Focus Partners Wealth raised its stake in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 429.5% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 776,886 shares of the information technology services provider's stock after purchasing an additional 630,158 shares during the quarter. Focus Partners Wealth owned 0.07% of ServiceNow worth $119,570,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds also recently made changes to their positions in NOW. Norges Bank bought a new stake in ServiceNow during the fourth quarter worth about $2,020,992,000. Cohen Klingenstein LLC grew its stake in ServiceNow by 400.0% during the fourth quarter. Cohen Klingenstein LLC now owns 10,000 shares of the information technology services provider's stock worth $1,532,000 after buying an additional 8,000 shares during the last quarter. World Investment Advisors grew its stake in ServiceNow by 411.7% during the fourth quarter. World Investment Advisors now owns 47,955 shares of the information technology services provider's stock worth $7,218,000 after buying an additional 38,583 shares during the last quarter. Moors & Cabot Inc. grew its stake in ServiceNow by 387.7% during the fourth quarter. Moors & Cabot Inc. now owns 45,630 shares of the information technology services provider's stock worth $6,990,000 after buying an additional 36,274 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. grew its stake in ServiceNow by 385.9% during the fourth 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. Institutional investors own 87.18% of the company's stock.
Key Stories Impacting ServiceNow
Here are the key news stories impacting ServiceNow this week:
Insider Activity at ServiceNow
In related news, Director Anita M. Sands sold 16,445 shares of the stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $90.14, for a total value of $1,482,352.30. Following the transaction, the director directly owned 30,090 shares in the company, valued at $2,712,312.60. This represents a 35.34% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Paul Edward Chamberlain sold 1,500 shares of the stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $87.23, for a total transaction of $130,845.00. Following the completion of the transaction, the director owned 44,930 shares in the company, valued at $3,919,243.90. This represents a 3.23% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 28,071 shares of company stock valued at $2,529,956 over the last ninety days. Company insiders own 0.34% of the company's stock.
Wall Street Analyst Weigh In
Several analysts have weighed in on NOW shares. Citic Securities decreased their price objective on shares of ServiceNow from $168.00 to $140.00 and set a "buy" rating on the stock in a research note on Thursday, May 21st. BTIG Research reaffirmed a "buy" rating and set a $150.00 price objective on shares of ServiceNow in a research note on Monday, May 4th. Jefferies Financial Group reaffirmed a "buy" rating and set a $135.00 price objective (down from $175.00) on shares of ServiceNow in a research note on Thursday, April 23rd. Citizens Jmp reaffirmed a "market outperform" rating and set a $157.00 price objective on shares of ServiceNow in a research note on Tuesday, May 5th. Finally, Stifel Nicolaus reduced their target price on shares of ServiceNow from $135.00 to $120.00 and set a "buy" rating on the stock in a research report on Thursday, April 23rd. One equities research analyst has rated the stock with a Strong Buy rating, thirty-five have issued a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, ServiceNow currently has a consensus rating of "Moderate Buy" and an average price target of $141.85.
Check Out Our Latest Analysis on NOW
ServiceNow Price Performance
Shares of NOW stock opened at $102.34 on Monday. ServiceNow, Inc. has a 1 year low of $81.24 and a 1 year high of $211.48. The firm's 50 day moving average is $99.80 and its 200-day moving average is $119.74. The firm has a market capitalization of $105.51 billion, a price-to-earnings ratio of 60.99, a PEG ratio of 1.69 and a beta of 0.94. 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 earnings results on Wednesday, April 22nd. The information technology services provider reported $0.97 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $3.75 billion. During the same period in the prior year, the business earned $0.81 earnings per share. ServiceNow's quarterly revenue was up 22.1% on a year-over-year basis. Sell-side analysts forecast that ServiceNow, Inc. will post 2.35 EPS for the current fiscal year.
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.
Further Reading
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