D.A. Davidson & CO. Buys 122,244 Shares of ServiceNow, Inc. $NOW

D.A. Davidson & CO. increased its stake in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 719.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 139,228 shares of the information technology services provider's stock after acquiring an additional 122,244 shares during the quarter. D.A. Davidson & CO.'s holdings in ServiceNow were worth $21,328,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Cohen Klingenstein LLC raised its position in ServiceNow by 400.0% during the 4th quarter. Cohen Klingenstein LLC now owns 10,000 shares of the information technology services provider's stock valued at $1,532,000 after purchasing an additional 8,000 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. grew its position in shares of ServiceNow by 385.9% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,599,397 shares of the information technology services provider's stock worth $398,202,000 after buying an additional 2,064,440 shares during the last quarter. Natural Investments LLC grew its position in shares of ServiceNow by 332.0% in the 4th quarter. Natural Investments LLC now owns 16,453 shares of the information technology services provider's stock worth $2,520,000 after buying an additional 12,644 shares during the last quarter. Focus Financial Network Inc. increased its stake in shares of ServiceNow by 286.1% during the fourth quarter. Focus Financial Network Inc. now owns 53,650 shares of the information technology services provider's stock valued at $8,219,000 after buying an additional 39,756 shares during the period. Finally, Telos Capital Management Inc. increased its stake in shares of ServiceNow by 706.0% during the fourth quarter. Telos Capital Management Inc. now owns 50,940 shares of the information technology services provider's stock valued at $7,803,000 after buying an additional 44,620 shares during the period. Institutional investors own 87.18% of the company's stock.

Insider Activity

In related news, insider Paul Fipps sold 9,641 shares of the firm's stock in a transaction that occurred on Wednesday, February 18th. The stock was sold at an average price of $105.93, for a total transaction of $1,021,271.13. Following the completion of the transaction, the insider owned 11,757 shares of the company's stock, valued at $1,245,419.01. This trade represents a 45.06% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Kevin Thomas Mcbride sold 1,400 shares of ServiceNow stock in a transaction on Friday, February 13th. The shares were sold at an average price of $105.71, for a total value of $147,994.00. Following the transaction, the insider owned 26,314 shares of the company's stock, valued at $2,781,652.94. The trade was a 5.05% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 16,237 shares of company stock worth $1,697,162. Insiders own 0.34% of the company's stock.

ServiceNow Stock Up 0.4%

Shares of ServiceNow stock opened at $90.50 on Tuesday. ServiceNow, Inc. has a 1 year low of $81.24 and a 1 year high of $211.48. The firm has a market cap of $93.30 billion, a price-to-earnings ratio of 53.93, a PEG ratio of 1.53 and a beta of 1.01. The company has a 50-day moving average of $104.51 and a 200 day moving average of $136.53. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.84 and a quick ratio of 0.84.

ServiceNow (NYSE:NOW - Get Free Report) last posted its quarterly earnings data on Wednesday, April 22nd. The information technology services provider reported $0.97 EPS for the quarter, hitting the consensus estimate of $0.97. The business had revenue of $3.77 billion for the quarter, compared to analyst estimates of $3.75 billion. ServiceNow had a net margin of 12.59% and a return on equity of 18.16%. ServiceNow's quarterly revenue was up 22.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.81 earnings per share. As a group, sell-side analysts anticipate that ServiceNow, Inc. will post 2.47 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts recently commented on the company. Sanford C. Bernstein raised their price target on ServiceNow from $219.00 to $226.00 and gave the stock an "outperform" rating in a research note on Thursday, April 23rd. Morgan Stanley reduced their price objective on shares of ServiceNow from $210.00 to $180.00 and set an "overweight" rating on the stock in a research report on Thursday, April 23rd. Cantor Fitzgerald decreased their price objective on shares of ServiceNow to $122.00 and set an "overweight" rating for the company in a report on Thursday, April 23rd. Wall Street Zen cut shares of ServiceNow from a "buy" rating to a "hold" rating in a research report on Saturday, February 28th. Finally, Mizuho cut their target price on shares of ServiceNow from $150.00 to $140.00 and set an "outperform" rating on the stock in a research note on Thursday, April 23rd. Two investment analysts have rated the stock with a Strong Buy rating, thirty-four have given a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $146.65.

About ServiceNow

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.

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