HWG Holdings LP Buys 281 Shares of ServiceNow, Inc. (NYSE:NOW)

HWG Holdings LP increased its stake in ServiceNow, Inc. (NYSE:NOW - Free Report) by 5.2% in the 4th quarter, according to 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 purchasing an additional 281 shares during the quarter. ServiceNow comprises about 2.0% of HWG Holdings LP's portfolio, making the stock its 16th biggest holding. HWG Holdings LP's holdings in ServiceNow were worth $6,010,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Quarry LP bought a new stake in shares of ServiceNow in the 4th quarter worth $27,000. Atala Financial Inc acquired a new position in ServiceNow during the fourth quarter worth about $28,000. LFA Lugano Financial Advisors SA bought a new stake in ServiceNow in the fourth quarter worth about $32,000. FPC Investment Advisory Inc. lifted its holdings in ServiceNow by 725.0% in the 4th quarter. FPC Investment Advisory Inc. now owns 33 shares of the information technology services provider's stock valued at $34,000 after acquiring an additional 29 shares during the last quarter. Finally, Noble Wealth Management PBC bought a new position in shares of ServiceNow during the 4th quarter valued at about $34,000. Institutional investors own 87.18% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on NOW. Wells Fargo & Company increased their target price on shares of ServiceNow from $1,100.00 to $1,150.00 and gave the company an "overweight" rating in a research note on Thursday, April 24th. Robert W. Baird lifted their target price on ServiceNow from $1,010.00 to $1,150.00 and gave the stock an "outperform" rating in a report on Thursday, April 24th. JPMorgan Chase & Co. reduced their target price on ServiceNow from $1,200.00 to $970.00 and set an "overweight" rating for the company in a report on Tuesday, April 22nd. Erste Group Bank upgraded ServiceNow from a "hold" rating to a "strong-buy" rating in a report on Wednesday, April 30th. Finally, UBS Group reaffirmed a "buy" rating and set a $1,025.00 price objective (up from $900.00) on shares of ServiceNow in a research note on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $1,062.50.

Insider Buying and Selling

In other ServiceNow news, General Counsel Russell S. Elmer sold 62 shares of the company's stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $1,023.00, for a total value of $63,426.00. Following the completion of the transaction, the general counsel now owns 4,332 shares of the company's stock, valued at $4,431,636. This represents a 1.41% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, 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 sale, the insider now directly owns 3,027 shares in the company, valued at $2,435,554.47. The trade was a 10.47% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 2,674 shares of company stock valued at $2,510,213. 0.38% of the stock is owned by company insiders.

ServiceNow Stock Performance

Shares of NYSE NOW traded down $3.68 during trading hours on Thursday, hitting $1,017.62. 859,917 shares of the company's stock were exchanged, compared to its average volume of 1,522,131. The company's 50-day moving average price is $892.91 and its 200-day moving average price is $975.64. ServiceNow, Inc. has a 1-year low of $637.99 and a 1-year high of $1,198.09. The stock has a market capitalization of $210.63 billion, a price-to-earnings ratio of 148.83, a PEG 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 (NYSE:NOW - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The information technology services provider reported $4.04 EPS for the quarter, topping the consensus estimate of $3.78 by $0.26. ServiceNow had a return on equity of 17.11% and a net margin of 12.97%. The company had revenue of $3.09 billion for the quarter, compared to the consensus estimate of $3.09 billion. During the same period in the previous year, the business posted $3.41 EPS. The company's revenue for the quarter was up 18.6% on a year-over-year basis. On average, sell-side analysts expect that ServiceNow, Inc. will post 8.93 earnings per share for the current fiscal year.

ServiceNow announced that its Board of Directors has initiated a stock buyback plan 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 reacquire up to 1.3% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's board of directors believes its stock is undervalued.

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.