HWG Holdings LP Has $6.01 Million Stock Holdings in ServiceNow, Inc. (NYSE:NOW)

HWG Holdings LP increased its position in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 5.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,669 shares of the information technology services provider's stock after acquiring an additional 281 shares during the period. ServiceNow makes up about 2.0% of HWG Holdings LP's investment portfolio, making the stock its 16th largest position. HWG Holdings LP's holdings in ServiceNow were worth $6,010,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of NOW. Norges Bank acquired a new position in ServiceNow during the fourth quarter worth about $2,603,360,000. Proficio Capital Partners LLC grew its holdings in ServiceNow by 154,255.3% during the fourth quarter. Proficio Capital Partners LLC now owns 666,815 shares of the information technology services provider's stock worth $667,000 after acquiring an additional 666,383 shares during the period. Alphinity Investment Management Pty Ltd acquired a new position in ServiceNow during the fourth quarter worth about $682,468,000. Price T Rowe Associates Inc. MD grew its holdings in ServiceNow by 6.8% during the fourth 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 acquiring an additional 509,467 shares during the period. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its stake in ServiceNow by 36.7% in the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 1,830,419 shares of the information technology services provider's stock worth $1,940,464,000 after purchasing an additional 491,861 shares in the last quarter. 87.18% of the stock is owned by institutional investors and hedge funds.

ServiceNow Stock Performance

Shares of NOW traded down $7.41 on Wednesday, reaching $1,019.98. 989,959 shares of the stock traded hands, compared to its average volume of 1,524,789. The firm has a market cap of $211.12 billion, a price-to-earnings ratio of 149.34, a P/E/G ratio of 4.51 and a beta of 0.97. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.10 and a quick ratio of 1.10. ServiceNow, Inc. has a 12 month low of $637.99 and a 12 month high of $1,198.09. The stock's 50-day moving average price is $889.06 and its 200-day moving average price is $975.33.

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

ServiceNow declared that its board has approved a share repurchase program on Wednesday, January 29th that allows the company to repurchase $3.00 billion in outstanding 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 usually an indication that the company's board believes its shares are undervalued.

Analyst Upgrades and Downgrades

NOW has been the topic of a number of analyst reports. William Blair reissued an "outperform" rating on shares of ServiceNow in a research note on Friday, March 7th. Needham & Company LLC reissued a "buy" rating and issued a $1,050.00 price target on shares of ServiceNow in a research note on Tuesday, May 6th. Wells Fargo & Company raised their price objective on ServiceNow from $1,100.00 to $1,150.00 and gave the stock an "overweight" rating in a research report on Thursday, April 24th. Erste Group Bank upgraded ServiceNow from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, April 30th. Finally, Canaccord Genuity Group decreased their price objective on ServiceNow from $1,275.00 to $900.00 and set a "buy" rating for the company in a research report on Tuesday, April 22nd. One analyst has rated the stock with a sell rating, three have given a hold rating, twenty-nine have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $1,062.50.

Insider Activity

In other ServiceNow news, General Counsel Russell S. Elmer sold 191 shares of the business's stock in a transaction on Thursday, May 8th. The stock was sold at an average price of $985.00, for a total value of $188,135.00. Following the transaction, the general counsel now owns 4,332 shares of the company's stock, valued at approximately $4,267,020. The trade was a 4.22% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jonathan Chadwick sold 770 shares of the business's stock in a transaction on Monday, April 28th. The stock was sold at an average price of $931.62, for a total value of $717,347.40. Following the completion of the transaction, the director now directly owns 3,205 shares in the company, valued at approximately $2,985,842.10. This represents a 19.37% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 2,674 shares of company stock worth $2,510,213. Company insiders own 0.38% of the company's stock.

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.