares of ServiceNow by 4.9% in the 4th quarter. FMR LLC now owns 5,878,900 shares of the information technology services provider's stock worth $6,232,339,000 after purchasing an additional 272,506 shares during the period. Geode Capital Management LLC boosted its stake in shares of ServiceNow by 2.4% in the 4th quarter. Geode Capital Management LLC now owns 4,312,571 shares of the information technology services provider's stock valued at $4,560,890,000 after purchasing an additional 100,670 shares during the last quarter. Finally, Norges Bank acquired a new stake in shares of ServiceNow during the fourth quarter worth $2,603,360,000. Institutional investors and hedge funds own 87.18% of the company's stock.

Insider Activity at ServiceNow

In related news, insider Jacqueline P. Canney sold 292 shares of the business's stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $1,017.55, for a total transaction of $297,124.60. Following the completion of the transaction, the insider now owns 3,027 shares in the company, valued at $3,080,123.85. The trade was a 8.80 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO William R. Mcdermott sold 1,263 shares of the firm's stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $1,019.10, for a total transaction of $1,287,123.30. Following the completion of the sale, the chief executive officer now owns 2,595 shares of the company's stock, valued at approximately $2,644,564.50. This trade represents a 32.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 16,410 shares of company stock valued at $15,821,524 over the last ninety days. 0.38% of the stock is owned by company insiders.

ServiceNow Price Performance

Shares of NOW stock opened at $975.86 on Friday. The stock has a market capitalization of $202.00 billion, a price-to-earnings ratio of 142.88, a P/E/G ratio of 4.51 and a beta of 0.97. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.15. ServiceNow, Inc. has a twelve month low of $637.99 and a twelve month high of $1,198.09. The stock has a fifty day simple moving average of $843.35 and a two-hundred day simple moving average of $969.61.

ServiceNow (NYSE:NOW - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The information technology services provider reported $4.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.78 by $0.26. ServiceNow had a net margin of 12.97% and a return on equity of 17.11%. The company had revenue of $3.09 billion for the quarter, compared to analysts' expectations of $3.09 billion. During the same period in the prior year, the business earned $3.41 EPS. The firm's quarterly revenue was up 18.6% on a year-over-year basis. On average, analysts predict that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

ServiceNow announced that its board has authorized a share buyback program on Wednesday, January 29th that allows the company to repurchase $3.00 billion in shares. This repurchase authorization allows the information technology services provider to buy up to 1.3% of its shares through open market purchases. Shares repurchase programs are often a sign that the company's board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

NOW has been the subject of several research analyst reports. Robert W. Baird lifted their price objective on shares of ServiceNow from $1,010.00 to $1,150.00 and gave the company an "outperform" rating in a research note on Thursday, April 24th. JPMorgan Chase & Co. dropped their price objective on shares of ServiceNow from $1,200.00 to $970.00 and set an "overweight" rating on the stock in a report on Tuesday, April 22nd. TD Securities restated a "buy" rating and issued a $1,100.00 target price on shares of ServiceNow in a research note on Thursday, April 24th. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $1,048.00 price target on shares of ServiceNow in a research note on Thursday, April 24th. Finally, Redburn Atlantic started coverage on ServiceNow in a research note on Wednesday, February 19th. They issued a "buy" rating for the company. One analyst has rated the stock with a sell rating, three have assigned a hold rating, thirty have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $1,048.55.

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.

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