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

HWG Holdings LP raised its stake in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 5.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,669 shares of the information technology services provider's stock after purchasing an additional 281 shares during the period. ServiceNow accounts for 2.0% of HWG Holdings LP's portfolio, making the stock its 16th largest holding. HWG Holdings LP's holdings in ServiceNow were worth $6,010,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Norges Bank acquired a new stake in ServiceNow in the 4th quarter worth $2,603,360,000. Proficio Capital Partners LLC lifted its stake in shares of ServiceNow by 154,255.3% in the fourth quarter. Proficio Capital Partners LLC now owns 666,815 shares of the information technology services provider's stock valued at $667,000 after buying an additional 666,383 shares during the period. Alphinity Investment Management Pty Ltd acquired a new stake in ServiceNow during the fourth quarter worth about $682,468,000. Price T Rowe Associates Inc. MD grew its position 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 buying an additional 509,467 shares in the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its stake in ServiceNow by 36.7% during the fourth 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 valued at $1,940,464,000 after acquiring an additional 491,861 shares during the period. Institutional investors own 87.18% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on NOW shares. Scotiabank set a $1,100.00 price objective on ServiceNow and gave the stock an "outperform" rating in a research report on Wednesday, May 7th. Barclays set a $1,085.00 target price on ServiceNow in a research note on Wednesday, May 7th. UBS Group reiterated a "buy" rating and issued a $1,025.00 price objective (up previously from $900.00) on shares of ServiceNow in a research report on Thursday, April 24th. Guggenheim increased their target price on ServiceNow from $716.00 to $724.00 and gave the stock a "sell" rating in a report on Thursday, April 24th. Finally, Piper Sandler lowered their target price on ServiceNow from $1,200.00 to $1,120.00 and set an "overweight" rating for the company in a research note on Thursday, April 24th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-nine have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $1,062.50.

Insiders Place Their Bets

In related news, insider Jacqueline P. Canney sold 354 shares of ServiceNow stock in a transaction that occurred on Wednesday, April 16th. The stock was sold at an average price of $804.61, for a total value of $284,831.94. Following the transaction, the insider now directly owns 3,027 shares of the company's stock, valued at $2,435,554.47. The trade was a 10.47% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jonathan Chadwick sold 770 shares of the company's stock in a transaction on Monday, April 28th. The shares were sold at an average price of $931.62, for a total transaction of $717,347.40. Following the completion of the sale, 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 ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 2,674 shares of company stock valued at $2,510,213. 0.38% of the stock is currently owned by corporate insiders.

ServiceNow Stock Performance

Shares of NYSE:NOW traded up $23.33 on Tuesday, reaching $1,027.70. 1,101,587 shares of the company's stock were exchanged, compared to its average volume of 1,526,928. 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 company has a fifty day moving average of $884.98 and a 200-day moving average of $974.97. The company has a market capitalization of $212.72 billion, a price-to-earnings ratio of 150.47, a PEG ratio of 4.51 and a beta of 0.97.

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

ServiceNow announced that its Board of Directors 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 repurchase up to 1.3% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company's board believes its stock is undervalued.

About ServiceNow

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.