Alcosta Capital Management Inc. grew its position in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 155.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 29,755 shares of the information technology services provider's stock after purchasing an additional 18,111 shares during the period. ServiceNow accounts for about 2.9% of Alcosta Capital Management Inc.'s investment portfolio, making the stock its 15th largest position. Alcosta Capital Management Inc.'s holdings in ServiceNow were worth $4,558,000 at the end of the most recent reporting period.
A number of other hedge funds also recently made changes to their positions in NOW. IAG Wealth Partners LLC boosted its holdings in shares of ServiceNow by 200.0% during the third quarter. IAG Wealth Partners LLC now owns 27 shares of the information technology services provider's stock valued at $25,000 after acquiring an additional 18 shares during the period. Noble Wealth Management PBC lifted its holdings in shares of ServiceNow by 400.0% during the fourth quarter. Noble Wealth Management PBC now owns 160 shares of the information technology services provider's stock worth $25,000 after buying an additional 128 shares during the last quarter. Millstone Evans Group LLC boosted its stake in shares of ServiceNow by 400.0% in the 4th quarter. Millstone Evans Group LLC now owns 165 shares of the information technology services provider's stock valued at $25,000 after purchasing an additional 132 shares in the last quarter. CBIZ Investment Advisory Services LLC boosted its stake in shares of ServiceNow by 540.0% in the 4th quarter. CBIZ Investment Advisory Services LLC now owns 160 shares of the information technology services provider's stock valued at $25,000 after purchasing an additional 135 shares in the last quarter. Finally, Blueline Advisors LLC bought a new stake in shares of ServiceNow during the fourth quarter worth $25,000. Hedge funds and other institutional investors own 87.18% of the company's stock.
Insider Activity at ServiceNow
In other news, insider Jacqueline P. Canney sold 8,927 shares of the firm's stock in a transaction dated Friday, April 24th. The shares were sold at an average price of $89.60, for a total value of $799,859.20. Following the transaction, the insider owned 29,531 shares of the company's stock, valued at approximately $2,645,977.60. This trade represents a 23.21% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Paul Fipps sold 1,048 shares of the firm's stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $98.51, for a total transaction of $103,238.48. Following the sale, the insider owned 12,072 shares in the company, valued at $1,189,212.72. This trade represents a 7.99% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 28,071 shares of company stock worth $2,529,956 in the last quarter. Insiders own 0.34% of the company's stock.
ServiceNow Price Performance
ServiceNow stock opened at $102.34 on Friday. The stock has a market cap of $105.51 billion, a P/E ratio of 60.99, a price-to-earnings-growth ratio of 1.70 and a beta of 0.94. The company has a fifty day simple moving average of $99.80 and a 200-day simple moving average of $120.05. ServiceNow, Inc. has a 12-month low of $81.24 and a 12-month high of $211.48. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.13.
ServiceNow (NYSE:NOW - Get Free Report) last announced its quarterly earnings data on Wednesday, April 22nd. The information technology services provider reported $0.97 earnings per share for the quarter, hitting the consensus estimate of $0.97. ServiceNow had a net margin of 12.59% and a return on equity of 18.16%. The company had revenue of $3.77 billion during the quarter, compared to analyst estimates of $3.75 billion. During the same period last year, the business earned $0.81 EPS. The firm's revenue for the quarter was up 22.1% compared to the same quarter last year. Equities analysts expect that ServiceNow, Inc. will post 2.35 EPS for the current fiscal year.
Analyst Upgrades and Downgrades
A number of equities research analysts have recently issued reports on the company. UBS Group reiterated an "outperform" rating on shares of ServiceNow in a research note on Tuesday, May 26th. Morgan Stanley reduced their price objective on ServiceNow from $210.00 to $180.00 and set an "overweight" rating on the stock in a research note on Thursday, April 23rd. TD Cowen restated a "buy" rating and set a $140.00 price objective on shares of ServiceNow in a report on Thursday, April 23rd. The Goldman Sachs Group decreased their price objective on ServiceNow from $188.00 to $163.00 and set a "buy" rating on the stock in a research note on Thursday, April 23rd. Finally, Citizens Jmp restated a "market outperform" rating and issued a $157.00 target price on shares of ServiceNow in a research note on Tuesday, May 5th. One analyst has rated the stock with a Strong Buy rating, thirty-five have issued a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, ServiceNow presently has an average rating of "Moderate Buy" and an average price target of $141.85.
View Our Latest Stock Report on NOW
Key Stories Impacting ServiceNow
Here are the key news stories impacting ServiceNow this week:
About ServiceNow
(
Free Report)
ServiceNow NYSE: NOW is a cloud computing company that builds enterprise software to manage digital workflows and automate business processes. Its offerings are designed to replace manual work and legacy systems with cloud-based, service-oriented applications that support IT operations, customer service, human resources, security response and other enterprise functions.
The company's flagship product family is the Now Platform, a suite of subscription software and platform services that includes IT Service Management (ITSM), IT Operations Management (ITOM), IT Business Management (ITBM), Customer Service Management (CSM), HR Service Delivery, Security Operations and Asset Management.
Featured Stories
Want to see what other hedge funds are holding NOW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ServiceNow, Inc. (NYSE:NOW - Free Report).
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider ServiceNow, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and ServiceNow wasn't on the list.
While ServiceNow currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Wondering what the next stocks will be that hit it big, with solid fundamentals? Click the link to see which stocks MarketBeat analysts could become the next blockbuster growth stocks.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
